Why Is Closeout Jewelry So Affordable?
One way to buy jewelry at an affordable price is to buy closeout jewelry. Jewelry that is available at closeout prices is priced as such because a company has excess of one style, there is too little stock left to sell of one item, or because some of the product has been damaged. Buying closeout jewelry, or jewelry on clearance, is a great way to purchase expensive or high-end brand jewelry within your budget.
Job-Outs versus Salvage
There are two main categories of closeout sales. The first is called job-outs. This category includes the products on closeout that are being sold at such a low price because they had not sold during the intended season. The likelihood that these products have been damaged is very low, but typically the items sold at such a low cost are out of season or not as popular as other products sold at the same time. Often a closeout sale or a store that sells closeouts has an accumulation of products from a variety of stores. For example, a closeout retailer may work with a broker to purchase the remaining stock of silver bracelets from a few department stores or jewelry stores.
Salvage closeout, on the other hand, is made up of damaged goods or floor models. These products may be marked as damaged or open in a clearance section of a store or they may be sold in lots to companies that specialize in selling closeout products. Often buying floor models is a productive way to buy a product that is not damaged, but has been exposed to minimal wear and tear. Though because the item was used as a sample, the store will have taken good care to keep in sellable condition in order to convince consumers to buy the same design.
The Difference Between a Closeout and a Clearance
As it turns out, the words closeout and clearance both have the same meaning. Whenever you see products advertised as clearance or closeout, you can be assured that there will be very low prices because the retailer is trying to sell the rest of a product that they have in stock.
Currently closeout stores, like Big Lots or TJ Maxx, are very popular because they sell job-outs that they have purchased in bulk. With patience, you can find great prices on brand names. Stores of this kind also sell closeout jewelry, so you can buy an entire outfit, complete with accessories at a closeout store.
The Reputation of Closeout
Often, closeout items have a bad name because they are considered the rejects or unwanted leftovers from their original retailer. For this reason, many people stay away from purposely purchasing closeout items. The stigma, though, is unfounded for the most part. Assuming that a retailer is selling job-out closeouts, the only problem with the merchandise is that it did not sell in the first place. Typically, these pieces—especially those made by a high-end brand—are in fine condition, if only a little bit out of season.
The emergence of closeout stores like the ones mentioned above has helped closeout merchandise to move away from the social taboo that has plagued it in the past. For especially thrifty shoppers, buying fine clothing and fine jewelry on closeout is the best way to maintain their style without spending too much money.
The Authenticity of Closeout Jewelry
Just like purchasing clothing from a closeout store, the jewelry you purchase on closeout may be a great deal because it was originally an expensive item, but it might also be an inexpensive piece sold at a smaller discount among jewelry that was at one time much more expensive.
When you are shopping for closeout jewelry it is important that you not only consider the condition of the item, but also its presumed original retail value. A diamond bracelet that came from a high end department store may be priced similarly to a diamond bracelet made by a lesser known designer. Thus it is up to you to make sure that you are getting the best deal possible. Also be aware of jewelry that is priced very low, may not be of the same quality that you are expecting for a more expensive item that is also deeply discounted from its original retail price.
Whether your are interested in brand names at the deeply discounted prices or jewelry that is within your budget, there are good deals to be had at closeout sales and at closeout stores. It just might take some searching to find exactly what you are looking for.
Buying Closeout Jewelry In Bulk
Stores or wholesalers who are trying to sell jewelry that they will no longer be offering consumers will sell their extra product to a broker or a carrier of clearance goods. If you are starting your own business selling jewelry, one option for buying low-priced jewelry is to purchase closeout trailers. This way you can purchase jewelry that is sellable, but costs even less than purchasing from a wholesaler.
Make sure to consider, however, that jewelry sold as closeout may have a variety of styles in one trailer. Because closeouts are typically an accumulation of left over products, you may get five rings of one design, twenty bracelets in the same color, and thirty necklaces from a completely different brand among other things. Purchasing jewelry this way to sell can be very positive because you will have a wide variety of items to sell to your clients, but it will also mean that you will have a limited number of some items. Due to this imbalance of product, your stock will change and differ each time you buy another closeout trailer.
Some stores, in fact, comingle jewelry purchased at closeout and items that they purchased wholesale in order to increase their profit margins. This is especially common in smaller, independent boutiques. Because the closeout jewelry is in good and sellable condition, you will never know whether the earrings you bought were bought from a wholesaler or on closeout.