that is the correct move. i actually suggested that to the previous batch two years ago. this is because i observed here in Davao that ex-warehouse prices are quite low compared with pricing at traders' shops at the Pier in Manila (or even traders' shops here). if you can go direct to suppliers as a group, amp pricing is only P10 per watt (power consumption at the back as basis), while CDP, TT, and tape deck (upscale or mid-model) is only P500 each. VHS and Betamax machines are sold only at P100 while TV, 14 inches at P300 to P500, bigger screen TVs as low as P1,000 (i got a good-condition Hitachi 28-inch widescreen TV at only P1.8K)
the scheme here in Davao is you deposit a certain amount and they call you when a container van would be opened. then you can choose from the equipment being unloaded. in effect, your group will be competing against the other traders who operate surplus shops. if there are more than one trader (including your group) interested in the unit, the auction system applies. thus, the higher bidder gets the equipment. the total amount of the equipment the group chooses is deducted from the group's deposit, which needs to be replenished regularly.
i'm not a trader, so i only get to buy from warehouses here units the traders did not choose. if i like a unit that went to the trader, i would usually chase him and offer a premium price higher than his acquisition cost. in my experience, 7 out of 10 "as-is" units from warehouses are in good working condition, or could be repaired at home - i.e., replacement of belts or fuses - while the rest needs a technician and almost always could be repaired within a day.