What Are The Pricing Tools That Help You Buy and Sell Converters Profitably?

Those of you who’ve ever bought or sold converters know that it can sometimes feel overwhelming. However, with the right purchasing & pricing tools, you can simplify the process of converter collection and drive up your profits. And we’re here to show you how it’s done. Check out the video below or keep reading.

Why Should You Use Converter Pricing Tools?

Whether you’re a scrap metal or an automotive recycler, converters can serve as an additional revenue stream. But if you're going to take full advantage, there are certain things you'll need to maximize your returns and outstrip your competition.

One of those things is the right pricing tools. These tools provide a strategic advantage, helping you buy and sell your converters at the most competitive price out there. Let’s take a deeper look at converter buying and what pricing tools can do for you.

But First: Responsible Sourcing

Making sure that the converters you’re acquiring are responsibly sourced should be the first step in the buying process. Sourcing converters responsibly means ensuring that all catalyst material has been bought ethically from legitimate businesses. We know that identifying sourcing red flags can be tricky, so here’s what you can lookout for: shiny new converters, sellers with no dismantling connections, and sellers who insist on cash-only transactions.

Here's what you can do to practice responsible sourcing:

• Make sure your sellers provide a photo ID.
• Demand vehicle identification numbers (VINs).
• Verify the business of your sellers, either through internet searches or through your network.
• Require proof of all recycling licenses and permits required by the local and state law of your region.

Now that we’ve covered responsible sourcing, let’s move on to purchasing and pricing tools.

Photo Grading

If you have a phone, you can price a converter in a minute and a half. With photo grading, all you have to do is take a picture of the unit you want to price, and you’ll receive an estimation in 60 to 90 seconds. And the best part is that the prices you’ll receive reflect current market values, which means you’re offering the most competitive price.

Master Catalog & Price List

Master catalogs and price lists are referencing tools that help you make the most informed decisions for your converters transactions.

Master catalogs help you reference the price of a converter by serial number. At PMR, for example, our catalog has over 33,000 serial numbers – and that’s all converters we’ve personally analyzed. You can view refined value ranges and average assay returns, helping you make the most informed buying choices.

If you’re familiar with grading converters, you could also benefit from the price list tool, which allows you to reference grading categories. For example, at PMR, we have 60 current, per-unit converter grading categories. This can help you buy units per grading category at the most profitable price.

VIN/TRIM

This buying tool revolutionizes the way you purchase end-of-life vehicles. All you have to do is input vehicle VINs and you’ll receive a price estimation for the pre, manifold, and regular converters of that car. If you don’t have the VINs, you can input the vehicle year, make, and model to receive your estimate.

You’ll get prices based on current market values, which helps you adjust your bid and secure the scrap vehicles you want.

Staying Ahead of the Curve

With purchasing and pricing tools, you simplify the buying process and give yourself a strategic advantage. With these tools, you’ll work smarter, not harder, and you’ll make the most informed choices for your business.

For more information, visit PMR’s Resource Center.