Why do we have big brand electronics selling for half the recommended retail price?
Find out why we are the best place to get a big brand bargain!
You will have seen a few big brand names floating around in our online auctions lately!
Apple products like iPhones and MacBook are always a big draw card and often these are alongside products from Samsung, Fitbit, LG and Microsoft.
Our appliance auctions often feature names like Fisher & Paykel, Haier and Hisense and with these names brings confidence in their reliability and top of the line technology.
We break down our big brand auctions, where the stock comes from, and what it all means for the bargain hunters of the general public.
After you finish reading, you’ll definitely be keeping an eye out for the gigantic big brand clearances going under the hammer online at Lloyds Auctions!
We deal with a lot of retailers that carry their own brand of stock and instead of selling it through
mainstream retail outlets, they come straight to us!
They're finding that for a quick turnaround, we offload their stock faster than normal retailers. They understand that they’re going to get a wholesale price of maybe 35% - 40% of retail, but the market range for us is a lot bigger as we have eager bidders across the country looking for bargains!
And as with a lot of our stock, because we have a shipping facility behind it, it gets turned over almost straight away. We are liquidating vendors’ stock faster than ever before!
A lot of our stock these days comes from ‘start of the market’ suppliers such as retail shops, independent suppliers and independent wholesalers. They are either closing down a branch or just need to get rid of excess stock!
A fire, a hailstorm or even a huge downpour of rain can result in massive damage to our property, home, car and our stuff inside… but it can also bring a big opportunity as well.
Insurance claim auctions are where a business, usually a retailer, has had some sort of damage or impact on the area where they stock which means they can no longer sell the goods in store.
These are often called ‘salvage auctions’ as they salvage what they can from the damaged stock in order for it to be sold.
They make an insurance claim (just like we would!) and the stock is passed on to us to sell on the insurer’s behalf so that they can recover some of the insurance costs. We achieve a fast turnaround and fair prices.
A lot of the time, it is simply damage to the carton, box or packaging that has occurred to insurance claim stock and there is minimal to no damage at all to the actual goods!
These often include big brand items such as TVs, computers and large appliances that are sold in original condition.
Retailer Returns Auctions
When buying a brand new product from a major retailer, we expect it to be in absolute mint condition, (and rightfully so when we can be paying up four figure prices for a phone)!
So, when retailers have a warranty or returns claim against them because a customer isn’t completely satisfied with their product then they will most likely replace it with a brand new one straight away.
But what happens to the rejected product? Major retailers from all over the country will send their imperfect products to a returns company who then disposes of the stock appropriately. This stock could be anything from small electronics to large whitegoods, and everything in between!
The imperfect products either get refurbished and sent back to the store as seconds, or if they’re really broken, they get destroyed.
But often it is not worth the time and effort of repairing minor cosmetic defects or damages that don’t affect the product’s overall functionality.
Therefore, the returns companies send their stock to us here at Lloyds Auctions to sell to the public! We are the perfect solution as they get to make some money back and the abundance of near perfect products aren’t wasted!
The problems are usually so minute, like one USB port on a laptop not working or a tiny scratch on a phone or a single pixel on a TV screen that doesn’t display quite the right colour.
Tech gurus can often fix the small problems themselves, resulting in practically brand new products!
These auctions that feature returns or insurance claim goods contain the latest models of whitegoods, appliances, consumer electronics, drones, computers and smartphones that are selling in stores right now!
Most of the time these auctions here at Lloyds, are offered completely unreserved and all bids start from just $1.
That means big brand gear is being sold with up to an 80% discount on the retail price and therefore, presents unbeatable value!
Plus, we are open for inspection seven days a week so you can inspect the goods for yourself and see how minor that scratch really is!
We also investigate all the products thoroughly before they come through our auctions as we happily comply with regulations. We don’t sell anything that is not a genuine, brand name product... There are no fakes here!
Keep your eyes peeled as there is plenty more big brand products set to hit our online auctions as we develop partnerships with liquidators, returns companies, retailers and wholesalers!
We have over 800 lots of big name electronics set to hit our auctions over the next couple of weeks! We also have insurance auctions left right and centre including some very interesting and unique products like our $1M Retail Aquariums Insurance Claim!
Want to see more big name products going for a bargain? We can make that happen.
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