Liquidation sales could be a big, fat red flag

Reported by Mika Highsmith email | bio
Posted by Kate Oatis email

TOLEDO (WTOL) - In this tough economy, many businesses are being forced to close their doors for good, and some of them want to liquidate their inventory.

In fact, liquidation sales could mean good deals for consumers, but you have to be careful, says Dick Eppstein with the Better Business Bureau.

"We all think that when we see a sign that says 'going out of business sales' that we can save a lot of money," Eppstein said.

But when you're dealing with liquidation sales -- those held by private companies -- you could be taking a risk.

"In some cases... the liquidators re-price everything and it says 40 percent off and it's really the original selling price," Eppstein said.

It's best to shop around and check for complaints with the Better Business Bureau. If you're  going to buy, haggle with salespeople for a better price. Also, pay with a credit card and check for a warranty.