I started scrapping 4 years ago and it was a good time to start. The prices for scrap were high, light iron $165GT topping out at $180GT. #1 prepared $245GT topping out at $265GT. These prices were high so I kept on scrapping. I didn't test anything and just scrapped everything. Last August I went to the hospital and ended up having heart surgery. I was in the hospital for 2 months and laid up for another 5. I got back to scrapping this past March and got paid $85GT light iron. Wait what? What happened in those 6-7 months? Prices were cut in half. Of course I'm gonna keep scrapping, I mean I'm getting paid to recycle and I would recycle anyway.
So this price drop is a curse and a blessing in disguise. Now I test everything I get. Especially appliances. So if I scrapped a refrigerator for $7 total, now if it tests good I can get $70. That's 10x the amount compared to scrapping it. Of course you don't have a buyer immediately (scrap yard) but if you price it low enough it will get sold in a day or two. Around here anyway. So, with the scrap prices so low now, I'm actually making more money by testing and selling working items. If scrap prices were still high I probably would not be testing anything and still turn and burn. See the blessing in disguise?
The refrigerator is just an example, it all depends on age, condition, ect.
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