Selling scrap metal is a great way to earn some extra cash, and scrap yards are always looking for a variety of metals to buy. That said, if you want to ensure that you'll be getting top dollar for your metal, there are several things to consider before selling. Take a look below at five questions you should ask yourself before heading to the local scrap metal yard.
Is There a Substantial Quantity?
The first thing you'll want to do is separate your different metals and determine the quantity of each. Buyers will often pay significantly more per pound for metal in bulk than they will for just a handful, so it pays (quite literally) to save up as much metal as possible before taking it to the scrap yard.
Is It The Right Time of Year?
Like any other market, the scrap metal market fluctuates. Because most major construction projects are completed during the summer months, prices are somewhat lower. Conversely, prices for scrap metal are higher in the winter when weather prohibits building and salvaging. Know when buyers are willing to pay more, and hold on to your metal until then.
Is There Adequate Storage?
If you salvage scrap metal full time, you can cut down on transportation costs by storing your metal in a central location. Storage facilities can be rented cheaply for several months or years at a time. Not having to keep your metal on you means fewer trips to the scrap yard, which in turn results in gas savings and higher profits.
Is It Worth Scrapping?
Although major in-home appliances can be scrapped for cash, many times it's worth inquiring first about whether the item can repaired and sold for a profit. A substantial number of professional scrappers both sell and repair appliances to maximize profit, especially during times when scrap sales happen to be slower than average.
Is The Price Offered The Best Available?
Not all scrap yards are created equal, or at least their prices aren't. Shop around by calling all scrap metal yards within a specified distance to figure out which is offering the best prices for the metal you're looking to sell. If one yard offers a significantly higher price than another, use this to your advantage by informing the latter scrap yard of the former's offer. Learning how to negotiate and leverage different offers is often the difference between a profit and a deficit.
To learn more about scrap metal recycling, visit a local scrap yard.