Jewelry businesses may hold liquidate to sell assets and pay creditors. The process turns assets into cash that can be used to make payments. Jewelers may also use liquidation as part of their inventory management plan by selling inventory to professional liquidators to move outdated or unsellable merchandise. Some jewelry liquidators also buy estate jewelry.
Liquidation for Insolvency
It is common for insolvent jewelers to sell inventory to liquidators. Jewelry startups fail for various reasons and many contact liquidators to buy their remaining stock. Professionals such as Windsor Jewelers evaluate and purchase sellers’ fine jewelry.
There are several steps involved in closing a business and selling assets. While it’s fairly straightforward, working with trusted, established liquidators is essential. Fortunately, sellers can reach out to experts online and learn more here.
Retailers can lower prices and sell through their usual distribution channels, but it’s a longer process than liquidation. Professional liquidators take possession and pay quickly, according to realtimecampaign.com.
Liquidating to Control Inventory
There’s another reason companies liquidate. Retailers may offload excess inventory, returns, and items that do not sell for other reasons. It is often part of their reverse logistics plan.
Stores can free up shelf space and prepare for new, incoming merchandise. It’s inefficient to have inventory languishing in warehouses or backrooms, collecting dust and using valuable real estate. Per Business.com, holding on to excess inventory can become expensive if stores need to pay for expanded storage.
What Happens to Liquidated Inventory?
Liquidators sell a tremendous amount of merchandise. According to the online publication, In-Store, 424 U.S. jewelry retailers closed just in 2021. Liquidators sell the merchandise they purchase to various buyers.
While it is becoming common to sell online, not all liquidators use this method, preferring a more discrete approach. Those offering fine jewelry, for instance, may sell confidentially to individual buyers, retail stores, and other interested parties.
Startup jewelry stores needing inventory buy merchandise from liquidators. Existing jewelers searching for specific brands can often find them among liquidators’ stock. Liquidation specialists who work with fine jewelry can also provide specialty items for buyers who need antique, vintage, and contemporary jewelry.
Liquidated merchandise is frequently sold at auctions. For example, a recent industry publication featured the headline: Fine Jewelry, Toys, and Other Holiday Gift Options Now Open for Bidding on HiBid Following $45.7 Million Week in Sales.
Liquidators May Buy Estate Jewelry
Fine jewelry liquidators might also specialize in buying estate jewelry. It’s a standard solution when heirs need to have valuables appraised and sold.
Liquidation professionals often work with trust attorneys, appraisers, auction houses, private collectors, and art institutions. Selling to these established jewelry liquidators offers many benefits.
Jewelers have years of experience and in-depth knowledge
Liquidators offer professional consultations
They can sell discretely and in confidence
Buyers offer excellent prices
Payment is quick and on the spot
Jewelry businesses with financial problems often convert inventory to cash by selling it to professional liquidators. Retailers might also sell overstock or slow-selling merchandise to liquidators to free up space and lower operating costs. Liquidators sell to various buyers, including retail jewelers searching for stock. Established fine jewelry liquidators can also buy and sell estate jewelry, frequently working with private collectors, auction houses, and attorneys.
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