Sunday, February 05, 2017

Sell repossessed goods at big discount

My friend, who owns a warehouse that is rented to small business owners, told me that business is very bad but this warehouse is full.

Many tenants placed their goods in the warehouse, but they went bankrupt. They do not bother to claim back the goods. He has to take a court order and wait for a few months before be could take over and sell the goods.

He has a container of 1,000 shoes imported from China. He does not know how to get rid of these shoes. Nobody is interested in them.

I suggested that he should sell them online at a big discount from their normal selling price.

His predicament solved a mystery that baffled me for a long time. I have seen HDB shops that are not renovated but are used to sell items at big discounts. These items must have come repossessed by the warehouse owner or the bank, and have to be disposed at heavily discounted prices.

1 comment:

Anonymous said...

There's a US tv program called The Liquidator, he goes around buying and selling such goods. They are really dirt cheap, to the extent that one cannot imagine/believe how cheap these goods can be.

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