The invention describes a process and an appliance for separating non-magnetic materials and objects with the use of magnetic fluids. With this invention a restoration of the magnetic fluid adhering to the separated material is made possible, by removing the magnetic liquid still adhering to the separated product both through magnets as well as through water. The magnetic fluid in the separating chambers is constantly monitored as regards volume and concentration via a monitoring installation. An appropriate area of use for the invention is the separation of fragmented materials, the separation of capacitors in capacitators containing polychlorinated biphenylenes (PCB) and PCB-free capacitors. The invention described, moreover, the composition, manufacture and use of environment-friendly diluted magneto-fluids, which can be especially suitable in employment in the separation of non-magnetic materials using the sink-float process in the magnetic field gradient.