RavBytes: Going Out Of Business Sales Are A Bum Deal

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They are the modern version of Ulysses' Sirens for shopaholics - the guys on the curbside holding the signs touting amazing deals, 'everything marked down.' Three major retailers in St. Louis are closing up shop, Circuit City, Crestwood Court's Macy's, and Linens and Things, and they are liquidating their inventory. Usually store closing sales mean great deals for you and me, but in the latest wave of going out of business sales retailers are coming under criticism for marking up their items before they mark them down. Scandalous, but its working. Have you stopped by a Circuit City lately? The shelves have been ransacked and they even announced that they will be able to close two weeks earlier than they had planned because so many people have been scooping up these 'bid deals.'

There are all sorts of Better Business Bureau tips to avoid being scammed, but it is really as simple as doing your research to avoid being taken in by the Siren song of markdowns. Remember, just because it is a liquidation sale doesn't mean you can't shop around and compare prices. For example: Circuit City's laptops are going for about $200 more than the sale price at other electronic stores, and the sales on glassware at Macy's are better in the stores that are staying open than the store that is closing. These liquidation companies are in the business of making money, so are we really surprised by all of this pricing monkey business? Shopping smart and avoiding the 'going out of business' siren's song can save you a lot of money, and who couldn't use some money savings right now?