By Becky Berube, United Catalyst Corporation
Assay-based selling with a process, a program, and a partner you can trust (and verify) is the only way to maximize the money you get for your cats with any certainty.
United Catalyst Corporation is a North American-based processor of scrap catalytic converters that offer global refining services – getting you the most from your converters with a process you can trust. We know this industry can be hard to navigate, but we have some expert tips to help you through the process of converter recycling.
Always Follow the Four Ps of Converter Recycling Profitability
You need a process, a program, and a partner you can trust. You also need to learn the power of education.
A Process You Can Trust – You can sell on assay instead of by the piece. You will need to be paid on a sample and assay that are official, accurate, and verifiable.
A Program You Can Trust – Getting you the most money from your converters should not
mean you have to wait three months to get paid or until you have a truckload. With most processors, you have payment choices.
A Partner You Can Trust – Selling on assay or recovery helps eliminate grading scams and two-for-one sales because there is a test result that can be considered the basis for the sale. Working with a partner you can trust cannot be overstated.
The Power of Education
We take a complex process and make it understandable. You will increase your profits once you learn about your converters and your yard profile. No one will ever be able to take advantage of you again.
Focus on the Numbers – We strongly advise our customers to know their count before selling. If you do not have an accurate unit count, you will not know your actual average.
Understand the Importance of Weights – Next to knowing your unit count, weights are the second most important piece of information. Be sure your processor is mass balancing all weights IN and OUT of their facility. If you are missing weight, you are missing money.
Making Sense of the Assay Report and Final Invoice – When you understand what should be on them, you are less likely to fall prey to any unethical practices and leave money on the table.
One Way – Assay – Assay-based selling with a process, a program, and a partner you can trust (and verify) is the only way to maximize the money you get for your cats with any certainty. There is more than one good way to do most things in life. This is not true with converter recycling.
Play the Long Game – Keep selling into the market on assay. Do not take unnecessary risks.
Increase Your Averages – By switching to assay, your average cat sale should be up 5%
to 45%, depending on how your buyer was treating you.
Be Meticulous – Safeguard your converters: locks, video, counts, personnel. Even if it takes a significant amount of time and money, do whatever it takes.
Mark Your Cats – Another way to safeguard against theft is knowing your count and secretly marking your cats. Pick a color each week or month and spray inside the cat.
Put Your Halves Aside – If you are selling by the piece, never let the company put the halves on their truck until you inspect them.
Audit Your Program – Learn all the key metrics to avoid misleading data, like your average converter price, and track valid sales. As you gain data points, you will be amazed at how easy it is to get misled.
Get All the Money for Your Converters – How much money do you want from your converters?
Your answer should be all of it. How do you get all the money from your converters? Process and sell them on assay.
If you have questions about this article or any issue about catalytic converter recycling, our team is here to assist you.
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Becky Berube serves the recycling community as President of United Catalyst Corporation, is a Member of the Automotive Recycling Association’s Educational Programming Committee and is President of the International Precious Metals Institute. Contact Becky at 864-834-2003 or email email@example.com.