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So I'm at this school auction today and there are these"bigshots" with a crew of guys buying everything for a ridiculious price 10$ for file cabinents and like 60$ for room full of desks like 60$. Then I got thinking he probably gets dealer price-a raised rate at the scrap yard. but still after time and labor his profits would pretty low-what do you think?:mad:
Yes, they are getting better then street price and sometimes it can be substantial. They may also have the space to store them till the market comes up...buy low sell high.
Not everyone at an auction is buying stuff to scrap. There is a huge amount of profit left over on a room full of desks at $60, if you don't scrap them that is.
auctions- you win some you lose some
I would say that "bigshot" was turning stuff, you know, reselling.
i buy stuff like that all the time there is more profit there than you think
Be the bidder,be the buyer
You did the right thing though. If you do not have the resources yet to turn the profit. Don't bid.
First rule - If you have any left at the end of the day. You bought too much.
Second rule - If you are out of stock at the end of the day. You did not buy enough.