The reality of scrapping- the Intelligence quotient!

Ok.. so I learned a very valuable lesson yesterday and I wanted to share.
In my work I have a contract with a guy who owns a huge duplex community. He knows I scrap- he has allowed me to take everything he deems "non-essential" and allows me to scrap it. Heck he even brought me in some old aluminum step plates and a huge electric motor one day from home a few weeks back. Well since he has a multitude of guys who work there he also has 2 company pickup trucks for them to move about the complex and get materials. They aren't new- they are used, but not used up.. they serve an intended purpose.. and that's that.

Last week one of the trucks had a major electrical meltdown and fried a good portion of the wiring harness. I knew about it- but didn't go running to him about it (sort of reminds me if someone pulled up to an accident scene and said "Hey maaan I'll give ya $200 buckaroos for that car" It would just add insult to injury.

Yesterday he asked me if I knew anyone who may have a pickup for sale.. I asked his budget on it and some other questions to see if I can keep my eyes open for him. Once we finished with the formalities I said "May I ask what your plans are for the blue bomber? (The truck that caught fire)" He said "Yeah.. sorry I already sold it off to someone to scrap it and use the funds to put towards the new one"

At first I was a little miffed, I thought "Dang.. He knows I haul cars- I used my trailer not 2 weeks ago to fetch materials with for the project I am working on and parked it up at the office!!" Then it dawned on me a little later. If he calls a junkyard.. they are going to pay him twice as much as I will! I was starkly reminded, right then and there, that the intelligence quotient is very relevant in what most of us do. I had a discussion about this a bit in another thread. See this guy is a savvy business man, he is intelligent, and honestly- too smart to get only say- $250 bucks out of the thing (Which is what I would have offered him for it)

So a little life lesson for me.. and something I need to keep in mind when I'm out there trying to work deals! Just wanted to share with you folks!

Good lesson. I got the same reminder this week, too. Every month, I eat breakfast with a friend. Tuesday, he was anxious to show me his "new" truck. Then he told me he'd sold his old one to a scrap yard that picked it up. I was a little miffed till he told me he'd gotten $50 more than I would have paid for it.

It comes down to a matter of value over time spent. Many people do not have the time to take in 10 pounds of aluminum. We however are more than happy to throw it in a bin and take it in when we have 50 pounds.

The ante goes up when there is a few hundred dollars involved and a few minutes on the phone can net someone an extra $50 or even hundreds more.

You are right! The intelligence quotient! Those who know, will spend that few minutes. There are still plenty that have no clue though.

Great post.
Time to sell a truck and make more than $250 then we will see who is the smart savvy guy
that could be you if the price is right - Bob Barker

The "Pull and Pay" junk yards around here will pay $400 for many cars including pick up so you just have to hope people don't know about them. I have matched that $400 and still made money but the car has to have aluminum rims and some other sell-able parts to make it worth while.

Originally Posted by KzScrapper

The "Pull and Pay" junk yards around here will pay $400 for many cars including pick up so you just have to hope people don't know about them. I have matched that $400 and still made money but the car has to have aluminum rims and some other sell-able parts to make it worth while.

For sure. I've made money on 500 buys but sometimes it takes a while to get your money back. Some people seem to want me to pay 150% of scrap price on cars because the car has "good parts" pars arent worth a dime until they sell and some parts never do ! About this time I remind them I'm a professional buyer and NOT a charity ! Besides all that pulling and marketing parts is a major pita and sorry dude but I doubt anyone needs parts for a 85 Volvo too bad, especially since i hasn't seen one on the road since the early 90's.

Originally Posted by taterjuice

For sure. I've made money on 500 buys but sometimes it takes a while to get your money back. Some people seem to want me to pay 150% of scrap price on cars because the car has "good parts" pars arent worth a dime until they sell and some parts never do ! About this time I remind them I'm a professional buyer and NOT a charity ! Besides all that pulling and marketing parts is a major pita and sorry dude but I doubt anyone needs parts for a 85 Volvo too bad, especially since i hasn't seen one on the road since the early 90's.

That's when I tell people they should sell the parts themselves.

Yep.. this one was a mid-90's Chevy 2500 standard cab.. I think it had around 240K miles on it, steel rims, and the truck bed was covered in driveway sealant. It wasn't "purty" when they bought her.. but she was a mess when they sold her off. Really not much to salvage on her. Paint peeling or covered in sealant, seats ripped to shreds, Leaked and burned oil like a mutha.. she had a good life.. and her time had just come to "move along"

I've consoled myself with this "aha moment" I'm not the least bit upset.. I'm actually hoping it never comes up again because I would never want to tell him what I would have offered him for it- I think this may give away that idea that we have discussed. I surely don't want to insult the man who has been REALLY good to me and signs off on my invoices.

Originally Posted by Mick

That's when I tell people they should sell the parts themselves.

Exactly, if you top dollar, put in the work yourself and don't waste anyone's time, especially mine, posting a stupid ad.