Opinion on scrap metal sales

**clovis** · #**381** 09/11/13, 08:22 AM

Quote:

Originally Posted by Grumpy old man

Extension cord prices have gone thru the roof around here and I buy everyone I can find BUT I don't scrap any of them I keep them all because the prices will just continue to rise and someday they may be worth a small fortune to those who need them for work !

I agree. A good cord is expensive, and worth it's weight.

But these guys were buying trashed cords, many of them with the plugs cut off, and all of them skinned badly.

Not one of the various cords that sold on Saturday were going to be used. All of the buyers admittedly were buying them to scrap.

I see this at auctions every week...buyers paying whatever they have to for scrap, as if copper was $100 an ounce.

I think some of these buyers are bad with math, LOL.

HappyYooper · #**382** 09/12/13, 09:15 AM

Quote:

Originally Posted by clovis

It appears that the biggest part of my scrap game is over.

For years, I've been buying scrap at estate auctions, garage sales, and estate tag sales. It has been easy to buy a stack of heavy extension cords for $2, and then flip them at the scrap yard for a handsome profit. Many weeks it was easy to clear a $25 profit.

The professional scrappers always seemed to leave me alone on the 'small time' scrap. They always seemed to be more focused on big stuff, which often required a cutting torch and some big muscles.

Well, it is GAME OVER for me. It seems that everyone is in on the small scrap these days. Auction after auction, extension cords and anything made of copper or brass is going sky high. I watched a single extension cord in trashed condition sell for $17 last Saturday. There is absolutely no way that guy is going to clear a dimes worth of profit on that cord.

In fact, of all the extension cords that sold at an auction on Saturday, I am convinced that no one will clear a profit on what they bought. There was a 10% buyer's premium added to the bills.

I believe that the newbie scrappers don't know what they are doing. I think they have dollar signs clogging up their vision...

I've been seeing the same thing here...everybody is now scrapping. I don't have a trailer to go the long distances some of these guys go however I have a good trapper friend that travels all of the local back roads and finds quite a few items for us! Last year he found a stove & dryer dumped off in the woods

The weekenders know that we collect too so they have brought us stuff or have told us where to go to get it!

beowoulf90 · #**383** 09/13/13, 06:51 AM

Well things have changed for me also. But that just means I change my "game"
I'm no longer allowed to scrap out electronics, because some stupid politicians changed the law.. All electronics now have to go to a permitted/licensed recycle center. I was not allowed to dispose of the plastics from the electronics at the dump on Sat even though I've paid to do this many times. If they had been plastics and trash from anything else I could have dumped it..

So now I have to make sure that any and all plastics from electronics are in garbage bags or hidden from view when I pull on the scale before I dump the load of trash..
Just another expense the politicians put on the little guy..

The reason for the law is because the big recyclers of electronics were mad at the little guys like me. They were charging businesses at least $10 per computer/vcr or monitor to dispose of old electronics. Little guys like myself were gladly taking them for nothing and making our money on the scrap.. Thus they were losing business..

So now we have a law that forbids me from recycling electronics..

So now I only take certain things from certain sources (almost feels like dealing drugs). I've shifted my search for scrap metals to HVAC compressors/motors that no one else wants because they are work to get the copper out.. Beware though you have to make sure the HVAC units are pumped down / empty of any refrigerant legally.. I'm getting them from a HVAC & Plumbing company that repairs and replaces these units, so I know for certain they are clean of refrigerant.. That just leaves the oil inside the compressor units which I give to those I know that have waste oil furnaces..

Anyway you just have to find a different source as things change...Don't be afraid to ask a business if they have anything they don't want to work themselves..

**clovis** · #**384** 09/13/13, 09:47 AM

I got to thinking about those extension cords that people bought at the estate sale.

I picked up the cord (that would later sell for $17), and tested it for weight. I often use the "does it weigh more than a gallon of milk?" equation while buying scrap.

As you know, a gallon of milk weighs about 8 pounds, +/-. No way did that cord weigh 8 pounds. It was closer to 6 pounds, in my estimation.

Someone is going to lose some money....

beowoulf90 · #**385** 09/13/13, 01:58 PM

Quote:

Originally Posted by clovis

I got to thinking about those extension cords that people bought at the estate sale.

I picked up the cord (that would later sell for $17), and tested it for weight. I often use the "does it weigh more than a gallon of milk?" equation while buying scrap.

As you know, a gallon of milk weighs about 8 pounds, +/-. No way did that cord weigh 8 pounds. It was closer to 6 pounds, in my estimation.

Someone is going to lose some money....

I hope they were really going to use it for something else, because as you said they are going to lose money if they are scraping it.

I get .80 cents a lbs for any cord/wiring with the insulation on it..
If stripped I get #1 copper price.. But that is a lot of work on braided wire and to me at this point in time not worth the effort. That is until I find a quick and easy way to do it.

With solid wire it is a simple as drilling a hole into a piece of wood and putting a screw through the wood so that the point of the screw cuts the insulation as the wire is pulled through..

**clovis** · #**386** 09/14/13, 09:31 PM

Quote:

Originally Posted by beowoulf90

I hope they were really going to use it for something else, because as you said they are going to lose money if they are scraping it.

I get .80 cents a lbs for any cord/wiring with the insulation on it..

I talked to all three buyers of the cords, and all three told me they were buying them for the scrap value.

Two of the three even got very excited talking about scrap, and how their last load paid over $100. I didn't say anything, but I wondered how much they spent to get that $100, LOL.

Around here, the last time I checked, insulated wire was about $1.00 a pound, but that was several weeks ago. The scrap yard is now paying for content yield, meaning that they are paying more for heavy duty cords than they are for the light duty cords.

They are not announcing the better paying prices for higher yield, but I've noticed it in passing, and they had me separate my cords the last time I was there for the different gauges.

**clovis** · #**387** 09/14/13, 09:39 PM

BTW, I was at an estate auction today.

A stack of cords sold for $40, but those went to a guy who wanted them to use.

It appears that the steel scrapper guy made off like a bandit today at that auction. He told me that he spent $84, and his 3/4 ton Chevy was squatting before he left. Lots of heavy iron, and very little light steel or tin.

He had a good stack of aluminum breakage too, thrown on top. These were aluminum commercial door frames that he bought for a $1.

How did he do today?

I haven't scrapped much steel in my life, and am curious. What do you think?

beowoulf90 · #**388** 09/16/13, 06:46 AM

Quote:

Originally Posted by clovis

BTW, I was at an estate auction today.

A stack of cords sold for $40, but those went to a guy who wanted them to use.

It appears that the steel scrapper guy made off like a bandit today at that auction. He told me that he spent $84, and his 3/4 ton Chevy was squatting before he left. Lots of heavy iron, and very little light steel or tin.

He had a good stack of aluminum breakage too, thrown on top. These were aluminum commercial door frames that he bought for a $1.

How did he do today?

I haven't scrapped much steel in my life, and am curious. What do you think?

If he had his 3/4 ton truck squatting for $84 with steel/tin and Aluminum he did well..

On Sat. I took in 1060 lbs of steel/tin mainly from the compressor motors I'm working right now and got $85 (The yard I go to pays to the nearest dollar).

I also got 66 lbs of copper off those same motors, but 2 of the 12 were wound with Aluminum wire.. So if you take the 10 motors with copper into the 66 lbs I'm averaging 6 1/2 lbs per motor.

Take 66 x $2.50 (average price for #2 copper) = $165 Then add the $85 = $250 for 12 compressor motors. But they were work. Oh there also was the Aluminum wire and some cast Aluminum in a couple of them.

Again it was work and wasn't easy to get to some of it, but so far it seems it will be worth the effort.

Note I haven't cashed in the copper or the aluminum yet. I won't do that until the 55 gal drums are full or I need emergency cash..

As to the electrical cords/wiring. I get $.80 / lbs and my drum normally weighs about 125 lbs when full.

**clovis** · #**389** 09/16/13, 07:03 AM

Thanks, Beo.

What is the price of steel in your area?

I got paid 9 cents a pound the last time I was in, but I only had 40 pounds.

beowoulf90 · #**390** 09/17/13, 06:32 AM

Quote:

Originally Posted by clovis

Thanks, Beo.

What is the price of steel in your area?

I got paid 9 cents a pound the last time I was in, but I only had 40 pounds.

I got 8 cents a pound on Saturday. 1060 lbs x .08 = $84.80 ($85 is what they paid me, they round it to the nearest dollar.)

**clovis** · #**391** 09/18/13, 10:08 PM

I picked up a little scrap at the last auction.

I bought the remaining contents of the garage for $1. I already sold the crushed AL cans for $6.50, and have another box to take tomorrow.

I did happen to get 3 extension cords too, and a little steel. One of the extension cords is a nice quality one, and looks almost new. Part of the conundrum I have is that we flea market for a living. This cord is too nice to scrap, but no one in the world will pay more than scrap price for it. Trust me...I've tried.

So, what do I do? I already have a stack of good cords in my shop. It will sit and gather dust at the flea market, and I take the chance of it being stolen. If I scrap it, I can put the money in my fledgling retirement account, and draw 5% in dividends for the next 20 years. (All of my scrap money, albeit very small amounts, goes into my very tiny retirement account.)

I do think that the poster, Grumpy Old, has a point. A good cord is worth it's weight, and it is a shame to scrap them.

Decisions, decisions.

beowoulf90 · #**392** 09/19/13, 08:59 AM

Quote:

Originally Posted by clovis

I picked up a little scrap at the last auction.

I bought the remaining contents of the garage for $1. I already sold the crushed AL cans for $6.50, and have another box to take tomorrow.

I did happen to get 3 extension cords too, and a little steel. One of the extension cords is a nice quality one, and looks almost new. Part of the conundrum I have is that we flea market for a living. This cord is too nice to scrap, but no one in the world will pay more than scrap price for it. Trust me...I've tried.

So, what do I do? I already have a stack of good cords in my shop. It will sit and gather dust at the flea market, and I take the chance of it being stolen. If I scrap it, I can put the money in my fledgling retirement account, and draw 5% in dividends for the next 20 years. (All of my scrap money, albeit very small amounts, goes into my very tiny retirement account.)

I do think that the poster, Grumpy Old, has a point. A good cord is worth it's weight, and it is a shame to scrap them.

Decisions, decisions.

Good deal on the auction buy..

I understand about the extension cords.. I too have a bunch of good heavy duty ones. My father and I even used good heavy duty exterior extension cords to rewire the 1967 MF backhoe we got for the cost of moving it. It worked like a charm and the wiring is better protected from the weather and abuse. Plus we still managed to make a 25' extension cord from what was left.

Lately if I can't find a family member or friend that needs a cord, I've been putting them in the scrap barrel. All of the interior old style extension cords get scrapped, regardless if new or like new..

It's a shame that you can't sell them for more than scrap valve at the flea market..

**clovis** · #**393** 09/19/13, 04:10 PM

Thanks for the replies, Beo. You have been a great peer and excellent teacher/mentor throughout this thread, and I appreciate that very much.

I went to the scrap yard today, with disappointing results. My daughter's cans brought $2.50, and my ticket wasn't much higher. At least I have them out of my life and out of my way so I can move onto bigger things. Storage is an issue for me, so getting scrap out of here is always a bonus.

I did not scrap the cords I have. #2 insulated has dropped to 80 cents a pound here. Still not sure what to do with these.

I also walked off an forgot my #1 and my clean brass, which I didn't realize until I got to the scrap yard, which is probably less than $20 worth.

It is always amazing to see the other loads that come in while I am there. One guy had a pile of extruded AL and a big tote of #2 copper. I noticed that he was holding at least two $100 bills in his payout.

beowoulf90 · #**394** 09/20/13, 07:00 AM

clovis,

What kind of room do you have for storage?

I use plastic 55 gallon drum with the tops cut off and drain holes drilled in the bottom. But I have room for this outside.

If you have room under a work bench you can create storage for things like brass and copper by using the canisters from shop vacs and such that have wheels on it. My nephew does this because he lives in an apt but has a garage with about a 4' work bench. Yes they can be small, but if you fill them you can make less trips to the yard and get a better payout (larger amount) when you do go.

Hope that helps.

Thank you for the compliments, but they are undeserved. I'm just trying to help those that scrap from making the same mistakes I've made and to try and learn from what/how others do it..

**clovis** · #**395** 09/20/13, 08:42 AM

I probably could find a place to store some scrap, if I had to.

We are full time in the flea market/antiques/ebay business, and we are constantly fighting the onslaught of junk/treasures we buy for resale. "Getting it gone" is our main focus, so flipping our scrap quickly, albeit small, is always a bonus.

The scrap yard is super convenient for us too, and in an area that we frequent often.

Again, thank you for your help in this thread. You deserve those compliments and more. I am a better scrapper because of you.

beowoulf90 · #**396** 09/20/13, 11:48 AM

Thank you again for the compliments.

I may go to a County/ Local municipality (Lancaster County, PA) sale/auction tomorrow. Just to see what I can get cheaply and see what is worth scrapping. I would love to score one of the ATV's, but know I cant' afford what they will go for. Or even the 1953 Ford N tractor. But will go just to see what goes cheap that I can scrap to make a few bucks.. I saw some equipment (food service) that I know will have stainless steel on them, so they will be worth a little more for scrap.

**clovis** · #**397** 09/21/13, 08:21 PM

I spent the day at an estate auction.

Scrap sold for obscene prices again today. A box of light duty cords sold for $55 today. There was nothing special in that box. No RV cords, no heavy duty anything. Just cheap cords that Menard's used to sell as a door buster.

I'm telling you, that box weighed no more than 25 pounds, and probably more like 20.

I am convinced that these buyers have no idea what they are buying, and are clueless to what it will pay at the scrap yard.

Did you go to auction today, Beo? How did you do?

edcopp · #**398** 09/22/13, 12:52 PM

Everybody thinks that they will make a lot of money, scrapping right now. The problem is everybody is doing it and the demand is low. Thus the prices are low.

It's the economy.

A wise person would learn what they are doing as far as separating and preparing the scrap for processing, and then in my opinion it would be a good idea to store scrap until prices and demand improve.

beowoulf90 · #**399** 09/23/13, 06:34 AM

Quote:

Originally Posted by clovis

I spent the day at an estate auction.

Scrap sold for obscene prices again today. A box of light duty cords sold for $55 today. There was nothing special in that box. No RV cords, no heavy duty anything. Just cheap cords that Menard's used to sell as a door buster.

I'm telling you, that box weighed no more than 25 pounds, and probably more like 20.

I am convinced that these buyers have no idea what they are buying, and are clueless to what it will pay at the scrap yard.

Did you go to auction today, Beo? How did you do?

No I didn't get to go to the auction. I ended up with the flu or some such type of sickness, so I took the weekend off and stayed home. The wife has been suffering from it for a week now, so I figured at some point i would get it, and I did, but it only lasted the weekend. Thankfully it didn't take a solid hold on me..

I did manage to help the nephew get a few items apart, that he was having trouble with. It's nice being able to show/teach others how things come apart and what each piece is worth. I also gave him a trunk full of scrap to work. (I have plenty laying around that needs cleaned up and worked..I'm still sitting on 20 some compressor motors and at least 20 electric motors that need worked.. So it's nice to be able to help him make a few bucks.

Anyway, I will be at auction on Tuesday evening like normal.. It's nice being the scrap guy for an auction house. Some days it's all tin, but other days it's old brass lamps and such..

It all pays, and costs me nothing. It saves the auction company money by not having to dispose of it..

beowoulf90 · #**400** 09/23/13, 06:47 AM

Quote:

Originally Posted by edcopp

Everybody thinks that they will make a lot of money, scrapping right now. The problem is everybody is doing it and the demand is low. Thus the prices are low.

It's the economy.

A wise person would learn what they are doing as far as separating and preparing the scrap for processing, and then in my opinion it would be a good idea to store scrap until prices and demand improve.

I have to agree, everyone thinks they will make lots of money..

A lot of these "young bucks" think it's easy money. But they forget about finding it and tearing it down for the best prices.

While I don't follow the pricing per say, I do keep track of major price increases and decreases. I also don't "stock pile" per say either. I just don't haul it until my drums (plastic 55 gal. drums) are full unless I need some "emergency" cash.
Yes the value changes from week to week, but most times I don't pay attention to it.. I haul when I have my barrels full.
Now that is different with steel/tin, I haul when I have enough to fill my truck or when i think I have enough weight, which is usually every other week or so.