Auto Recyclers ToolBox® 43 would rebuild the small parts and sell them to “Hot Rodders”. Then it seemed like the rebuilders where gone and small parts died out. Also, during this time, cat- alytic converters were sold to the local core guy and bought on an average. I think when I started buying converters, there were ten categories. Today’s Market Since then, technology has evolved and changed the whole salvage and recy- cling industry. Small parts became important and started producing a major revenue stream for salvage yards. I am sure many of you remember keeping your catalytic converters and small parts in truck beds and leaving them outside. That definitely does not happen any- more. The converters would be stolen and the small parts would be ruined from the weather. Technology has enabled “Junk Yards”, now known as “Salvage Yards”, to simply enter a VIN into a tab- let and see who was willing to pay what for every remanufactured part on a vehi- cle, allowing yards to increase their prof- its on parts that might have previously been scrapped. The Infamous Assay There are many companies out there advertising that they will pay on assay for larger loads. However, what the majority are really doing is picking up the converters and then shipping or sell- ing them to a company like LSR. To truly assay a converter, a company has to have not only very specialized equip- If that is the case, then converters should account for about half of that core and crush program profit. Anyone still using the local core guy should consider mak- ing a change. Technology has not only affected small parts, it has affected cata- lytic converters as well. However, as with small parts, some people still want to take advantage of yard owners when it comes to catalytic converters. While companies like LSR have embraced tech- nology, others have not or are still in the beginning stages. 20% to 30% added to profits In doing my due diligence for this article, I called many salvage yards to find out what kind of increased revenue stream was created. I only called late model yards so this may not apply to your yard. Among the yards I contacted, the numbers seemed to be pretty similar. Over and over again, the yards told me their core and crush program added up to 20% to 30% of their overall profits. Here are some questions every yard should ask when consider- ing which company to use to sell their converters on assay: ment but knowledgeable individuals who understand the process. Just being able to cut material is not the same thing. Ÿ Can they produce an assay in house, and, if so, what kind of assay do they perform. Is it a Niton Gun, an x-ray fluorescence analyzer or an inductive coupled plasma spectrometer? Ÿ What type of sampling system do they use? Ÿ Do they have an in-house lab? The Whole Unit If cores really mean more and make up 20% to 30% of total overall profits, I would recommend not only asking ques- tions, but visiting their facility and see- ing the process itself. After that, it really boils down to trust. I am pretty sure that Ÿ What kind of dust collection system do they use and are they paying their customers for the dust? If a company is not able to offer any of the above, perhaps they are not the best company to use. For example, if they do not pay their customers for the dust, then the purchaser, not the yard, is profiting from the precious metal that is contained within that dust. Additionally, the type of assay performed, as well as the sampling system, can also affect a yard’s profits. The more precise the equipment and system used, the more money in a yard’s pocket. Cores Really Can Mean More If a yard is more comfortable sell- ing converters as a whole unit or has only smaller loads that do not qualify for assay, it is important to know how the purchaser determines what each indi- vidual converter is worth. LSR, for example, after assaying thousands of converters, has developed a database of converter values. For customers who pre- fer to or need to sell by the whole unit, LSR simply locates the serial number or code on the shell of the converter and refers to their database for the value of that particular unit. This gives a yard not only the potential benefit of choosing to sell as a whole unit, but provides the yard with the preciseness only offered through assay. I think most yards would agree that most companies offering to buy converters on an average are not adjusting that average in the yard’s favor. if I was throwing your aluminum wheels on my truck I would not be able to toss one on and pay you half the going rate or convince you that the aluminum wheel is really something else. Unfortu- nately, this happens too often in the con- verter industry. Core buyers and compa- nies might give you a high price on cer- tain converters or, if on assay, a seem- ingly high return. But in truth, what is the bottom line? The only way for a yard to truly know that their cores mean more is to educate themselves about all the advances in the industry. Ride the wave So, if you want your Core program to really ride the wave, I invite you to visit our facility, meet our experts, get all your questions answered and then decide if you are getting the most out of your Cores. Later dudes! Contact Danny Miller at LSR LegendSmeltingRecycling.com dmiller@legendsmelting.com Or visit: 815-641-7661, email him at Headquarters Hebron Ohio BUYING CENTERS Newark Ohio Liberty Hill Texas Ypsilanti Michigan Spring Valley California Edinburgh Indiana Santa Fe Springs California Joliet Illinois Lodi California LOCATIONS LOCATIONS LOCATIONS The Process The Process The Process