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Gold down to $1200.00 today. I swear that someone found out we were making a few bucks with E-waste and said " What? There's people providing for their families by recycling electronics? Well, we can't have that! Time to make the gold price drop so we can have all the money." Bunch of A**bags.
Did you expect it to be high forever like the $5000 and up crowd? People will still recycle e-waste and make money from it, especially after the part timers give up for the next big thing. I hope few people here purchased gold in at the peak.
Glad I'm a old fashioned (low tech) scrapper right about now.
I will continue to deal in electronics I will just try to focus more on re-sell than just scrap..........The stuff that is to old or does not work will still be scrapped the returns will just not be as high.........Luckily during this E-scrap boom I was able to bank a nice little nest egg for myself and my family
As long as you're dropping your buy prices to reflect the market, you can still make the same amount per dollar spent. Did go to an auction last weekend and a competitor is still paying 4.00 a tower for partially stripped units. (missing harddrives, RAM and most of the power supplies).
wow Joe, he's gonna be losing money
Bear, he bought 5 pallets! Knowing their operation, it isn't going to be good for them.
I am just fine with people losing their a$$'s on those kind of dumb moves. They can get beat up bad and move on, then I can get the next pallet for $1/piece.
Trick right now is maximizing return on items that have greater than scrap value, and either being ok with lowered prices, or stockpiling boards for a rebound.
Think of it this way...does your dollar seem to have any more buying power this month then it did last month? If the answer is no....then expect a rebound in precious metal prices.
I didn't expect gold to stay high(I hoped it would) but I understand the ebb and flow of metal values. It just burns me when I see prices drop so much so fast. I think I need to get rid of the gold price widget on my phone, I just can't stop looking at it.
My opinion is that the people who made good money while Gold was $1600+ should consider themselves very blessed. Only because of global panic and manipulation did it rise so high so quickly in the first place.
Good thing I got other things in the fire besides ewaste! Though it makes up most of business I still have tvs, metal, etc. As others have said it'll take my competition down a peg. Which is just ducky in my book. Yes ducky! Like peachy but cooler.
I dig the PM market ebbs an flows like the tide, but does it always have to go down when I'm bout to ship?!! Guess I'll be holding out a bit longer. lol.
Sirscrapalot - Found a silver lining in a cloud, for sale on ebay 1.00lb!
Looks like a nice rally today. We'll see what next week brings.