What Are The Pricing Tools That Help You Buy and Sell Converters Profitably?
For those of you who’ve ever bought or sold converters, you know that it can sometimes feel overwhelming. However, with the right purchasing & pricing tools, you can ease 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 are an added revenue stream to your operations at large. And it’s important that you have everything you need to optimize this department in order to maximize your returns and push ahead of your competition.
That’s why having the right pricing tools is a strategic advantage that helps you buy and sell your converters at the most competitive price out there. Let’s take a deeper look at converter buying protocols and what pricing tools can do for you.
But First: Responsible Sourcing
The converter buying process kicks off way before you make the purchase or sale. Sourcing converters responsibly means ensuring that all catalyst material has been bought ethically from registered businesses. We understand, though, that noticing sourcing red flags can be tricky, so here’s what you should be on the 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 ensure 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.
If you have a phone, then 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 – 90 seconds. And the best part is that the prices you’ll receive are reflective of current market values, which means you’re offering the most competitive price at the moment.
Master Catalog & Price List
Master catalogs and price lists are referencing tools that help you make the most informed decisions for your converters.
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. With it, you can 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.
This buying tool revolutionizes the way you purchase end-of-life vehicles. Simply 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 estimation.
You’ll get prices based on current market values, which helps you adjust your bid and secure the scrap vehicles you want.
Pushing Ahead of the Curve
With purchasing and pricing tools, you ease the buying process and give yourself a strategic advantage that nobody else has. When you’re equipped with these tools, you work smarter, not harder, and you make the best and most informed choices for your converters.
For more information, visit PMR’s Resource Center.