A Liquidator’s Guide on Dealing with TVs

 In 2013, the demand for television sets went down by 4.8%, prompting wholesalers to cut down their losses by lowering prices. This has driven many away from dealing with TVs. However, one of the reasons behind the low demand was the fact that most started streaming their TV shows through the web.

Luckily, the trends are changing again. With technologies like Apple TV, TV sets are bound to bounce back. With the prices of TVs being so high these days – especially those that feature technologies like 4K – consumers will try finding cheaper options.

This is where you come into the picture. By selling customer returns or refurbished sets to your consumers, you can satisfy their needs and boost your revenues by introducing a new channel for sales. However, dealing with TVs is not that easy, especially refurbished or customer returned models. Therefore, to step into this difficult world, read this guide to the very last line.

Is this Investment Really a Good Idea?

As you may already know, dealing with TVs in a liquidation business is not easy. However, your efforts will be rewarded.

The Worth of Refurbished TVs

People are always trying to find ways to cut costs, especially since the economy is still limping out of the recession and trying to get back on its feet. Therefore, any bargains you have to offer will be welcomed with open arms.

Since refurbished TVs allow them to save up to 50% on a functional TV set, they will definitely come a-buying. In addition, refurbished TVs are practical because they offer you the chance to sell relatively new models that may be in production. As a result, people will be more likely to buy them and pay the reduced price you ask.

However, if the refurbished model is quite old, finding parts for these will be difficult and your end clients will be deterred from parting with their money. Luckily, your money will not go completely to waste. You can easily sell these goods to secondary markets and get a good ROI, especially if you sell the parts of the TVs on your own.

The Worth of Customer Returns

Customer returns are the best way of getting the most money for TV sets. Usually available after shopping seasons like Christmas, these products are usually returned because their buyers feel buyer’s remorse or would like something else for the same or a slightly different price. Because most are still brand new, you can still get paid an amount close to the original retail price.

On the other hand, the idea of saving at least $50 off a relatively new TV is bound to reel buyers in. Customer returns are also a good investment because their warranties are usually still valid. This alone can help you keep the price high enough to cover your costs and promise profits. It can also help boost your reputation with potential clients since most are suspicious of wholesalers and liquidators. This, in turn, will prevent your electronics from collecting dust in your warehouse.

Everything You Should Know About Buying Refurbished TVs

Now that you have an idea about the worth of refurbished TVs, it is about time that you learn how to buy them. The following lines include a few important tips you should try.

Find Out Who Made the Refurbishes and Who is Selling the Product

When buying refurbished TVs, you need to find out which category of refurbishes your products are in, i.e. are they factory sealed or third party refurbished:

Factory Sealed Refurbished

These are the best of the two refurbished options because they represent great savings to your clients and ultimately sell easily in comparison. TVs in this category are usually fixed or tweaked by their original manufacturer, which means that you can rely on them to function properly.

Third Party Refurbished

These are the trickiest types of refurbished items because they have been restored by any other company aside from the original manufacturer. This may make clients (and even you yourself) suspect their investment decision as the original warranty is void. However, you can always avail this type of products if the company that made the necessary repairs is well-known, flaunts a record of high quality, and is willing to provide a warranty.

You should know who is selling these refurbished units. If the manufacturer is selling them through a liquidation sale or an authorized dealer, do not hesitate to pick them up. On the other hand, if the goods are sold by a third party, maybe the one that fixed it, you should investigate the TVs thoroughly and see if you will be getting your money’s worth. You should also check the dealer’s background to make sure that they have no history of scamming other liquidators out of their money.

Check for a Warranty

Refurbished goods should come with a valid U.S. warranty that is typically 45-90 days and covers both parts and labor. While having a warranty may not be of concern to you, it shows that you are willing to go the extra mile and provide your clients with something they need. This, in turn, will influence their decision to buy from you.

You should also find out if you can get an extended warranty for the refurbished item. This will show how much the retailer is willing to backup their refurbished product and ultimately give you an idea as to whether or not the TV sets lot is worth your investment.

Ask for a Return Policy for the Refurbished Unit

There is always a chance that you or your buyers may end up with a faulty piece. To ensure your buyers’ satisfaction, find out if the refurbished TVs you are buying come with a 15-day return policy. This is especially true if you are dealing with an online marketplace and would like a guarantee to protect yourself before selling the sets.

Check for Accessories

Applicable to both refurbished and customer returns, this tip recommends that you thoroughly check the accessories that come with the TV set, starting from cables to remote controls. If the TV does not come with these, your investment will be worthless because your buyers will think twice before they purchase your offering. Some may even haggle in an effort to reduce the price; chances are that they will even win because you have not been able to provide them with a comprehensive package.

Do Not Wait Too Long

When it comes to buying refurbished TV sets, you may believe that you should take things slow because of the risks associated with your purchase. However, if the pallet includes the latest models, especially flat screen TVs and HDTV models, chances are that someone will buy them before you. So, think quickly and deal with reputable liquidation marketplaces to ensure the best value for your money.

Everything You Should Know About Buying Customer Returned TVs

Television sets that have been returned by their original buyers are relatively easier to sell, but only as long as you know their types and how to handle their sale.

Find Out Why the TV Set Was Returned

New television sets are returned to their manufacturers or dealers for one of these three reasons:

Buyer’s Remorse

If a buyer goes on a shopping spree only to regret it later, chances are that they will take advantage of the original seller’s money back guarantee. If you get your hands on this type of TVs, you will make a small fortune because they are 99% brand new.

Damaged Due to Shipping

TV sets that have been shipped only to be damaged by mishandling can also be part of customer returns. While some may be sent back to be refurbished, some companies keep them around and sell them off quickly to liquidators as long as the damage is minimum.

Opened Box

Technically, these can be classified as new if they have not been used. However, you will need to check this type of item thoroughly to ensure that all accessories are included as well.

Buy from a Reliable Source

Customer returns offer the biggest profits potential, but their sellers can easily trick novice liquidators into believing that faulty items are brand new. Therefore, you need to make sure you choose the best source for your products.

One of the best places to find customer returned TVs is through stores’ liquidation marketplaces. You should also consider online marketplaces as they offer a wider variety and more models for less. For instance, on this website, you can get your hands on some of the latest HDTV models for less than wholesale prices.

Find Out the TVs’ Original Prices

Because these are returned items, they should cost you less than brand new TV sets. Therefore, you should know the retail price for each to place a good bid that allows you to generate profits as well. Knowing the price will also save you from dishonest sellers who may try passing high prices and convincing you to pay them.

How Liquidators Should Sell TVs

Aside from whatever time and effort you invest in buying a TV, you should do your best to make sure that it does not stay long in your inventory. To sell your refurbished or customer returned TVs, here are some tips.

Determine The Best Sales Channel

There are many great platforms for you to sell your TV sets. If you do not have your own platform, you can opt for websites like Amazon and eBay. You can also try local online classifieds like Craigslist, since not many liquidators choose to unload their goods there.

Avoid Payment Problems by Demanding for Cash

Make sure that you are paid with cash. That way, you can avoid the problems that come with online transactions. In addition, this will spare you from parting with a chunk of your money just for the sake of covering the costs of your merchant account. However, if cash is out of the question, choose a more secure mode of payment such as PayPal.

Be Honest About the Condition of the TV

DO NOT SELL A REFURBISHED TV AS BRAND NEW! Sorry for the caps, but many try making a quick buck by passing refurbished TVs as brand new in hope of getting more profits. However, this will affect your business in the long run as your customers will lose faith in you and eventually stop dealing with your business. A business needs its reputation to survive, so do not waste it while trying to earn a quick buck. It is always better to under-promise and over-deliver, especially with customer returns and refurbished electronics.

Complement Your Product Descriptions with Good Pictures

You need to provide your clients with actual images of your TVs rather than images from the manufacturer’s website. Just make sure that the pictures you click are clear and taken in a bright setting. Also, include their accessories to save yourself from questions like “is the remote included?”. It is also important to focus on any imperfections on the unit in your pictures, as many customers tend to read the pictures instead of the description. Show the actual tv being sold, what’s included with it and any defects in your product in the pictures!

Sell the Goods Early

Do not wait for long before selling your collected liquidation goods. Many listings have a time limit, so you need to get rid of your collection of TVs before you reach its end. However, do not get discouraged if you do not sell your inventory within a week. Instead, start tweaking your marketing strategy and make sure to reel in more people in the future.

The Bottom Line

Now that you have a good idea of how to buy and sell TVs for your wholesale business, do not wait any longer before adding these electronics to your inventory. Just remember to be cautious yet swift in your dealings so that you can get the best value and easily offer it to your clients as well.

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