Consumer Reports Reports:
For example, at the liquidation, a 50-inch Panasonic plasma TV was discounted to $1,800, a $200 savings. That might sound like a bargain, but if you check the circular you'll see that Circuit City had planned to cut the price this week by $500. What's more, we found the same model online for $1,365, including free shipping.An HP all-in-one printer, at the liquidation for $270, was scheduled to be on sale for $150. And we found it as low as $135 online. A Garmin GPS system, discounted to $225, was $160 in the circular and $141 online.
Despite the modest discounts, the checkout counter was mobbed. We repeatedly overheard salespeople telling customers that they had run out of merchandise. Shoppers were undeterred by signs proclaiming that all sales are final; that the store no longer was accepting the Circuit City credit cards, personal checks, or coupons; and that it wouldn't match competitors' prices.
This is either massive genius, or complete incompetence, depending on how the liquidation goes.
Bargain Hunting? Not So Much [Banker Gone Broke]
Posted by guest , Jan 21, 2009 4:36PM
ASAIK, This is par the course with more retail liquidations.
Posted by Clown Capital , Jan 21, 2009 4:37PM
USA!!! USA!!! USA!!!
(bullshit)
Posted by guest , Jan 21, 2009 4:38PM
So what's new? Anyone that falls for the liquidation scam will be a victim of a Ponz master in the future.
Posted by guest , Jan 21, 2009 4:38PM
Yes, it is a typical liquidation taking advantage of human behavior (just cuz it is liquidating must be a bargain). I remember a few stores which had signs (liquidation sale) for years...
Posted by guest , Jan 21, 2009 4:42PM
~17% of people have an IQ less than 85. enough said.
Posted by guest , Jan 21, 2009 4:48PM
#4
My favorite is the "Going out of business" sign that is faded from being in the window so long.
Posted by guest , Jan 21, 2009 4:51PM
Linens-n-Things did the same thing. They had people on the street corners for months touting the liquidation sale. No big deals, can't use the 20% off coupons and prices were higher then elsewhere. Walked in, turned around and walked out...
Posted by guest , Jan 21, 2009 4:53PM
Linens-n-Things did the same thing. They had people on the street corners for months touting the liquidation sale. No big deals, can't use the 20% off coupons and prices were higher then elsewhere. Walked in, turned around and walked out...
Posted by guest , Jan 21, 2009 4:56PM
those people with the signs voted for Obama.
Posted by guest , Jan 21, 2009 4:56PM
@7
We did the same thing about a month ago at the Linens-n-Things in Danbury, CT. It is fun watching Homer Simpsons relatives rush around the store snapping up 'deals' by the cart load.
Posted by guest , Jan 21, 2009 4:57PM
@9
haha, go kill yourself
Posted by guest , Jan 21, 2009 4:58PM
The best signs read, "Going out for business". But the word "for" is much smaller than the others, and can't be read unless one is up close
Posted by guest , Jan 21, 2009 5:04PM
This isn't even 'Circuit City' doing the selling, it is a liquidation company. Basically the liquidator is free to bring in their own stuff, sell CC stuff--whatever. As usual Consumer Reports is completely lost... DB too? Doesn't everyone know this??
Posted by guest , Jan 21, 2009 5:09PM
@1 - what language was that?
Posted by guest , Jan 21, 2009 5:20PM
"Their Prices are,,,In-SANE...........
Posted by guest , Jan 21, 2009 5:46PM
there were plenty of people last weekend in the Midtown store. the strategy seems to be working...
Posted by guest , Jan 21, 2009 5:55PM
this is what the liquidators do. ask any of your friends who have worked at Gordon Brothers
Posted by Anal_yst , Jan 21, 2009 6:10PM
Oh, silly sheeple, when will you learn?
Posted by guest , Jan 21, 2009 6:58PM
It's pretty standard practice for the liquidator to raise prices. Remember, his goal is to get maximum possible restitution for creditors.
Posted by guest , Jan 21, 2009 7:01PM
Went today, every single article more expensive than anywhere else. No wonder the go bankrupt.
Posted by Joseph di Jersey City , Jan 21, 2009 7:46PM
13 nailed it - this is standard liquidator procedure. E.g. in the Linens 'n Things liquidation they first marked everything up to "full retail" (higher than the normal store price) and then "discounted" off of that. People who get angry at such practices are just ignorant and childish.
Posted by guest , Jan 21, 2009 7:56PM
One of my attorneys told me this is, hands down, the greatest business on earth (when it is happening).
I can confirm for myself that the Consumer Report is correct. No deals at 14th Street store...cheaper to walk down to P.C. Richards a block away.
Posted by guest , Jan 21, 2009 8:25PM
There are about 4 companies that have an oligopoly on running these liquidations. They are selected by the creditors' lawyers, who know the firms well. Their mission is to maximize value from the liquidation for the creditors, so you can imagine they know what they are doing. This business is a mint (as 22 said). You can hire the cheapest labor, have to provide zero customer service, you can go with the least expensive displays and you don't even really mark things down.
Posted by Harald , Jan 22, 2009 12:05AM
Like 13 & 21 said..CC is forced to mark up all merch to full retail, since being taken over by a liquidation firm, the vendors are no longer honoring the discounts and chargebacks it normally gave to CC. then they mark it down from that price, in a systematic time-dependent way that is customary to the liquidation firm
Posted by guest , Jan 22, 2009 9:57AM
Some prices are...ok. Look for things that never go on sale, PS3s for 10%, games for 20-30% off. I saw lots of people in the Midtown store too, but I saw plenty of people with phones in hand comparing prices to Amazon while shopping.
Posted by guest , Jan 22, 2009 8:41PM
When the Circuit City in Tupelo, MS went out of business, the final liquidation prices were higher than their regular pre liquidation prices.