Why do scrap yards pay so much for catalytic converters?

The reason there is a price difference is because of the precious metals inside. There are many precious metals that clean the air that passes through the catalytic converter and those metals is what makes it worth money.

Why are catalytic converter scrap prices so high?

Catalytic converters have economic value as they contain precious metals. This is the main reason why they are sold as the most expensive scrap. Because it contains rhodium, palladium and platinum, which are among the most precious metals.

Which catalytic converters bring the highest scrap price?

Which Catalytic Converters Are The Most Expensive? According to data from 2020, the most expensive catalytic converter belonged to the Ferrari F430, with a mind-popping $3,770.00 price tag. Moreover, the F430 needed two of them, so a full replacement would run car owners $7,540 before labor costs.

Why do scrap yards want catalytic converters?

Catalytic Converters and Scrap Metal

Auto catalytic converters are a great item for metal recycling. One of the reasons that they are so popular is because they are fairly easy to remove and handle, and they can offer a great return at a scrap metal yard. The key is knowing how to scrap them and handle them properly.

Which cars are most likely to have catalytic converter stolen?

Carfax data shows that the Ford F-Series trucks that sit atop the national list for converter theft (their high ground clearance makes them especially easy to purloin in this regard) are the most targeted models in all parts of the country except western U.S. states.

How Much Is A Catalytic Converter Worth? Scrap Recycling Guide

How much do thieves get for catalytic converters?

Thieves, on average, can earn $200 per catalytic converter — about 1/10th of what it costs to replace a stolen one.

Why are Honda catalytic converters stolen?

Why do thieves target Honda cars? Honda cars are a target because they have hybrid systems. The catalytic converters of Honda cars will fetch more price when resold. Thieves who remove them with jacks and angle grinders find them relatively easy to steal.

Why are Prius catalytic converters stolen?

Currently, Prius is being targeted because catalytic converters of hybrids need more of the precious metals to work properly because they don't get as hot as those installed on conventional vehicles, since the combustion engines of hybrids only run part of the time.

How much is a Dodge 2500 catalytic converter worth?

The average cost for a Dodge Ram 2500 catalytic converter replacement is between $2,103 and $2,129. Labor costs are estimated between $101 and $128 while parts are priced at $2,001.

How much gold is in a catalytic converter?

Catalytic converters contain Platinum, Rhodium and Palladium. However, there is no gold in catalytic converters.

How much is the platinum in a catalytic converter worth?

On average a catalytic converter generally contains 0.1 to 0.3 ounces (3 to 7 grams) of platinum. According to Kitco the bid price of platinum is $977 USD per ounce (April 9 2022) meaning there are between $110 and $300 dollars worth of platinum in a typical OEM catalytic converter.

Why are Prius catalytic converters worth so much?

Why the Prius above other cars? Hybrids require catalytic converters with a higher concentration of precious metals than those found on gasoline-only cars. The HLDI notes that the converter from a 2007 Prius is selling for about $1,022 today, compared to just $143 for the converter used a Ford F-150 from the same year.

Which catalytic converters are being stolen?

Those vehicles most often targeted for catalytic converter theft during the past three years in California are the Toyota Prius, Honda Element, Honda Accord, Ford Econoline, Honda CRV, Ford F-250, Toyota Tundra, Toyota Sequoia, Ford Excursion and the Toyota Tacoma.

How much do catalytic converters sell for on the black market?

According to The Pew Charitable Trusts, a global non-profit organization with a focus in public policy, criminals typically sell stolen catalytic converters for $50-$500 to internet buyers or scrapyards.

How much is a Toyota catalytic converter worth?

Toyota catalytic converters' worth can range from $75 and $700 when sold as scrap. The worth of a catalytic converter can vary depending on the car's make and model. Some of the most valuable catalytic converters come from the Toyota Prius.

How much is a Prius catalytic converter worth?

Current used. The average current price for used toyota prius catalytic converter is $410 from the last 127 listings.

Does insurance cover a stolen catalytic converter?

Is a stolen catalytic converter covered by insurance? If you have comprehensive coverage on your auto insurance policy, then you're typically covered against catalytic converter theft. Comprehensive coverage will typically pay to replace the stolen catalytic converter and repair any related damage from its removal.

Do Thieves Steal aftermarket catalytic converters?

If your Catalytic Converter has been replaced with an aftermarket Catalytic Converter within the past few years, there is a good chance it won't be stolen. The new aftermarket Catalytic Converters don't have as much of the precious metals, so thieves typically don't take them.

How much is a Honda CRV catalytic converter?

The average cost for a Honda CR-V catalytic converter replacement is between $2,059 and $2,092. Labor costs are estimated between $122 and $154 while parts are priced at $1,938.

Why are crooks stealing catalytic converters?

According to multiple sources, money is the main motivation for people stealing catalytic converters. According to NJ.com, they have precious metals like platinum and rhodium in them that have value on the black market. Cars.com also mention that the devices have palladium.

Which state has the most catalytic converters stolen?

New data shows California is ranked number one in catalytic converter thefts. New numbers on the high cost of stolen catalytic converters. A report released by State Farm Insurance shows that residents in our state have been hit harder than any other state, making California number one in thefts.

Which cars are least likely to have catalytic converters stolen?

How long does it take to steal a catalytic converter?

Thieves can remove a catalytic converter quickly, often in less than two minutes, so theft can even occur in broad daylight. The only tools a thief needs are a wrench (for converters that are bolted on) or a reciprocating saw (for converters that are welded in). Some thieves bring a mechanic's creeper.