Bet you’ve heard this before, “One man’s junk is another man’s treasure.” If you’re a scrapper, you know that phrase couldn’t be more true with the things you have found. We have talked to people that have bought picnic tables and resold them, good coils of copper, and so many other items from cars to trailers. The question that we get asked is how to make money and what to look for when scrapping.
Rules & Ways of Reselling Scrap
Sometimes it seems like the Wild Wild West and there’s no set of rules other than making money. Often times you have to make an effort to get out there. We have heard about people going on Craigslist and other web services like Facebook Marketplace to list items for sale, and these are very good avenues for resale.
Some people have steady outlets to resell certain items like circuit breakers, which are a much easier sell because they are an industrial item that can be used with many businesses. Other items that are common are not good resale items, one example would be outlets that you may cut off from your Steel BX or Romex® wiring. These items may just be easier to recycle for scrap value.
Take It…Never Leave It
We have heard many stories about people who have tried to resell items and think they can get more money than what someone already offered them. This usually results in the person holding onto the item for longer. Scrappers that resell material and take a deal when it’s offered to them are usually happier that they can turn the profit around quickly.
More often than not, some find themselves holding onto that piece of equipment, tool, or whatever resale item longer and wish they took that offer.
Should You Put In Work or Just Try To Sell?
A lot of people sell used things, have a little wear and tear, and have certainly seen better days but a lot of those items are still useable. The problem is whether or not you have to make things perfect or if you sell them as-is. Trying to put your own warranty on an item can only cause you headaches down the road, but not having a little reliability is risky as well.
You have to know what you are doing when both buying and selling items and knowing what you are doing, what you are selling, and potential problems that pop up with that takes some thinking. Scrappers have told us in the past about buying tools from auctions or resellers and having problems…and the same goes for reselling. Good deals are not always good deals if you cannot make money with the tool or the item that you are looking to sell or use.