The sale is taking place inside the former Somnia store in the 1800 block of Chestnut Street.
The owners are planning a new store for the location and need to clear out the existing merchandise from both the store and the warehouse.
"We're putting a new retail concept in this space and we have to empty the space; we have to get rid of this stuff so it is make an offer. Just come down, take a look, what you see is what you get, first come, first serve, and the value's incredible," Michael Dornblum of the GEI Group said.
Among the items for sale are a leather sofa and loveseat that originally sold for $2,200 and now can be bought for less than $900.
An off-white sofa, chair and ottoman that originally sold for $3,300, will likely go for about $1,000.
A bistro set, with a price tag of nearly $1600, will likely sell for less than $700.
There are also luxury mattress sets, bedroom suites, lamps and artworks.
Dornblum says he really means it when he says no reasonable offers will be refused.
The store is open until 7:00 p.m. Thursday and Friday and delivery is available.
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