The merchandise liquidation business allows for the application of a solid principle of investing:
To be successful, one must buy when the unusual opportunity is presented.
In the closeout business it means accommodating the needs of the supplier looking to unload the excess inventory at a particular moment in time. A moment which allows the most attractive deal to be made. The arbitrage may need time to work out. Merchandise that is not worth much, at a specific moment in time , to the company looking to part with the inventory , will most likely have more value to someone else, at a later date.
If especially lucky everything moves at the same time. When this happens you have more of a trade than an investment. Either outcome is good in the liquidation business. It is not often possible to predict the outcome but with the patience to wait, the money to invest, and the ability to hold the liquidated inventory at reasonable cost , you have a decent investment.