WARNING - Do not buy stock from liquidated companies
Just thought I would mention this as a warning to any Amazon seller.
Basically 6 months ago a company i used to buy regularly from were going into liquidation and offered me stock at a great discount which I bought. I had been selling many of the lines for years.
Then recently I found Amazon were now marking the items as 'Detail page removed'. On checking they said the GTIN number was no longer valid. I checked myself on GS1 and sure enough it was not. Ringing GS1 and they explained that the number allocations were licensed - so if a company stops paying the license fee, the entry in the GS1 database is removed and so the numbers become invalid.
I honestly thought GTIN numbers when allocated were for life - well they are - but also depend on the annual license fee being paid
This therefore means if you buy stock from a company going into liquidation, then eventually their GS1 license will expire, all the GTIN numbers will be invalid and Amazon will remove the listing from sale.
So beware of buying stock in this way.
19 replies
Seller_rGtEcZnu0JTRD
It is acceptable to re-list the products using your own GS1 barcodes, and either sell as your own brand, or Generic. The potential issue with liquidated stock is you are basically selling without a guarantee as there is no supplier to go back to, therefore you either need to accept that any problems you will refund from your own pocket, or sell the items as used which will negate this issue.
Seller_mBzMy5fGvPFrw
I am grateful to you for posting this information
Seller_jciKgAtJ6rkm7
I think its great that you have brought this subject up. Unfortunately I have purchased liquidated stock, all brand new and boxed with GTIN numbers etc etc. Ironically the stock was liquIdated stock that came from Amazon warehouse. I have as of yet have not sold one item on Amazon as i am a new comer, but the stock is legitimate but it is also branded.
I now know the importance of branding and currently I am well down this road for my own company.
But regards stock unless it is ungated, there are not many options available apart from another selling platform or return it to auction for re-sale.
So again for a slightly different reason be careful buying liquidated stock you may regret it.
Seller_ocO3gcVqPUhrE
Oh wow, I recently had this problem and had no idea what the issue was.
Makes sense, is it definitely OK to add a new barrcode?
Seller_tI7fFNexuJotW
I wonder if this could become a problem with things like CDs & DVDs.
Once a company stops producing a release and sell out, and have no intention of a re-release, why would they keep paying to keep the GTIN active?
Seller_TJwNJ9UDPgCJJ
You can like others have said buy your own GS1 number bank and re-list the items. No stress at all
