Sharper Image Bankruptcy Renews My Faith in Basic Consumer Intelligence
Author: Nick
Category: Money
Topics: business, economy, technology

It’s likely old news to everyone by now that electronic oddity store The Sharper Image is going bankrupt. You may have heard about it on the news or from a friend. Or perhaps you found out the hard way when you tried to use a Sharper Image gift card in the store only to have it refused. That’s right, as it flaps around like a fish out of sound fiscal waters, The Sharper Image will no longer take its own gift cards.
While I could easily talk at length about how wrong it is for a store to stop accepting its own gift cards, I have to say I’m quite amused by this situation. You see, The Sharper Image is the most perfect example of a store that needed to go bankrupt. I can think of no store, not even my arch-nemesis Wal-Mart, for which financial collapse is a more fitting fate. My anti-Sharper Image stance can be traced to the three characteristics of The Sharper Image that led to its demise:
- The Sharper Image sells nothing but crap that nobody needs.
- That crap is overpriced.
- Despite the fact that Americans like to buy useless, overpriced crap, The Sharper Image couldn’t figure out how to sell their own useless, overpriced crap.
The fact that The Sharper Image is going under has slightly renewed my faith in the American shopping public. I’m shocked they were around for as long as they were selling dinosaur robots and other technological amusements that are about as fun as stabbing oneself in the face with the broken shards of a Chia Pet. Even I, someone who is easily amused by every latest shiny blinking contraption (fortunately I possess just enough financial restraint to keep myself from buying them… usually), have no problem passing by The Sharper Image every time I encounter one of their stores.
I think the best indication of just how worthless The Sharper Image is (was?) is the fact that some credit card issuers have reward programs that let you trade in one dollar worth of reward points for roughly $8,000 in The Sharper Image gift cards which is roughly enough value to get you one pack of used Sharper Image-brand AA batteries (batteries not included).
Now that I think about it, there is the possibility that The Sharper Image will emerge from its bankruptcy somewhat intact, still taking up shopping mall units that would otherwise turn into emergency backup Starbucks in case the mall’s primary or secondary Starbucks location ever had an espresso machine failure. If The Sharper Image does manage to return from the abyss, please… I implore you, don’t fall for its shiny blinking subterfuge. Stay far away from those robotic dinosaurs and roll-up piano keyboards like in that one episode of Star Trek: The Next Generation, and hopefully The Sharper Image won’t make it very long into Round Two.

80 Responses »
1.
Frugal Dad
February 29th, 2008 at 9:52 am
Sharper Image always reminded me of one of those luggage stores in the mall that sold overpriced, under-used junk to people who really saw value in a 24k golf ball paper weight. Yeah, they had a couple cool gadgets and such, but not much that fit this frugal guy’s taste.
2.
rocketc
February 29th, 2008 at 10:17 am
C’mon on! I need my massage chair with built-in headset and 300,000 settings the comes with an optional footbath! What am I going to do!
Ah! I know – I can get it from the magazine in the back of the seat on my next flight.
3.
heather
February 29th, 2008 at 2:01 pm
Number 3 can be looked at from two perspectives…corporate marketing AND worthless salespeople. Worthless salespeople who not only don’t know what they are selling, don’t know anything about it, and don’t know how to turn on and demo said crap. They also never seemed to figure out how to kick out the chubby guy who spends hours in the massage chair while his wife shops at Kirklands across the way.
4.
Mrs. Micah
February 29th, 2008 at 7:37 pm
So you gave them your money for a gift card and they won’t let you have it back? Ouch. Another reason I don’t like gift cards.
I’ve never even had the kind of money to shop there…no point in looking.
5.
Connie
March 3rd, 2008 at 2:15 pm
I’m surprised it took this long to go belly up! It was a store for people with more money than brains….something I aspire to be!; )
6.
Jonathan
March 6th, 2008 at 3:03 am
I just have to say that I am loving all the stick-figure drawings a la MS Paint. You should collect them in an online album or something.
7.
Nick
March 6th, 2008 at 4:29 pm
Jonathan, thanks! The stick figures are actually part of another plan I’ve had brewing in my head for a while. We’ll see where it goes from here…
8.
Tony
March 7th, 2008 at 8:10 pm
Fifty-eight different vibrators, pens that can record my melodious voice in an emergency, folding hammers, tiny digital cameras that can store 4 million of my precious photos, anything that emits little blue lights…I’m consumed with nostalgia.
9.
Michael
March 9th, 2008 at 11:28 am
I am moderately proud to say that I never spent so much as Dime One at Sharper Image.
At some point, maybe after junior high, it became a pretty easy place to avoid.
10.
SMB
March 9th, 2008 at 3:29 pm
Oh, I loathe that store. Thanks for sharing the good news.
11.
Llama Money
March 12th, 2008 at 9:35 pm
This is one of those stores where I always thought “who would ever buy this crap? And if they did, why would they pay this much for it?”. Apparently I wasn’t the only one, or they wouldn’t be going under.
12.
vicky
March 22nd, 2008 at 9:36 pm
went there today, had $75 on my giftcard – they said i had to spend at least $150 in order to use the giftcard. we walked out.
13.
pedro
March 25th, 2008 at 2:13 pm
I felt the same way about the Gift Card welshing, until I complained to the Federal Bankruptcy Court, and they told me that it is THEIR regulation that enforces the refusal to honor these Cards, until the Reorganization phase is completed.
14.
Austin
April 8th, 2008 at 4:54 pm
Hi, I’m with a company called Leverage. I’m responding for several reasons. 1) I want to inform the consumers that we have a new bankruptcy policy that allows customers holding gift cards purchased via its LeverageCard.com destination from Sharper Image and other merchants filing for Chapter 11 bankruptcy protection to transfer remaining, unredeemable balances to gift cards from other retailers available on the Leverage site. 2) also to get the word out there so that people know there’s a free service available to help them.
15.
Bankruptcy Protection
August 12th, 2008 at 12:45 pm
Anyone have an update on this story?
Is the Sharper Image still in business?
I always liked the stuff in Sharper Image & it seemed to do a brisk business. But, I couldn’t ever figure out who could afford the goods in their store!
16.
fooled again
August 28th, 2008 at 9:55 am
I wish I could say I was as wise, but alas I bought 2 ionic breezes and 5 year replacement warrantees, and now both are somewhat on the fritz because little particles of dirt get stuck in there and no matter how much they tell you to use compressed air to clean them out, it doesn’t work and it’s too noisy and irritating to keep them on. So, my question, does anyone have any advice for me re: any recourse on this, how to get my money back (ha ha)? thanks
17.
Paul
October 22nd, 2008 at 8:02 am
The extended service programs sold by Sharper Image were underwritten by a company in VA called NEW. They were very helpful to me when my camera died, sending me a return label, and, once I sent back the camera, a check arrived shortly thereafter. I had trouble filing a claim on their website, but the person on the phone was most helpful.
800-KEEP-NEW (533-7639).
http://www.newcorp.com
18.
Internzoo
November 11th, 2008 at 11:56 pm
First of all i just loved the way you have illustrated the whole thing with the image used at the top.Affording goods in a very high priced store is always difficult, but still those who have to spend it will spend it, no matter how high priced are they.
19.
the delivery guy
December 1st, 2008 at 3:04 pm
Well that is just great another huge company folds. Leaving hundreds of small businesses like mine who did there deliveries holding the bag. How many small companies like mine will have to fold because we will never see a penny of the money they owe us. Yet the american consumer wonders why we charge so much for goods and services…
Thanks walmart shoppers for all your support
20.
Debt quote
April 14th, 2009 at 9:34 am
Completely agree with the above comment. Thanks for sharing this.
21.
effexor en ligne
July 21st, 2009 at 3:51 am
Interesting way to look at it. For the most part, I agree with you.
22.
Captain Justice
December 23rd, 2009 at 3:21 pm
I agree. Everything I bought at Sharper Image was plain and simple junk. A 6 hundred dollar camera that was 399 online, broke a few weeks later. I have $200 worth of gift cards that are nothing but a free gift to Sharper Image now.
23.
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July 24th, 2010 at 6:58 am
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Thanks for sharing yours ideas.
24.
Jocuri
October 11th, 2010 at 1:50 pm
Heh, marketing marketing
), if you know how to do it sales will come no matter how sucky you are.
25.
Sohbetci
November 17th, 2010 at 5:07 am
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26.
EarlyRetiree
November 18th, 2010 at 11:10 pm
SMB may be bankrupt now but I am optimistic that they will bounce back from this debacle and become as strong as ever! With the good signs of the economy starting to appear, two years are long enough for their hibernation.
27.
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November 28th, 2010 at 12:18 pm
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December 1st, 2010 at 7:49 am
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December 2nd, 2010 at 11:01 am
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30.
mike
February 24th, 2011 at 3:47 pm
The other type of store I dislike is the type that has a (usually) short expiration date on their gift card or certificate.
Let’s see you wever given money for that card or certificate …. and it won’t ‘expire’, so why do you expire your cards or certificates? What difference doe sit make if it is redeemed now, a month from now or a year from now.
I think it’s a scam to take your money.
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June 8th, 2011 at 1:42 am
Consumers are not dump as they thought, its proved huh. They end up in buying overpriced useless products only if they don’t have to think of money while considering a product. ofcourse everyone isn’t that rich and sharper image event has proved most of the buyers thinks why to buy it in this price. Seems most of them does that intelligent analysis before asking to pack it up.
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