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What is a fire sale ?

A fire sale is a sale where the goods are in a very low price, usually below retail value and sometimes way below the wholesale price. The main goal of a fire sale is to sell as dispose as much goods as possible, with the seller sometime willing to take a small loss just to get as much merchandise out of the door. Closeout and blowout sale are the other terms that are sometime used for a fire sale. This states the idea that buyers need to move fast of they want to get something.

The term “fire sale” came from sales made by stores who literally caught their shops on fire, damaging their goods. Stores have no choice but to get as much merchandise out of their shops. The items sold are perfectly usable; however, a little smoky, and it is wiser to have something from it than to discard them. Once the goods are all disposed, the store can immediately start renovation and restock.

Even if not all the items are good for the market, partially damage goods can be bought at extremely low price in a fire sale. This happen often when a consumer is willing to use an item that smells like smoke for a few months or if they are willing to repair partially damaged goods. If the store is insured, the money coming from the fire sale would just be an additional capital, since all the damage are already being covered by the insurance company.

A fire sale can be a good way to find great deals, mostly for people who are willing to haggle and bargain a little to lower the price a bit more. You can find fire sales in newspapers or in other media, as the seller wants as much exposure as the fire sale can get.

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