For decades brands have wrestled with the question of what to do with their excess stock. Publicise it in order to sell and risk devaluing the brand while reducing profitability or stay quiet and face product mountains in warehouses and wastage on a huge scale.
For years it’s been almost a taboo subject for manufacturers and suppliers. In fact, it’s a trillion-dollar industry few consumers even know about.
In recent years, as retail conditions have become ever more challenging and margins have reduced further, the problem of overstock has reached critical mass. Something needs to be done so brands can protect margins in a controlled space while buyers can access high volumes of premium stock at significantly discounted prices. That’s where buyfair.global comes in.
Buyfair.global provides a simple solution to a complex problem. The first ever multi-lot auction site for premium design brands promises to maximise returns for sellers and buyers while protecting brands on a unique business-to-business multi-lot auction site.
The brainchild of founder and CEO Dominic Speelman, buyfair.global provides a solution for sellers with excess stock and buyers who travel the world looking for stock.
“The beauty of buyfair is it’s a multi-lot auction so it’s the perfect marketplace,” Speelman said.
“That’s what makes it fair for all and doesn’t undermine your brand. As a seller you can put a reserve price down which means you set the minimum amount you are prepared to sell the product for. This gives brands the best possible return on stock while buyers get access to high volumes at discounted prices. It’s a win-win.
“For years overstock has been an almost taboo subject. Buyfair.global recognises it and provides a premium solution for buyers and sellers.”
On the buyer’s side, the multi-lot element to the site, achieved through a unique and sophisticated algorithm which has been years in development, allows access to flexible quantities of some of the world’s premium design products at significantly discounted rates.
Fast, competitive and transparent, buyfair.global provides buyers with access to thousands of high-quality products without the need to travel the world searching for them.