Excess stock FAQ: what sellers ask us

Most questions about selling excess stock come down to three things: what's it worth, will I get paid, and will it come back to bite my brand. We have been buying and selling excess stock for over 30 years from our Sydney office, and these are the questions we hear most, with straight answers.

How do I sell my excess stock?

Send us the details, let us survey the market, and in most cases we'll make an offer for the whole parcel.

You want the stock gone quickly, at the best price, without your other products losing their regular price. There's a set order of steps that gets that result, and skipping one usually means a lower price, or no offer at all.

1. Send us the details. That means a stock list spreadsheet (SKU, description, quantity, cost or RRP if you're happy to share, and best-before dates), photos and the location. Buyers trust what they can see. A clear list and good photos are the difference between an offer and silence.
2. We discreetly survey the market. John talks to a range of buyers in different places to find out what the stock is really worth. "One buyer might say the market is lousy, another buyer might not have any space left in your category, another buyer might like your product but their manager won't approve it. In my thirty years of experience, I can safely say that I have seen everything (at least twice!)"
3. We present the parcel the right way. Buyers are busy. A department-store purchasing manager receives 200 to 300 emails a day, so a photo and a price on its own goes unnoticed. The parcel has to be presented so a buyer takes it seriously.
4. We protect your brand at every step. You might want to restrict where the product is sold, keep it away from your regular customers, or have it repackaged. We take all of that into account before anyone is approached.

In most cases, John then makes you an offer to buy all of it. If that isn't possible, he gives you his best advice on how to sell it. Tell us about your stock to get started.

Selling to us

How quickly will I hear back?

John gives a first response the same business day. How long the offer itself takes depends on the parcel; a full stock list and photos speed it up.

What kinds of stock do you buy?

Excess stock, overstocks, discontinued lines, short-dated stock and liquidation stock. Over the years we have bought and sold food, soft drinks, clothing, shoes, sandals, underwear, personal care, cosmetics, hair care, nappies, toys, electrical products, batteries, paint, adhesive tapes, cleaning products, insecticides, sunglasses, paintings and much more. Browse by category: food and grocery, clothing and footwear, health and beauty and general merchandise.

Is there a minimum quantity?

No. We like small parcels too, because a small parcel sometimes leads to a big one.

Do you buy stock outside Sydney?

Yes. We buy from anywhere in Australia, from New Zealand and internationally, and we do it all the time. We work from our Sydney office in Parramatta by phone and email.

Are you a broker, or do you actually buy the stock?

We buy the parcel ourselves and resell it through our own contacts: major retailers, discount chains, overseas buyers, charities, wholesalers and distributors. We don't charge sellers fees to broker or advise.

Will you buy just part of my parcel?

We prefer to make an offer on the whole parcel, because that clears your problem in one go. If buying all of it isn't possible, John gives you his best advice on how to sell what's left.

Is it better to sell excess stock on eBay or an auction site?

For a handful of items, it can be. For a large parcel it's slow, and it puts discounted stock right in front of your own customers. We explain why in don't sell excess stock on online auction sites.

Price and payment

How do you work out what my stock is worth?

John discreetly surveys the market, talking to buyers in different places to see what they'll pay and what they won't. The offer reflects what the market will genuinely take for your parcel. Our guide on how much your stock is worth covers what pushes the value up or down.

Why don't you quote a percentage of cost or RRP?

Because every parcel is different. Dates, brand, quantity, packaging, season and how many buyers want it all change the value, so any general percentage would mislead you.

When do I get paid?

We send payment promptly, as per our agreed terms. Those terms are agreed with you before the deal goes ahead.

Do you charge any fees?

No. We don't charge sellers to broker or advise. Our only paid service is separate business consulting on importing from Asia, distribution and exporting.

Should I take the first offer or hold out?

Holding stock costs money. Storage, insurance and falling value all add up while you wait. Our article on when to take an offer on your overstocks helps you weigh it up.

Brand protection

Will my stock end up competing with my regular customers?

Not if you tell us where it can't go. Our first guarantee is "We strictly follow your guidelines in relation to pricing and distribution locations." We choose buyers whose channels don't compete with your regular trade.

Can you keep my company name confidential?

Yes. We survey the market discreetly, and we don't publish your brand or your reasons for selling. Our fourth guarantee is "We speedily and discreetly convert your stock into cash at the highest possible price, without damaging your market position." Read more in protecting your brand when clearing stock.

Can you sell my stock overseas?

Often, yes. Overseas buyers are one of our regular channels, and export keeps the stock out of your home market entirely. We once bought 19 containers of washing powder in New Zealand and sold them to Singapore without meeting the buyer or seller.

Collection and logistics

Who arranges collection?

It depends on the parcel. We're happy to arrange collection, or you can deliver. It's flexible and agreed per parcel.

Does the stock need to be in Australia?

No. We have handled parcels sitting in Singapore, Italy and New Zealand.

What if the stock has a problem, like damaged packaging or wrong labels?

Tell us up front. Sometimes stock has something wrong with it, such as the labelling, packaging, dating or a fault. We are transparent and honest about it with buyers, and we can often still find one.

Food and short-dated

Do you buy short-dated food?

Yes, regularly. We have sold 37 semi-trailers of short-dated orange juice. The earlier you contact us, the more buyers can still use the stock. See short-dated stock buyers.

Can food be sold after its best-before date?

Food Standards Australia New Zealand explains that food with a best-before date can legally be sold after that date provided it is fit for human consumption, but food can't legally be sold after its use-by date. That's general information. Check your own product with your food safety adviser. Our guide on what out-of-date food labels really mean explains more.

Should I use a food broker instead?

It depends. A broker usually sells on your behalf, while we buy the parcel outright. Our guide on whether to hire a food broker sets out the trade-offs honestly.

Administration, liquidation and closing down

Do you work with administrators and liquidators?

Yes, closely, and we'd like to do more of it. Insolvency practitioners like working with John. See administrators and liquidators. For general information on the insolvency process, ARITA and ASIC are good places to start.

I'm closing my business. Can you buy the remaining stock?

Yes. Send us a stock list and photos, and we will survey the market and, in most cases, make an offer for the lot. See closing down business stock. For legal and tax questions about closing, talk to your accountant.

Can I write off stock I sell to you?

That's a question for your accountant. Our guide on writing off obsolete stock explains the general ideas so you know what to ask.

Still have a question? Call John on 0411 430 047, email john@coorey.com, or send us your stock details.