Question about old inventory

Sorry for the vague title. I didn't really know how to express it.

I work for a company that deals in very specialized electronics. Most items range from $200 to $10,000, many even higher. We have some old inventory that has been sitting on our shelves for almost 3 years that we have not been able to unload, mainly, from my point of view, because my boss refuses to take even a small loss.

In my logic, I think it is better to unload them at bargain prices to free up that capital and use that money to buy some popular items and start making some profit there and then use that money buy more popular items to make more profit and so on and so forth. My way of thinking is that the the loss will eventually be made up.

I'd like to ask you business owners if my way of thinking might be flawed? Am I missing something? Is my boss right in his approach to this?

And in the case you think I have the more sensible approach, how can I persuasively bring this up to him? He's already shot me down several times.

Thanks in advance for any insight or comments to this. Much appreciated.

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