Austin H.
Nearly $100,000 Spent Through BULQ, Here Is Why We Stopped Sourcing With Them - An In-depth Review
Nearly $100,000 Spent Through BULQ, Here Is Why We Stopped Sourcing With Them - An In-depth Review When we had first heard about BULQ, we thought it might be a great opportunity to source products for our business. Below is an in-depth review of the issues and misrepresentations we’ve encountered since we started sourcing through BULQ. 1. Retail Estimates Are Not As Advertised - The Retail Prices shown for items, cases, and pallets are not always as advertised, and in some instances as we’ve seen, blatantly marked out of proportion in order to encourage buyers to order the lot. We’ve noticed an iPhone 8 marked for $1400, Wired EarBuds marked as $999, and more price markups that don’t match their actual current retail value. 2. Claims - Across 47 Orders since 2019, we’ve needed to file a claim for 43 of those orders. A large amount of those claims had to do with the “most expensive” item in the lot. We had a circumstance where a Case was advertised to include a $2400 brand new 2020 MacBook Pro among other items. We found this to be a great deal considering the cost of the lot was slightly below that price. Instead, we received a used 2010 MacBook Pro with a faulty screen with an estimated resale value of about $100. Their refund calculations are based upon “an internal system” that calculate their wholesale value. The retail value listed for an item will not be an indicator as to how much you’ll receive as a refund for your claim. 3. Jewelry - From our experiences with BULQ, all jewelry comes unmarked, unbranded, and with no tags or signs of authenticity. We only specialize in electronics, so for jewelry items included in the lots we have bought, we found it applicable to take it to our local pawn shop. For an item marked as a $450 retail value, we were told that the jewelry was “costume jewelry” and virtually worthless. 4. “Price Drops” - We’ve noticed a new tactic that BULQ has employed which is greatly misrepresenting their “price drops”. You’ll see a lot that is listed as a 30% price drop with a price of $4000, and a retail value of $4500. That would mean the original price is above the retail price. Apparently this tactic is used so that buyers believe they’re getting a great deal because the price has “dropped” by 30%. 5. Overall Fundamental Values - Given all of the deceptive practices and misrepresentation from BULQ, it is disheartening that a company would look to “prey” on small businesses as a source of income. While we understand the customer service staff does not have direct information into the operational tactics of the business, we have had conversation with a few customer service representatives from BULQ that agree that some of BULQ’s practices “do not look right”. We understand what it takes to build from a small company to a million dollar business. There are no short cuts or deceptive tactics you can take to cheat your way there. Honesty and trustworthiness is more valuable to us than money. We hope that BULQ will understand this fundamental value in the future.
Response from BULQ.comApr 12, 2021
Hi! We appreciate your feedback and apologize for the experiences you have had. A Customer Care Specialist will reach out to you shortly to address your concerns.