Art Van and the Restocking Fee 7-20-11

I think it is time to delve into some of the "guarantees" that my former boss boasts about. Let us just suppose, for instance, that you or I (actually, I never would, but you might) purchased a piece of furniture from my ol' buddy Art. And let us also suppose that this Mexican or Chinese or Indonesian made piece was in stock at the warehouse, you paid the delivery fee, and it was eventually delivered. Let us also speculate that once it arrived at your home it was the wrong color or did not fit up the stairwell or it was broken and you did not want to try to obtain another one...or you just realized that you hated it! Fortunately, in one of the above situations, my 'ol buddy Art will let you back out of the deal...FOR 15% OF WHAT YOU ORIGINALLY PAID! That's right, you can get 85% of your money back, or get a store credit. That's customer satisfaction! I will ask you to make just one more supposition. What if the item was a $700 sofa? And what if that sofa only cost Art $200? His cost was probably even less, but just bear with me for a moment. A 15% restocking charge would mean you paid him $105 toward this sofa...now his cost is down to just $95! Consequently, if he sells it to a different chump, he has now sold it at a 600% markup. This man is a GENIUS!