If you have had your eye on some beautiful console tables for a while, now is the time to pounce to have those furniture pieces you will adore for years to come. Generally, larger furniture pieces like console tables cost a fortune. They are more the designer end pieces of home furnishings and are priced accordingly. It’s understandable why quality console tables cost a lot. Not only are they generally beautiful pieces of furniture, but they also serve many storage functions while still being stylish.
So, why are you being advised to buy one now? Because of the economic situation.
When there is a downturn in the economy, people are usually more guarded with their money. Those who would regularly be out enjoying a shopping spree here and there are instead saving all those pennies just in case.
Thanks to the media they have a list of doomsday scenarios in their mind that could come true at any time from a complete collapse of the banking industry to something more personal like the loss of their job or inability to pay on their mortgage.
This type of fear of what may happen in rocky financial times causes people to keep all their spare pennies and try to stock cash away for the rainy days that may well be ahead.
But if you have money, this may be the perfect time for you to go shopping. Furniture companies are having a tough time selling the pieces in their showrooms. Heck, people are cutting back on their necessities; new furniture is a luxury they won’t even consider.
That means inventory is sitting on showroom floors, costing money.
As of late one of three things is happening to most furniture stores:
They are filing bankruptcy
For companies that just can’t make enough to stay afloat, many are filing bankruptcy and giving up on trying to pull themselves out of the rut. Once this happens, their assets are liquidated to pay their creditors. This could well mean those expensive console tables you have been wanting are about to get much cheaper. Often they are sold at auction to the highest bidder, which could be pennies on the dollar.
They are going out of business
Many furniture stores know the bad times are here and don’t want to wait until they get worse and they too are forced into bankruptcy, so they are deciding to liquidate their inventory and closing their doors as a way to keep from going broke.
They are doing what it takes.
While there are some businesses that are not willing to give in and close up shop yet, they are still struggling. This means they are being forced to do whatever it takes to make a sale. For many that means they will take almost any price, as long as it covers their costs for the piece, in order to make a sale and get more liquid cash. This means you may be able to get a piece half off or more from what it usually would be.