If you are looking around you and trying to figure out what you can sell to get the money you need, you may be looking at some gold jewelry in your drawer, or perhaps that broken-down beater in your driveway. However, selling either of these is a hit or miss situation. The market for the resale of junk cars fluctuates as much as the market for gold. Here is how you can profit in the metal market when prices fluctuate and how to wait for the right moment.
At the End of a Recession
At the end of a recession, you will find that the price-per-pound for scrap metal and junk cars is at an all-time low. The reason for this is that everyone who was out of work and desperate cashed in to make some money, and now the junk and salvage yards are full and will only buy at rock-bottom rates. A similar problem occurs with the gold market. Nobody has any gold left to sell, and the buyers have too much to recycle and refine. Buying prices dip low.
Two to Five Years after Recovery
If you wait about two to five years after the official end of a recession, prices for scrap metal, gold, and junk cars begin to climb. You may have to check in once a week with local salvage yards to find out just when prices are climbing again. It is not a precise science, but it beats missing that one week in fifty-two where prices jump up fifty to two hundred dollars for your junk car.
The Country Is in Full-Blown War
Any time the U.S. is engaged in all-out war, especially with another recognized "super power nation," you will find that junk car values skyrocket. This is because the military is once again in demand for more planes, tanks, subs, etc., and they need the metal to make these machines of war. However, hold onto your junk car(s) until about six months after the official Presidential declaration of war. This is when most of the metal reserves have been used, and manufacturers are scrambling to find more. Call all of the salvage yards to find the best price, and let them know what their competition is offering. Whoever offers the most in order to secure your junk car, that is who you should sell to.
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