What would you bid on this?

[doso]

Here's the link to an auction. Huge lot of scrap metal.

http://www.govdeals.com/index.cfm?fa...51&acctid=3043

We'd considered bidding, but it's a little too far from us right now.



But, out of curiosity, if this was local to you, what would you likely bid on it?
Assuming you could only see the pics in the listing.

Trying to wrap our heads around this as one avenue of business.

Thanks for any ideas~

[GeorgeB]

Definitely no more than 6 to $800 worth of scrap. Possibly less since I can't take every item in the pile.

[doso]

Thanks for the info, George. That's exactly what we were trying to guestimate.
So it may have been worth it when the price was pretty low at first, and if
there wouldn't be the cost of driving a couple of hours each way.

Good to know!

[GeorgeB]

Well the more I looked at the pictures, to be honest, might just be $600 worth.

Reason I saw that, is because most of those things are metal shelving, as well as metal closets that are obviously hallow. Neither one hardly weighs a thing unfortunately.

Whoever wins it at the price it is now, will be lucky to clear $200 if that.

[injunjoe]

I think the current bidder is going to be disappointed!

That pile is all big fluffy light gauge steel.

They need almost two tons to break even.

[Mick]

I was thinking it's maxed out now at $410.

[doso]

You guys are great! Thanks for the input.
This will go a long way in helping us learn
to evaluate big piles like that. Really hard
for an untrained eye.

I'm keeping an eye on this just to see what it
closes at. Looks like what the other thread was
talking about--people paying prices that just
don't make sense.

[miked]

Nothing teaches like experience. Having you own money into a deal will get you attention. Best of luck, Mike.

[RustyDollars]

I was thinking it's maxed out now at $410.

I agree, from what I see there's not much meat left on the bone.

If you could see it in person you might spot wire, stainless or aluminum buried in that mess and that would change things.

[doso]

Nothing teaches like experience. Having you own money into a deal will get you attention. Best of luck, Mike.

I agree, experience definitely shortens the learning curve.

[doso]

I agree, from what I see there's not much meat left on the bone.

If you could see it in person you might spot wire, stainless or aluminum buried in that mess and that would change things.

I'm wondering what these folks thought was hiding in that scrap heap...

That auction ended up at $2500+!! No joke!
What in the world??
Can you say "auction fever" or what...

[dmm2442]

That is unreal.

[KzScrapper]

I'm wondering what these folks thought was hiding in that scrap heap...

That auction ended up at $2500+!! No joke!
What in the world??
Can you say "auction fever" or what...

And that is why we are in the $hithole we are in, cuz the "Gov" thinks that's a "Deal".

[mikeinreco]

I make alot of my money off auctions and these idiots are making it hard for me to make a living....LOL

[scrapper321]

He just lost $2500.00 Plus a lot of labor

I'm wondering what these folks thought was hiding in that scrap heap...

That auction ended up at $2500+!! No joke!
What in the world??
Can you say "auction fever" or what...

[mikeinreco]

I always make money and luckily I'm smart enough to know when to drop out...LOL

[wildbillhappy]

P.T. Barnum said it best, There is one born every minute.

[ParkerFlyer4]

THERE WAS A WIRE ON THE GROUND!!!! ****, should have bid.......