Someone spent 6 hours paying for super cheap stuff at a Walmart going out of business to re-sell it
 

Walmart announced earlier this month that it would close 269 stores and lay off thousands of employees.

And this brought to life a classic retail arbitrage scheme: buy cheap stuff in a defunct store and sell it for a markup somewhere else.

From The Wall Street Journal:

Sam Cohen, owner of e-commerce company DWNY LLC in Ocean, N.J., sent three employees in a 26-foot truck to the nearest closing Walmart, about 160 miles south, in Baltimore. They hauled off $35,000 in merchandise, like Legos and Star Wars pajamas, which he said he expects to sell for as much as $100,000 on Amazon. "It took six hours to scan and pay for all the items," he said. "It was time well spent."

Wal-Martâ??s store closings presented a special bonanza. Earlier this month, the Bentonville, Ark.-based retailer began slashing prices by 50% in an effort to clear inventory before closing Supercenter and smaller Express stores. It eventually cut prices by 75%.

And while these store closures might be a boon for a few online retailers, the company is also laying off thousands of employees as part of this plan.

But perhaps even more brutal than the layoffs is the impact a Walmart coming into town, crowding out smaller stores that can't compete on price, and then leaving that town a few years later can have, as chronicled by Bloomberg's Shannon Pettypiece earlier this week.

It seems, however, that much of Walmart's motivation for closing stores â?? many of which were smaller stores rather than the iconic Supercenter â?? is increased competition from Amazon itself on household staples.

By focusing on online sales, Walmart thus hopes to effectively offer the same products at the same price with even more convenience. But the path to this future is, like most things in business, not entirely smooth.

Someone spent 6 hours paying for super cheap stuff at a Walmart going out of business to re-sell it on Amazon - Yahoo Finance

Makes sense, buy low/sell high, doubt I could stand being in a Walmart for 6 hours though. :2 cents:

Is this a personal story and not a copy and paste?

yup it does make sense but my town only has one wally world and it's not going anywhere..

I still enjoy going there once a week for my groceries and alcohol. Where else can I go and save $10 more than a grocery chain and get to laugh at ThePeopleOfWalmart? It's a nice break from online work and the place never fails to deliver laughs

This :2 cents: But that goes for any store... 6 hours in a store? Then I might as well get a job there.

I do this everyday.. Amazon is like printing money.

You use Amazon for the cheap buying? Where do you sell?

No, I buy cheap and sell on Amazon.

:thumbsup:thumbsup

where do you store the product? how big is your van?

Leave him alone you bunch of honks

LOL, Nice being a fit large man, 99% of people dont go past a funny look :D

I have a large storage unit. But Amazon has what is called FBA.. I send shit to them and they store it/sell it/ ship it and deal with customers.

I buy it ship to them and look at my pretty bank deposit then go buy more..

nice.

how you getting getting traffic? fb? cl?

god why are you telling them this?? :helpme :1orglaugh i have an even better deal!

Amazon is one of largest sites on the net.. It's the Hun.net of the early 2000s. I don't send them traffic, I send them content..

Instead of porn, it's retail goods both new and used.

Sounding more Republican, I'm proud of you. Lol

yeah sorry i get ya ...

Funny taht I thought the same :1orglaugh
As a hardcore left winger he should "redistribute" that money to society leechers.

You claiming I should give money away like a hardcore left winger would be like me asking you why you aren't in church as a hardcore right winger..

There are different sides of left and right. I'm more on the side of the govt should be working for the people not big business and tax dollars should be spent to benifit of the people not Northrop Grumman..

I'm not so much a fan of free handouts...

Fair enough. :thumbsup

Although church has nothing to do with right wing. At least in Europe for example. If you tell you are right winger nobody thinks that you are church goer or extreme Christian or whatever. Church and political views are different things.
In US they try to relate them, but even in US right wing does not mean church goer. Big portion of right wing goers are church goers, but at the same time even bigger portion of right wingers do not go there often or do not believe in God.
Same as there are plenty of extreme church goers in left wing as well.

While if we speak about "redistribution" that is directly linked to political ideology.

So not a correct comparison.

many of the richest americans are "liberals" ... whatever that means any more.

hopefully you aren't so self-brainwashed that you think unless you are a selfish xenophobic right wing nut you can't have any business sense?

:1orglaugh:1orglaugh:1orglaugh you look off dogg

For those that think I'm BSing... sorry for the crap picture it was dark when I dropped the stuff off at my storage.

http://i.imgur.com/qxZgz9G.jpg

This was today's haul from 8 stores. Sunday is my thrift store day as it's the day one of the big thrift store chains rotate their 50% & .99 cent tags. At 8 stores I spent 269.97.

In that mess is... (prices are my sale points)

Original xbox $70
Gamecube $55
2x PS1's $30 each
1 x box360 guitar hero (I pair it with the game $60-80)
1x ps2 guitar hero $30-40 with the game
3x Rock Band sets $300-500 total (these are out of the pics but parts are shown)
2x cash registers 80-100 each
6x men's jeans ($20 an up)

There is a bunch of other stuff like 2 sets of wireless game controllers, a like new refurbished Sony Walkman cassette player. Various odds and ins to complete other game console bundles I have or for future sets.

These are prices I get, I sell this kinda stuff all the time. The only thing I've never sold before are the cash registers. Low ball is $80 each.

Meaning conservative estimate is around $900 in sales from that $269.97 I spent today. I also lose about 30% in fees/shipping costs. The shipping costs I can usually cover by adding lots of low-profit items in with my shipments if it goes to Amazon. If I sell it on ebay I charge shipping.

I don't always do so much gaming stuff, but it just what I happen to find on a given day.

As I said.. printing money.

It warms my heart to see some capitalism in you instead of the usual ........... :thumbsup

I've had several businesses in my life. I'm not sure why you righties always sem to think people on the left side don't know how to make money..

I know a fiend with a baby stroller that can get you 90% off. That's only 7000 for 100k worth of pajamas.