The Liquidation Glossary: Insider Terms Decoded

This glossary explains common vocabulary used in liquidation listings, manifests and freight documents.

Sourcing & condition terms

• Customer returns: Merchandise returned by shoppers; condition may range from unused to opened or used.
• Overstock: New, unsold inventory being cleared by a retailer.
• Shelf-pull: New merchandise removed from retail shelves due to discontinuation, seasonal changes or packaging wear.
• Salvage: Damaged or heavily distressed goods, often sold for parts or scrap value.
• NWT / NWOT: New With Tags / New Without Tags.

Lot & logistics terms

• Manifest: A line-item list of a lot and estimated retail information.
• LPN: License Plate Number, a barcode or identifier used for returned inventory tracking.
• Gaylord: A large bulk box used for loose, unpalletized merchandise.
• Casepack: Items packed in their original sealed retail cases.
• LTL: Less-Than-Truckload freight, commonly used for single pallets.
• BOL: Bill of Lading, the freight receipt inspected at delivery.

Value terms

• Estimated retail / MSRP: An estimate of retail value, not a promise of profit.
• Cost per unit: Pallet price divided by unit count.
• Recovery rate: The percentage of estimated retail value actually realized after selling.

FAQ

What does sold as-is mean?

It means the goods are sold in their current condition subject to the seller’s stated claims or returns policy.

What is the difference between overstock and shelf-pull?

Both are generally new; overstock did not sell through while shelf-pull inventory was removed from the retail shelf.