A “going out of business” sale can sometimes be a chance to pick up a bargain, especially for big ticket items. But be sure you know what you’re getting before you spend any money.

Comparison shop before you buy. Don’t assume the going out of business price will be the lowest. Search for the same or similar products at other stores to see how prices compare. Check prices online. Is the quality of the sale product comparable to other products available in that same line?

Sometimes sale prices are marked down to show a deep discount from the manufacturer’s suggested retail price (MSRP). But the MSRP listed may be higher than what other stores in your area are charging, so that the “discounted” price is no bargain at all and may be higher than you would pay to purchase elsewhere.

Look to see who is handling the sale — the store owner or a third party liquidator. In a true liquidation sale, the owner usually sells the merchandise to a liquidator, who then runs the final sale. Liquidation companies are not likely to honor gift certificates, coupons or store credits. There will likely be a no-refund or return policy.

Check to be sure any instructions or manufacturer’s warranty cards are included in the packaging, especially when buying appliances and electronics.

It is against the law to advertise a going out of business sale when the store is not actually closing. Contact your state attorney general’s office if you believe a store is running a phony going out of business sale.