Are we wealthier than we thought?
01/28/2023
Well, the above question may sound a little strange in view of the high inflation rate. But it is precisely because of rising prices that car owners may have unexpected values lying dormant in their garage. At least if the cars have a catalytic converter. This is now even the case for many classic cars with an H license plate (CH: veteran registration).
Did you know that these catalytic converters are really valuable? At least if they are not fitted to a car that is too new. Maybe not you, dear reader, but thieves know that.
While reading his daily newspaper in the morning, the author learned that - at least here in the western tip of Germany, but not only here - the theft of catalytic converters has increased considerably and, according to the Aachen police, the number has almost tripled in the last five years.
However, the thieves are not after the entire exhaust gas purifier, but only one component of it, or more precisely the core of the catalytic converter, the so-called monolith. This contains 3 to 5 grams of precious metals, in particular rhodium. The value of this metal has multiplied in the last five years; at the time of writing, one gram costs EUR 365.45. To get hold of the precious material, thieves use an angle grinder or pipe cutter to remove the entire catalytic converter in minutes, which is easier on older models (such as the Toyota Prius pictured) than on new ones due to easier access under the floor of the car.
And now the owner of the car has the - well, you know - ...card. Because the replacement value of a catalytic converter may well exceed the current value of an old car. So let's hope that if the worst comes to the worst, everyone is well insured and let's look at the not-so-new, but not too old cars with different eyes. In any case, the term garage gold now takes on a whole new meaning.
