Where to buy and what are Home Depot liquidation auctions
Where to buy and what are Home Depot liquidation auctions.
In 2017, The Home Depot, Inc. fiscally entered as the world’s largest home improvement retailer. Depot offers a wide assortment of building materials and home improvement, lawn and garden, and décor products; additionally, services are proffered for home improvement installation and tool and equipment rentals. With over 2,284 Home Depot locations throughout the U.S. and others in foreign countries, this Delaware Corporation started in 1978 has done very well for itself. It is no wonder that the burgeoning return and overstock inventory market, now a $500 billion-dollar industry, is answered through liquidation auctions that many consumers are not aware of or don’t know how to advantage themselves regarding.
Extremely proficient cost-savings are achieved through liquidation overstock auctions. The Depot itself provides internal markdowns and remedial cost-savings discount programs at the initiation of returns and overstock; however, 2nd party liquidation is contracted with Home Depot to master this additional business track that is too comprehensive and expansive to be mitigated 100% internally by the Depot itself. And, they are not the only retailer who outsources their liquidation industry. Once an auction is entered, 3rd party resellers are able to bid on the Depot’s overstock and returns and they, in turn, resell at reduced cost points to consumers. Think of Overstock.com, for instance, who will often have products that Home Depot sells but on an extreme mark-down.
So where do you access Depot Liquidation Auctions?
Good questions like this are answered with formidable responses and, the fact is, there is a suite of Home Depot Liquidation Auction reseller companies but only B-Stock Liquidations is the “official” Home Depot Liquidations Auction house. They can be accessed directly from the Depot website if you use the search feature and enter Home Depot Liquidations. B-Stock Liquidations features customer returns and company overstock not previously sold. Bidders need to qualify before participating in the online auctions and do so by clicking on Home Depot’s B-Stock Liquidations application link usually found in the upper right corner of the webpage. A reseller certificate is required; however, it is to commit to non-taxation and the state you live in provides the instructions to achieve certification as it is a state to state process. Once the certification is provided, a bidder can bid on auctions B-Stock presents on Home Depot’s behalf. All items are available to qualified bidders and to bid and it appears B-Stock only accepts United States applicants at this time
Once registered as an enterprise or small business, Depot liquidation is auctioned online and contingent upon the Business-to-Business (B2B) entity – meaning your firm and whether an enterprise or small business reseller – you reap the rewards and benefits of overstock and return discounts through auction purchases. Liquidation auctions usually denote the condition of products as new condition, previously tested and working, scratch and dent working, scratched and dent untested – working not assumed, and salvage. The Depot is one of two companies that divides their auction lots into 1) in-store returns and 2) dot.coms. Wal-Mart is the “other” company.
When participating in liquidation auctions, generally extreme cost savings are achieved; however, a bidder must perform their background and due diligence regarding the auctions and ensure they’ve reasonably fact-checked the items prior to bidding. The bidding process itself is detailed and follows a suite of rules bidders must remain compliant with. If a bidder is non-compliant, they can lose the ability to bid in the future. The loss of bid capability is a graduated process that involves 1st offense, 2nd offense, etc.
Items that are in Home Depots’ liquidation auctions include merchandise such as full truckload (26 pallets) of kitchen & bath products; 9 pallets of home and garden products; full truckload (25 pallets) of lighting & electrical; etc. and sample brand names include: GE, Hampton Bay, Kohler, Leviton, Progress Lighting, Westek, etc. Typically, as a reseller, the Home Depot Liquidation Auction process is an excellent path toward achievement in the representation of products worthy of consumer purchase and/or salvage at reduced rates and results in a win-win for everyone involved.