If you’re looking for a fun hobby that can also make you some extra cash, you may be wondering if magnet fishing can help you line your pockets.
The short answer is YES, you can make money magnet fishing. However, it’s not going to be a huge windfall and it will take some time and effort to get started. If you are lucky you may find expensive things which can make you lots of money.
Here’s what you need to know about making money with this interesting activity.
How Much Money Can You Make Magnet Fishing?
Many people wonder if it is possible to make money from magnet fishing.
Unfortunately, there is no easy answer to this question as it depends on several factors, including where you are magnet fishing and what you find.
That said, some people have been able to make a decent amount of money from the activity.
For example, one individual in the UK was able to make over £1,000 (about $1,300) in just six months of magnet fishing.
This person was able to find valuable items such as bicycles, jewelry, and even a safe that contained over £200 in cash.
You can get an Idea from this example, how much money can you make magnet fishing?
How To Make Money From Magnet Fishing?
There are several ways to make money from magnet fishing, which we’ll discuss in the following sections.
Here are a few top ways.
1. Scrap Metal
When you’re out magnet fishing, you’re bound to come across some scrap metal. But can you make money off of scrap metal?
The answer is yes! Scrap metal is an excellent commodity that can bring a profit. But how do you determine what scrap metal is worth?
Here are a few tips:
- Visit the local scrap yard for their current prices. Prices fluctuate based on the market, so it’s important to stay up-to-date.
- Separate ferrous metals from non-ferrous metals. Ferrous metals contain iron and are attracted to magnets, while non-ferrous metals don’t contain iron and aren’t attracted to magnets. Scrap yards typically pay more for non-ferrous metals like copper and aluminum.
What is scrap metal Price?
The Prices of scrap metal can vary greatly, depending on the type of metal and where you live.
In general, however, most scrap metal is worth around $0.25-$0.60 per pound. This means that a typical magnet fishing haul of 100 pounds could be worth anywhere from $25 to $60.
If you find a particularly valuable piece of scrap metal, such as copper or aluminum, you could potentially earn much more than $0.60 per pound.
In fact, some types of scrap metal can be worth upwards of $2.00 per pound!
So, if you’re looking to make some extra cash by magnet fishing, keep your eyes peeled for valuable metals like copper and aluminum.
Copper and Aluminum are not magnetic, How can I catch them while magnet fishing?
Copper and Aluminum are not magnetic, but that doesn’t mean you can’t catch them while magnet fishing.
If you find an object which is made of magnetic and non-magnetic materials such as Aluminum and Copper,
you will get aluminum and copper along with the Magnetic materials indirectly because your magnet will stick to the magnetic object.
If you use a hook along with your magnet, the chances of catching a non-magnetic object increase significantly.
2. Sell Valuable Finds
If you’re already doing Magnet Fishing, chances are you’ve come across a few interesting finds. While some of these items may be worthless trinkets, others could be valuable antiques or collectibles.
So how can you tell if you’ve found something worth selling?
To start, do a little research on the item. If it’s an old coin, for example, find out what country it’s from and its approximate value.
You can use online resources like eBay or Antique Trader to get an idea of what similar items are selling for.
Once you have a general idea of the item’s worth, try contacting a local collector or antique dealer to get a professional opinion, If you get a reasonable price sell it to them.
What valuable things can you find while magnet fishing?
The most common valuable items are these
- Rare Coins
- Jewelry
- Antique pieces
- Boxes (which may contain worthy things)
- Rings
While you may not find anything valuable every time you go out magnet fishing, it’s always exciting to see what you’ll discover. Who knows, maybe you’ll even find something that’s worth a lot of money!
3. Sell Magnet Fishing Products
There are a few different ways that you can sell magnet fishing products. One option is to set up a booth at local events or fairs where people can try out the magnets and purchase them if they like.
You can also sell them online through sites like Amazon, Etsy, and eBay. Or, if you’re feeling ambitious, you could even start your own website dedicated to selling magnet fishing products.
Whichever method you choose, be sure to market your products well and offer good customer service.
4. Give Services
If you’ve ever lost your keys or ring in a lake or pond, you know the sinking feeling that comes with it. But what if there was a way to retrieve them?
In Public places, people lose things in water bodies. Services like treasure hunting, fishing, and diving are in demand. You can dedicate your time to finding lost items or giving services to people who have lost their belongings in water bodies.
How Much Should I Charge?
There are a few things to consider when setting your price, including the cost of your equipment and the time it will take to find the item.
Generally speaking, you should charge around $20-$30 per hour of search time. This rate can vary depending on the difficulty of the search and the value of the item you’re looking for.
If you’re searching for something valuable, like a piece of jewelry, you may want to charge more.
You should also factor in the cost of your equipment. If you’re using an expensive magnet or have to rent a boat, your costs will be higher and you’ll need to adjust your prices accordingly.
5. Start Vlogging
You can start a magnet fishing vlogs Channel and document your adventures while you search for lost objects in bodies of water. This can be a fun and exciting way to make money.
Upload Your vlogs to YouTube, Facebook, and other monetizable platforms and you can make money off of your videos.
Lots of Magnet Fishers are doing so and they have a huge viewership, Huge viewership means huge potential in the niche.
If you create a YouTube channel or Facebook Page or even both and Upload good videos, you can start earning money.
If you’re able to get a large enough audience for your magnet fishing vlogs, you could make a living off of it.
Conclusion
If you’re looking for a fun and unique way to make some extra cash, magnet fishing might be for you. But how much money can you really make?
It turns out that you can make quite a bit of money magnet fishing if you know what you’re doing. In fact, many people have made a full-time income from this hobby.
So if you’re looking for a way to make some extra money, and have a lot of fun doing it, magnet fishing is definitely worth considering.
Can you make a living from magnet fishing?
You can make living from Magnet fishing, By having a successful Magnet Fishing Blog, Magnet Fishing vlog (YouTube, Facebook, or any other Monetizable platform), Magnet Fishing Online (Amazon, eBay, etc), or Physical store.
But it is difficult to make living from magnet fishing finds, because you are not always lucky to find any good finds all the time, and you can’t sell everything, because some things are illegal to sell.
Also, Read This: