by Dr. Cadmium » Thu Sep 10, 2015 10:56 pm
Since you only have $1 invested, you can afford to sit on it for a while!
I would:
1) Look up the part number in a search engine and find out what it's for. Find out what comparable parts are going for online (if there are any).
2) Check eBay for completed listings to see if any have sold.
If the part is worth selling on eBay, sell it there at fixed price. If it's not valuable enough to be worth the labor and/or shipping, you can sell it locally on craigslist, at a flea market or your own garage sale. Flywheels and large gears have value to artists for steampunk furniture and other creations.
If you can't find comparable parts anywhere, either auction it on eBay or list it for a high price with "Best Offer".
If all of the above fails, you can scrap it for about what you paid for it, assuming it's steel. If it's aluminum, you'll make money even by that method.