White elephant sale

The term "white elephant" refers to an extravagant but burdensome gift that cannot be easily disposed of, based on the legend of the King of Siam giving rare albino elephants to courtiers who had displeased him, that they might be ruined by the animals' upkeep costs.

White elephant sales are often useful to buyers and collectors, because they provide a way to purchase older and harder to find items.

In the days before online auction and trading websites, white elephant sales, along with thrift stores, yard sales and pawn shops were popular ways to procure collectibles and odd items not available in retail stores.

Problems can arise with white elephant sales in that a great deal of space is required to hold items to be sold.

Other problems include the inability to move merchandise, or the little money produced by the sale, despite its low (or nonexistent) initial investment.