If you're looking for an effective way to earn cash quick, you might consider selling scrap metal. There are plenty of scrap yards that will take various metal pieces. To come out on the winning side of this transaction, remember these tips.
Know What You Have
Before you start handing over your metal pieces to one of these scrap yards, you first need to know what you have. Otherwise, you may not get a good amount of money for your inventory because you don't really know the value of your pieces.
Start looking online to get some quotes for the metals you have. How much you get often depends on the quantity and condition of your metals. After gathering several quotes, you'll have a better idea of what baseline price to look for when selling to a scrap yard. You can even show the yard these quotes to strengthen your negotiating power.
Separate Your Pieces
If you have a lot of different metals on one object or appliance, you'll want to separate them before taking them to a scrap yard. After all, you can sell these pieces individually and get more money for your materials.
For example, if you're selling a washer, you should make an effort to separate metals based on type. Aluminum can go in one pile and steel can go in another. Having your metals organized not only helps you get more money, but it makes it easier to keep track of your inventory.
Develop a Relationship with the Scrap Yard's Owner
If you plan on selling scrap metal again in the foreseeable future, then it's a good idea to build a relationship with the owner of the scrap yard. You'll then have an easier time selling your materials and may even get better rates.
So how do you establish this relationship? You can start off by signing a long-term contract with them, where you only take your scrap metals to their yard. They may offer you better rates in exchange for your continued business. After several transactions with a particular scrap yard, they may even offer incentives for bulk orders.
Worn, old metals may not seem that valuable as you pass them but, but they actually do hold some inherent value if you sell them to scrap yards. Completing these transactions doesn't have to be rocket science either. Researching your metal inventory and taking a calculated approach to this sale can help you maximize your profits.