Word: auction
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...These days, the auctioneers are selling more than just art, antiques and the furniture from Aunt Esther's estate. As the economy fell, so did the demand for discretionary items sold at most community auctions across the country. Desperate for new revenue streams, auctioneers have started selling basic grocery store items to help pick up the slack. Hungry for bargains, shoppers have started bidding on fruits and vegetables. As long as the final offer comes in below the grocer's retail price, they'll save a few bucks on the essentials. "Right now, the auction business is in a downfall...
...During the downturn, auctioneers in Michigan, Indiana, Tennessee, Pennsylvania, Georgia and other places have either added groceries to their programs, or increased the frequency of food sales. Grocers are eager to hand over their goods to the auction houses once they know they're not going to sell them in the store. For example Clyde DeHart, owner of DeHart's Auction Service in Carlisle, Pa., takes "scratch n' dent" items from a nearby BJ's Wholesale Club store. Since BJ's sells in bulk, if one can of corn gets smashed in the truck, the whole case...
...Some items are near or slightly past their sell-by dates, but these days, expiration won't keep shoppers from a discount. Other stuff is just sitting on the shelves, and will go to waste if it's not auctioned off. The grocers get the proceeds from the sale, and the auctioneer takes a cut for commission. DeHart, for example, says he usually receives about 30% of an auction's proceeds. He started running grocery auctions three months ago. During one five-hour auction in March, bidders paid $10,000 for groceries that retailed for $26,000. (See pictures...
...next big sale on April 17, DeHart lists about 100 items on the docket, including coffee, Pampers, Twizzlers, relish, macaroni & cheese, and Chef Boyardee. "This is the DeHart's (sic) stimulus plan," his listing says on dehartsauction.com, "and it does work." (To find a grocery auction in your area, try auctionzip.com, a site that lets you search for sales by zip code. Type "grocery" in the "keyword...
...Auctions only work for shoppers if they do a little research. Consumers need to know the price of a given item in the local grocery store, and discipline themselves not to bid above that number. Such self-restraint is no easy task. "We joke all time about the Little Debbies," says Chris Crepeau, owner of Michigan Auction Sales in Holt, Mich. "People always want those specific snack cakes, and pay too much for them." The auction process sweeps up some shoppers - I just want to win, darn it, no matter how much I pay for that dog food. Others figure...