Auction and liquidation sales offer savings of 80-90 percent on all sorts of products

CLEVELAND - How about Black Friday or holiday savings without the long lines and retail sticker prices? Auctions offer 80 to 90 percent savings on all sorts of products.

Tucked in the basement of the 78th Street Studios in Cleveland, you'll find boxes piled high filled with everything from boots to tools. There are name brands and collectibles, some new products and some old.

"It comes in from consignors. We do buyouts, closeouts, and we represent the Bankruptcy Court. When they have a case they'll send it in here," said Neal Grossman, President of Grossman, Inc., a Cleveland auction and liquidating company.

One person's loss is your gain. Grossman's auctions won't exactly put you in bankruptcy court.

The highest bid is sometimes just a dollar. During our visit to the auction on a Sunday morning, the most expensive bid was $5.

"I probably won't buy nothing unless I can get it for 10 or 15 cents on the dollar," Duane Hipp said.

If an auction isn't for you, a liquidation sale allows you to shop on your time frame and still save. The savings are up to 83 percent off retail prices.

Allison Minor usually spends up to $150 on boots. She bought several pairs for $15 each. The catch -- whether the boots originally retailed for $64 or $89, they all sell for $15. Plus, all sales are final.

"I'm getting three pairs which is absolutely ridiculous," Minor said.

If you're looking to steal a good deal this holiday on electronics, furniture, trains, or furs there just might be one buried in the boxes of savings.

The next boot sale is this Friday, Nov. 16. There will be a big Black Friday sale next week. Click here for details.