Beware the Liquidators

A lot of businesses are going out-of-business or closing stores -- if you are lured into any of these sales, be careful. Many of them promise 30% off (or more) but they are either selling the items at a percentage off the listed price or they've jacked up the price significantly. You may think you're getting a deal but you might not be, so pay attention.

One of my favorite stores has always been Goody's (mostly clothing, some jewelry & gifts). Goody's is a discount store -- not like T.J. Maxx or Ross but their prices have always been significantly lower than the list price -- many times I've seen the exact same thing in Goody's that I've seen in Macy's -- but the price is often $15 - $20 lower. However, now that the Goody's store here is closing, they are having a huge sale -- except the sale price is the percentage off the listed price, not the previously lower Goody's price -- and, if you're not careful, you may end up actually paying either more or the same than you would have before.

I've heard that Circuit City has raised their prices, then marked them down from the higher price -- so folks think they're getting a super deal. Of course, if folks aren't familiar with the pricing in particular stores, they may not realize what's happening.

I realize that these businesses are trying to cut their losses during these desperate times but it really doesn't leave me with much goodwill toward these stores. I am not saying that all stores are doing this but it's worth noting that some definitely are.

As an aside, you also have to watch percentage off coupons -- even for stores not going out-of-business. For instance, I frequently use a coupon at Borders -- but, in small print, the coupon often says "25% of the list price". For books, this usually doesn't make much difference because the list price is usually the price but, for some reason, the price marked on DVDs is usually lower than the list price -- however, the percentage will be taken off the list price, not the lower price. This same thing happens on websites like Deep Discount -- they're usual prices are really great but when they have a sale, the discount is almost always off the list price -- so, while it may still be cheaper than what you might find elsewhere, it'll be more than you think if you're trying to subtract the percentage off from the already discounted prices.

Jeez...I don't know if I've made one iota of sense -- so I'll just leave you with this -- watch out!