Liquidation Terminology Decoded
Stepping into the world of liquidation sales can feel like learning a new language. With so many new words or terms to learn, you will realize that it is not only about buying products but also about learning how to get to them and buy in bulk. At Coastal Surplus Solutions, we have decoded all terms around liquidation terminology and how we can bring our knowledge in.
We believe that understanding liquidation terminology is key to making smart buying decisions and maximizing your savings. Terms like “overstock,” “closeouts,” or even “customer returns” need to be very clear in order to know what you’re doing and purchasing.
Sound might sound confusing, and others familiar. The key is putting each term together and knowing where they will take you and how.
That’s why we share parts of the liquidation terms you should know, and bring in our knowledge for the purchasing, sourcing, and delivering part. You can be a business owner, reseller, individual buyer, or someone in charge of a space. Regardless of who, you will need several terms to help you understand how we source products and what you get in return.
For Starters, What Is Liquidation?
Most businesses and companies need to close, pay off debts, or clear excess inventory at some point. Be it all of them or only one reason is irrelevant. When this happens, liquidation comes and means they sell assets to free up cash.
How do they benefit specifically? According to Xero, liquidation involves converting assets like inventory or equipment into liquid cash, which can then be used to settle debts or reinvest.
When a company liquidates, it may sell everything from unsold stock to machinery. The process varies as it can be voluntary or forced. Depending on the industry and business, products will naturally vary.
The proceeds are distributed to creditors in a specific order.
What is our role during liquidation? We source all products you need and request, work with you in getting them from liquidation if this is your preference, and deliver them to your door.
Liquidation deals come with a lot more cost reductions, meaning you can set lower budgets and still get an entire bulk purchase done. We also help you access unique and high-quality pieces.
What Terms Should You Know for This?
Although we support our clients with our knowledge and expertise, diving into liquidation goods requires at least, minimum knowledge. This is why we always share the basic liquidation terms we know businesses and individuals must work with:
-Overstock. It refers to new and unsold inventory that retailers want to clear out. This is often because of over-ordering or stocking, seasonal changes, or they are trying to update product lines. The key here is that most of these items are usually in their original packaging.
-Closeout. They are discontinued or end-of-season products sold at great prices. This helps you set a bulk purchase while we find a business closing that needs to get rid of this merchandise.
-Customer returns. They are all about what products are returned and how customers usually decide to go for others. This can be due to minor damage or because they changed their minds.
-Shelf pulls are items that were removed from store shelves. They are new, but have been touched and exposed to other customers before.
These basics, alongside refurbished products and second-hand ones, are the options we can source for you. Whenever we go deep into liquidation deals, we work on finding your products in large quantities, for great deals based on the type you are fine with or need.
Why Knowing These Terms Set Us (and You) Apart
It empowers you and us.
We are the experts providing full support in sourcing your products. Streamlining and how we connect you to surplus goods are all part of what we are and do. Hence, we know all terminology, and every time an explanation is needed, we provide it.
However, knowing certain terms beforehand empowers you to identify the condition and value of products we source. You will use or resell them, meaning it is ideal that you know what you have at hand.
It also helps you make informed decisions about profits and how to negotiate better deals when selling products.
At Coastal Surplus Solutions, we guide you through every term and step when needed. This ensures you understand exactly what we are sourcing and how to maximize your profits and savings from there.
How We Help You Navigate Liquidation Deals and Terminology
We don’t just provide definitions; we apply this knowledge to your benefit.
Our team explains terms clearly so you are not left guessing, and helps you assess product conditions and risks. Every product we source goes through our quality assurance.
We source the best deals on overstock, returns, and everything around liquidation deals. Once we find them, we discuss and negotiate terms with you that protect your interests.
According to Dynamic Distributors, successful negotiation with liquidators requires thorough preparation, clear communication, and flexibility. This is why our team uses these proven strategies to secure the best prices for you.
Contact us today to have your project streamlined and experts who know what terms mean and can source through all liquidation deals thanks to it.
Looking for sourcing tips that actually work? Our recent blog posts share real-world strategies, market insights, and insider knowledge from our years in the wholesale and liquidation industry. Learn how to avoid common pitfalls and discover opportunities others miss. Stay ahead of the game with industry insights. Get expert knowledge that helps you make smarter bulk buying decisions and maximize your ROI.
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Remember, below is a list of our main services. But if you need anything beyond this scope, that’s no problem. Simply give us a call, or send us a message through our contact form.
Tired of juggling multiple suppliers? Our 100+ sourcing categories cover every industry, such as: automotive, construction, apparel, beauty, hospitality, industrial equipment, medical, and more. One partner, unlimited product access, guaranteed quality—all at wholesale prices that boost your bottom line. From small lots to full truckloads—if you need it, we find it and get it. Whatever your industry, we’ve got you covered.
Here are the cities we currently have done business in by helping local bulk buyers, retailers, and businesses buy branded overstock at exclusive wholesale prices. However, if you’re not local to this area, that’s no problem! We source overstock product nationwide and can ship nationwide. If you have any questions, simply call us or send us a message through our contact form below.
Palm Beach County
Broward County
Miami-Dade County
St. Lucie County
Martin County
