The authors of this paper discuss the issue of clearance sales and consumer protection from potential malpractice at these sales. The authors first stress the fact that clearance sales are a common practice in commerce and they are generally conducted for the purpose of selling out seasonal merchandise whose shelf life is about to expire or for any other justified purpose. Customers are usually informed about these sales through sale advertisements. Advertising of sales should be moderate, i.e. not too aggressive, so that the consumers are only informed that certain merchandise is on sale. However, these advertisements are sometimes very aggressive in order to draw the attention of those consumers who were initially not interested in certain types of products or services. Given the purpose of these sales, they should be genuine, i.e. the prices of merchandise on sale should be considerably lower than the regular ones. Only then can we talk about real clearance sales. Nevertheless, in addition to genuine sales, there are also ostensible sales, which may even be dominant in practice. The authors of this paper analyze pertinent legal solutions in national legislation, comparative law, EU law, and the law of former Yugoslavia. They conclude that presentday clearance sales are inadequately regulated both in Serbia and in comparative law and, consequently, that consumers are those who suffer the most. They further conclude that this field was downgraded from a former Law on Clearance Sales from 1884, which successfully protected consumers from various sales abuses. Today, this field is regulated by scant provisions given in two different laws.