Search for Bargains Sends Consumers to Secondhand Merchants

Used cars selling well

While regular retailers are still seeing declines in sales and profits, the secondhand sector is doing more business than ever.

Used car sales have gone up significantly, which has been a goldmine for the web site usedcars.com.

Company falls on lucrative times

Sales through usedcars.com jumped significantly. The web site, operated by Dealix, reported sales of $1 million in 2007. Sales jumped up to $5 million in 2008. People are having a tough time getting cheap loans to finance cars, so they are turning to used cars.

The company reports that the dealers it works with sold two new cars to every one used car in 2007. Now dealers are selling two used cars for every new car.

Discount hospital equipment in demand

Centurion Service Group has seen an increase in sales of used hospital equipment through its web site, centurionservice.com. The company buys up all the surplus medical equipment it can find and sells it through live online auctions.

Closures keep merchandise flowing in

Hospitals all over the world have jumped on the opportunity. The company sold $6 million in 2007 and $10 million in 2008. Most hospitals that continue to operate have been holding tightly to the equipment they have. However, hospital closures have provided the company with plenty of equipment to sell.

Bank assets

In other case of “one man’s misfortune is another’s opportunity,” firms that sell assets banks have acquired through business closures are booming.

Comly Auctioneers & Appraisers auctions off the collateral banks are left with when a business fails and turns those assets over to creditors. The company sold $4 million in its 2007 auctions. In 2008, it reported sales of $7 million. ... click here to read the rest of the article titled "Search for Bargains Sends Consumers to Secondhand Merchants"