Aluminum Auction Buy

Discussions about scrap yards, scrap yard prices, melting, refining, and obtaining metals from scrap or unconventional sources.

Aluminum Auction Buy

Postby wheeler_dealer » Thu Nov 03, 2022 6:32 pm

I was following a Builders "end of summer " auction. I drove to the open house this past Tuesday about a half hour out of my way coming home from work. There were quite a few large lots of aluminum as well as steel, and other scrap. I magnet tested several lots and guesstimated weights.
It was ending tonight so I tuned in. My wife was curious and over my shoulder. I Couldn't help myself and my trigger finger had convulsions. I ended up winning three lots. Net $73.00 with premiums.
If I'm accurate I'm thinking I "won" about 700 pounds of aluminum in the form of trim, new gutters, new elbow,etc.
Aluminum prices yesterday at local yard was .47 per pound.
Last edited by wheeler_dealer on Fri Nov 04, 2022 5:20 pm, edited 2 times in total.
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Re: Aluminum Auction Buy

Postby Tourney64 » Thu Nov 03, 2022 8:08 pm

Sounds like you just want to make a great deal. The wife won’t have any issues spending the profits.
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Re: Aluminum Auction Buy

Postby Recyclersteve » Fri Nov 04, 2022 12:11 am

Show your wife how quickly you can turn a profit, even if you can’t sell it all at one time. You will give her more reason to have confidence in you for the next time.
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).

Please note that ANY stocks I discuss, no matter how compelling, carry risk- sometimes substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) as well.
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Re: Aluminum Auction Buy

Postby Dr. Cadmium » Fri Nov 25, 2022 8:27 am

Great buy! I've had similar luck at auctions. A lot of people just aren't "scrap-fluent" and items like aluminum and wire can sell for far below scrap value.
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