Comments on: Should I buy it now? ... how about now? ... now?

Question: Should I buy it now? ... how about now? ... now?

simplethings — Mon, 02 Feb 2009 13:12:33 -0800

Is there a general liquidation timeline I can use to determine when to purchase an item? I'm specifically looking at Circuit City. I was in there last week and saw that a DSLR (the Canon Xsi) I've been eyeing was at this location and was on sale for 10% off. I went again on Thursday and it was down to 20% off. I just came back from checking today and it was still 20% off and in stock. When would be the best time to purchase it? By "best" I mean lowest price but still in stock.

Do liquidation sales go on for months? Or will they just keep decreasing prices so that they can sell everything in a few weeks?
I've considered visiting the store every day in hopes I can catch the next big price drop, but, the closest store is not that close.
Do you think people would buy all of the cameras if it became 21% off?

I guess there are a lot of factors that go into this but, any help would be appreciated.

By: premortem

premortem — Mon, 02 Feb 2009 13:18:39 -0800

CNN article regarding the fact that liquidation sales are not always the best places to find killer deals.

Also on Consumerist.com

In a nutshell:
" * "Consumers think this is the time for bargains. That's not true."
* The CEO of one of the Circuit City liquidators says they'll need a "fairly sizeable" profit to help Circuit City repay its creditors. He says, "We want to make sure everything is fairly priced. Do we get it right every time? No."
* Deeper discounts usually appear as the sale continues. (One tipster told us we can expect approximately 10% discounts each Wednesday in the Circuit City liquidation.)
* "You'll get the absolute best prices a week before [a retailer's] liquidation sale start."
* Many liquidators will do everything they can to hide the fact that an item is refurbished, returned, or a floor model. Some will even fold other merchandise into the store's inventory to try to sell.
* "In truth, consumers dictate the discounts. If products aren't selling, we'll go deeper.""

By: Ghidorah

Ghidorah — Mon, 02 Feb 2009 13:22:08 -0800

If you read sites like Consumerist, you'll see that a lot of liquidation sales are handled by companies that essentially buy the entire chain and all the merchandise they currently hold. From there, they tend to raise prices (at least back to the normal list price, which is higher than most of the chains like Circuit City), then put signs saying "Huge Sale!!!!" and reduce the price a bit, but still not much different than the original price at the store.

Going out of Business sales used to be a great chance to get things cheap. Like a lot of things, it's become a business in itself, and the liquidation companies are trying to make as much as they can from it. Be careful, and shop around. Maybe you find it for the same price, or a little more, at another store. That other store, though, will still be there for returns or exchanges, and might have staff that aren't facing their own personal apocalypse, and therefore more likely to be able to help you out with questions.

By: Stewriffic

Stewriffic — Mon, 02 Feb 2009 13:24:09 -0800

Do check out Consumerist's coverage--seems like from what they're reporting, the bargains aren't bargains.

By: inigo2

inigo2 — Mon, 02 Feb 2009 13:28:49 -0800

I agree that liquidation != good deal. I would also check out fatwallet.com and slickdeals.net forums if you want to monitor Circuit City's sales, though.

By: togdon

togdon — Mon, 02 Feb 2009 13:34:10 -0800

Beyond what the Consumerist and CNN have said I've confirmed that the prices on many items are far better at Amazon/NewEgg/B&H/Dell than they are at CircuitCity.

Put it this way... It's very telling that they yanked their website.

By: YFiB

YFiB — Mon, 02 Feb 2009 13:41:38 -0800

How about this?:
Refurbished Canon Digital SLR Cameras: Rebel XTi 10.1MP bundle
Good luck!

By: amtho

amtho — Mon, 02 Feb 2009 13:43:43 -0800

I looked at the Circuit City liquidation; no deal for me. You can't return anything even if it doesn't work, as far as I can tell. Maybe there's good service from the camera's manufacturer, but the lack of "take it back" ability was not offset by the 10% discount. Or even a 20% discount.

By: simplethings

simplethings — Mon, 02 Feb 2009 13:44:49 -0800

Wow, thanks for the quick and informative responses.
I'll definitely shop around and compare prices.

Thanks!

By: krautland

krautland — Mon, 02 Feb 2009 14:36:07 -0800

I am strongly opposed to buying a camera from a soon-to-be-closed business like circuit city. this makes dealing with any kind of warranty issue a matter of mailing the whole camera in to canon usa instead of popping by a store or having them give you a replacement. do yourself a favor and buy this thing at a place like b&h, which have a well-deserved stellar reputation and great prices (adorama and samy's are okay, too).

By: odinsdream

odinsdream — Mon, 02 Feb 2009 14:58:44 -0800

My sister has been watching the same item at CC. She keeps calling me when they "reduce" the price and asking if it's a good deal. It's yet to beat a brand-new one from B&H Photo Video online, so be keenly aware of the sleazy nature of these liquidations, lest you end up scammed.

By: MattD

MattD — Mon, 02 Feb 2009 21:03:28 -0800

Just stopped by yesterday.

Prices on electronics and commodity / generic goods were terrible. I don't think they'll ever sell a flat panel or a camera for a good price -- they'll simply keep trying to sell them at slightly better but still suckers' prices until the end, at which point they'll wholesale them out to the same Brooklyn guys (who now have warehouses around the country, natch) who'll sell you that camera or panel cheaper now.

By contrast, prices on name brand accessories and games were slightly better than any reputable on-line source. By meaningful I mean 50 cents cheaper after tax and shipping, but, hey, you can get it now. I saved $6 or so versus online, $10 versus Best Buy.

By: mmoncur

mmoncur — Tue, 03 Feb 2009 03:42:27 -0800

I agree with everyone else - you'll get a better deal at Amazon, and I would never buy a DSLR from a place without a very good return policy. It's extra protection (along with the manufacturer's warranty) for you in case the camera is defective, and that's worth paying extra for. But you'll probably pay less at Amazon or B&H anyway.

By the time they get down to "50% off" there will be nothing you want left in the store. Trust me.