I just dont get it!!!

**sjones99** · 05-20-2013, 07:27 AM

Dont understand why you would want to lose money just to win auction..lol
Coated Copper Wire - GovDeals.com

**Mick** · 05-20-2013, 08:13 AM

It's done on speculation. Also, the buyer is likely a scrap yard owner or exporter and can pay higher than you or I and still show a profit. I ran into that the other day at an auction where were several lots of copper wire I planned on bidding. A local yard owner was there and stated that nobody but him would be getting any wire. He actually owned several yards and was multi-millionaire. For instance, one lot I figured I could bid $300, strip it and still have some profit. I bid it to $250 and he countered with $500. He's not stupid - I figure he knows something I don't.

**sjones99** · 05-20-2013, 08:28 AM

To me thats just crazy...after stripping it you have 827 lbs...and at 3.25 lb....it figures out to $2688...Profit wont even pay the taxes on it..lol

**Alacycle2** · 05-20-2013, 08:41 AM

I work at a yard and I've seen the owner literally make only 3-5 cents a lb on things just depends on volume and alot also have machines that process it trust me how he ever makes money on 3 cents ill never know

**MattInTheHat** · 05-20-2013, 08:51 AM

It could also be someone planning on using some of it.

**Alacycle2** · 05-20-2013, 08:55 AM

That is also true I buy alot of wiring that comes through that is still usable I see it kind of like investing when I build my shop ill have wire or if the market shoots up ill sell it all lol

**ryanw** · 05-20-2013, 12:50 PM

Someone could also be buying material to make what they have more valuable. If you have, say 1000lbs of #1 copper, your negotiating power is less than with 2,000 lbs.