A great plan for making money is to sell salvaged and recyclable materials for cash. Recyclables allow even the smallest business to make money selling old parts especially the catalytic converter. A main character in reducing emissions and pollutants produced by the combustion engine, a catalytic converter is imparted with the precious metals Platinum, Rhodium, and Palladium.
- Skill level:
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Things you need
- Salvaged Catalytic Converter
- Digital Camera
Visit the website Ebay.com. Search "scrap catalytic converter" to obtain the latest listings of converters for sale on eBay. This is the fastest way to understand what converters are selling for. See the final selling price for converters already sold on eBay by clicking on the advanced search option link and put a check in the box the says "completed." A list of completed auctions will be shown and the most updated pricing available for you to see what the public will pay for a catalytic converter that is used and only good for the metals inside.
Contact five auto mechanics within a 1 mile radius of your home/office. Find mechanics that will sell you the converters that they cut out of customer's cars. Search from the centre and work your way out. Get to know where the converters will come from. Be prepared to buy them from the mechanic at a good price. Paying the most for converters will let you acquire more converters to sell. Prices are adjustable with the price of the metals so you can adjust your buying price according to your profits. Don't worry about paying a little too much at the beginning, if it gets you a supply of converters, you can adjust the process once you begin to see the price your buyers will pay.
Visit two salvage yards in your area that pay for scrap. If there are no paying salvage yards in your area, use the Internet or telephone to contact two that are closest to you. Here are the commercially paid prices for converters you will have to sell. The importance of having more than one way to sell a converter will be needed to improve your chances of making money selling catalytic converters. Bulk purchases are easier to sell when a buyer has the resources to pay for a large lot. Create a network that knows who you are and likes the way you do business, and the future of selling catalytic converters for cash will be bright.
Photograph the converters for sale on eBay. Create individual item auctions and lot auctions that include more than one converter. With the research you have done on eBay already, the way to sell your converters for the most has been seen already. Some auctions work better than others. Descriptions, shipping rates, the reserved price or lack or reserve will all attract more bidders on your sale. Here's where the making money selling catalytic converters really works. Create auctions that will get more money by having good pictures (X3), a well written description, multiple forms of payment, and fast, cheap shipping rates. Start off slow and build up to having multiple daily auctions to really be successful making money selling catalytic converters online and off.
Register a business name and receive a tax I.D. from the local government offices where you live. This should be step number one, but for most, it ends up as the last thing that gets done. If you have been successful making money selling catalytic converters so far, you will need this registration and tax identification to operate your small salvage company legally. You have organised the suppliers, the buyers, and already have made money with your efforts. Continue to grow and find that the converters were just a small part of future success in the scrap, salvage, and recyclable material industry using these tips as a guide.
Tips and warnings
- Print business cards and visit each mechanic's location personally. No hard sell here. Just ask politely and continue to return once every two weeks for 3 months. They will sell you their converters if they know you are coming back and pay on the spot.
- Every industry has its scammers. Check and double check all converter purchases to be sure the converter has the metals still intact. It is easy to get fooled. Visually check every converter. Have a handy probe to stick inside the converter to see that the parts inside are secure.
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