Written by the TreasureGuide for the exclusive use of treasurebeachesreport.blogspot.com.
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| Sunken WW II Planes. Source: LifeDaily.com (See link below) |
Observers sometimes assume that metal detecting is all about making money, but for most of us there are other reasons we metal detect. We enjoy the activity, the exercise, the challenge and the history we encounter, but if you want your metal detecting to be profitable, there are some things you need to know.
When I talk about profitable metal detecting, I am talking about motivation and math. I am excluding all motives and benefits other than the profit motives. My criteria will then be purely mathematical. It takes a degree of focus and a level of commitment that turns metal detecting into a job or business. You might not want to do that, but you will still benefit from the discussion even if I only provide a few of the important but under- appreciated facts.
Here they are.
A. If you want to maximize profit, the cost side of the equation is just as important as the finds. Expenses must be paid for by finds. Travel expenses, such as gas, parking, admission fees, etc. must be taken into account. So must the cost of equipment and other costs.
B. The most expensive metal detector is not always the best and must pay for itself. The cost of such things as batteries and maintenance must also be factored in.
C. If the profit motive is primary, you will have to give up some of the other pleasures, such as only detecting in pleasant weather or on nice beaches. You'll have to push yourself to do things that are not easy or fun. In fact, your most profitable detecting might put you in difficult situations and push you to work harder than you would like. There was a time, and I've said this before, that my motto was, "If you don't want to do it, do it." By that I meant working some of the most difficult beaches and conditions. I wasn't talking about ethics.
D. A location might produce a lot of low value targets and another location might produce just a few targets, but of a much higher average value. Of course the ideal location produces a lot of high value targets. You will not know exactly what you will find, but over time you can get a good estimate of the likely number of targets and their average value at different locations. Over time you will base your estimates on your past experiences at each location but will also factor in other reasonable expectations.
E. So which would you choose, a location that produces a lot of small value targets or a location that produces few targets, but targets of a higher average value? It all comes down to the math. You should do some calculations. Take the average expected target value and multiply times the expected number of targets and chart it out.
If you detect a the same location a few times, you will have good data to form your expectations. Your expectations will become more precise as you gain experience at a location and analyze the data you have accumulated. Don't forget - the highest value finds will be rare but will dramatically affect your results. I won't do the math or graph that out now.
F. Here is an important one. If you are concerned with profit, you must do a good job of converting finds into cash. The sales side is just as important as making finds. You can make a find worth $1,000 but end up selling it for much less. If you are good at marketing and sales, you can easily double your profit that way. You must recognize the value of different types of finds and sell them well.
Common mistakes include selling good jewelry to a pawn shop or for scrap or not recognizing the value of antiques or collectibles such as coins. Learning the value of various types of finds and how to sell them well is an important skill if you want to maximize profit. It is not just about finds.
If you stink at marketing or don't want to do it, you might have to just accept that fact, but then you'll have to find more to make the same profit.
Most people do not detect primarily for the profit. That is fine, but you should be clear about your motivations and the trade-offs. You will not maximize profits unless you go all out to do so. There are many good reasons for not doing that, but it helps to be clear about your motives and what you want to accomplish rather than having mixed feelings and ending up being frustrated.
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For all of you good looking bachelors of the Treasure Coast, it looks like MacKenzie Bezos, worth a few billion dollars, is going to be available.
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A few years back, Brandi was scuba diving about five miles offshore of the island of Roi-Namur in the Marshall Islands, when she discovered something incredible lying beneath the waves. Something that had been lying in wait for over 70 years…
The ocean floor was festooned with rusted, broken airplanes. It was a veritable “Airplane Graveyard.” But where did they all come from? Had the planes been shot down during World War 2? Were they the remains of a once-mighty fleet, rendered into scrap after a brutal sea battle? The answer to those questions was as surprising as the discovery itself…
Here is the link for the lengthy article.
http://www.lifedaily.com/story/diver-uncovers-70-year-old-underwater-secret-in-the-pacific/
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The surf will reach three to five feet later today and be smaller this weekend.
Happy hunting,
TreasureGuide@comcast.net