Scrap car/buying gold madness

[RBS]

Whats going on with these two things? Why its been such a boom for past year? Scrap cars - non starters, mot failures, any condition - what do they do with them?

Gold - buying gold, gold jewellery, scrap gold - leaflets, shopping centres, huge adverts in newspapers?

Whats your opinion?

 

[vvaannmmaann]

Gold spot now at $1,312 per oz.
No idea about scrap cars though!

 

[RBS]

Gold spot now at $1,312 per oz.
No idea about scrap cars though!

Yes and that makes no sense. Its not 400$. Do they think it will rise to 2000$? You buy when its low, sell when its high.

 

[Estimator]

Apparently gold is soaring in price during the recession as people look for a safer place to invest than property and banks. Are banks considered 100% safe anymore?
The couple of % you get from a deposit account might not seem worth putting your life savings in the hands of these idiots, but also the government is printing billions every month to cover up the black hole, thereby diluting the value of your £ anyway.
So traditional investments like gold and silver are back in fashion, plus there are many cash strapped sellers around.

 

[RBS]

Well, gold sounds wise, but it can easy drop back to 600$ next year and then you made nice -50% profit

 

[akirk]

I think that there has been a backlash against government / banks etc. so gold is seen as neutral... and the fact that Gordon Brown sold it all off so cheaply is a sure indicator of good value

cars - I had heard that this is to do with scrap metal going back into the system partly to feed the China construction boom...

Alasdair

 

[Kernowman]

Last I heard was that scrap steel is worth well over £200 a ton and scrapyards can't get it in fast enough.

 

[RBS]

Last I heard was that scrap steel is worth well over £200 a ton and scrapyards can't get it in fast enough.

That sounds right as they usually don`t pay more than 100£ for scrap car. If usual weight is around 1300kg, deducted seats,plastic etc, comes to 1 ton. Not bad money at all.

 

[luvbusiness]

Anyone remember many years ago and i,m talking 20 years + ago rag and bone man used to come round the streets shouting "any old iron".Well this year in my street we get someone at least once a week looking for old washing machines,cookers etc.

It is to do with price of scrap metal.Couple of years ago you had to pay to have an old car taken away......Now they collect it for free for scrap value

 

[RBS]

Just just mentioned white goods and I realised I see these trucks every day on streets now full with washing machines, cookers etc. Give it few years and steel will cost like gold

 

[TotalWebSolutions]

The problem with the surge in demand for scrap metal is that petty criminals are now targeting anything and everything they can steal to sell on to scrap metal merchants. They have no regard for the upset and hurt they might cause by stealing monuments and the like. Saying that... the merchants who buy it knowing full well it could have been stolen are no better in my book.

Was on a cruise ship for my honeymoon in May and there was a scrap yard owner on board - staying in a luxury suite - who had no manners and flashed his cash wherever and whenever he could. Grrrrrr.....

 

[RBS]

I do agree about criminal activities - they will rise. But the good point is - country gets cleared of rubbish, scrap and old cars/white goods. Helps economy - once you scrapped your car/fridge - you will need new one.

 

Whats going on with these two things? Why its been such a boom for past year? Scrap cars - non starters, mot failures, any condition - what do they do with them?

Gold - buying gold, gold jewellery, scrap gold - leaflets, shopping centres, huge adverts in newspapers?

Whats your opinion?

New car sales dramatically down,

Secondhand prices rise.

Old cars kept longer source of cheap parts breakers.

Earl

 

[JElder]

Other metals have also seen big price increases. Copper (think of the amount of wiring in your car), aluminium, lead (the battery), etc are all worth something.

There's also a market for part worn types, etc.

Generally newer cars will be stripped for saleable components and the shell scrapped. Older cars will get strapped faster.