Silver has hit the streets now it seems so every dog is ripping at the steak trying to get some on the FOMO.
I have tried to buy some silver on the online auctions for 3 weeks -out bid every time to the point where it's not even a profit.
Folks are washing the money in buying currency as they pay with prepaid VISA cards on their accounts, and then pick up the item ( gold coins)
So yesterday the sterling went way too high but I managed a few lots of gold.
The reason for this calculation is there's a 10K watch and signet ring and there's a low and a high estimate for the net result.
I'll scrap out the 10K watch and ring regardless. (Will update Sunday)
Everything else comes with an actual appraisal weight and what the karat is. (The value part makes me
)
I had a another lot of scrap brass included in my calculation so I corrected it by $44.
Still it provides a nice % return on the $$$
I get maybe 20% of my bids if I'm lucky. If I shorten the % rate down to 10-15% then the amount of bids won increases also.
Step 3: Recalculate profit percentage
Divide the new profit figures by the new cost ($2,114.77) and multiply by 100:
- Low Estimate %:
(852.492114.77)×100≈40.31%
- High Estimate %:
(1404.232114.77)×100≈66.40%
Answer:
With the purchase price reduced by $44 to
$2,114.77, your estimated profit percentage increases to between
40.31% and 66.40%. This results in a total net profit of approximately
$852.49 to $1,404.23 CAD.
