Thieves hitting used car dealers for scrap metal

The latest talk over the weekend was about the ever-rising demand for scrap metals. Jeff and I sat next to a gentleman at the auction Saturday night who told us about a problem affecting area used car dealers — a rash of thefts of catalytic converters.

Apparently, thieves are crawling under vehicles and using cordless Sawzalls to quickly dislodge catalytic converters from underneath cars.

Paging through a small-town newspaper yesterday, I immediately realized why these old auto parts are in such great demand. A half-page ad on page 47 in The Shopper’s Guide for Winco Scrap Metal in Moosup is offering prices from $30 to $200 each for old catalytic converters. They even offer pick up service!



For those unfamiliar with the world of auto parts, a catalytic converter is one of several elements of the exhaust system that reduces the emission of harmful pollutants. They are most commonly found "under the floor" of the car.

What’s in it that's so valuable? Platinum.

A Web site promoting a How-to eBook for scrap-metal enthusiasts touts:

"Highest Gold, Silver, & Platinum Prices Since 1979!!!"

"Scrap catalytic converters contain some of the most expensive metals on earth - metals that never wear out, even if the converter stops working and must be junked! Nearly every vehicle sold in the US and Canada since 1975 is literally a "platinum mine" on wheels which can eventually be recycled. Thousands of converters are replaced daily (Ford once announced the recall of 680,000 converters - all of which became available as scrap!) and tens of thousands of cars are going to junk yards with their precious, platinum-loaded converters intact. The profit potential is mind-boggling, since the EPA prohibits the resale of these catalytic converters, with fines of up to $1,500 per violation!"

Out of curiosity, I checked eBay completed auctions...

SCRAP-CATALYTIC-CONVERTER-PRECIOUS-METALS-RECYCLING

And a current auction:
(Photo above. Currently bid up to at $351.62)

Up for auction at No Reserve is a Dual Catalytic Converter pulled from a '95 BMW 525i. These cats are being sold for scrap metal recycling only and not for reuse. The cats weigh around 17 lbs for both and are 16 inches in length ea.

SCRAP-METAL-CATALYTIC-CONVERTER-FOR-PLATINUM-RECYCLING

Here’s a related news story, from San Diego.
http://www.nctimes.com/articles/2008/02/01/news/sandiego/21_42_271_31_08.txt


Hmmm... before you junk your old car, you may want to remove something.


For more information:

Winco Scrap Metal
25 Ward Ave, Moosup, CT
Phone: (860) 230-0552