We understand the importance of this question. This goes to an issue or concern we see among a number of Yard General GMs/Executives.

How does a GM, who is not a converter expert, assure the Boss that they are getting paid the top amount for their converters, every time they sell?

The conflict or tension here comes from the fact that the Boss usually does not know anything more about scrap catalytic converter value or how to sell them than the GM does.

However, as the Boss, he is constantly approached by past and new converter Buyers who are relentlessly trying to buy his converters.

What happens is these “other” Buyers constantly whisper in the Boss’s ear how his GM is a “good guy” but he really doesn’t know converters and that they – as Top Buyers – just know they can pay him more money than he is currently getting for his converters… blah, blah, blah…

And… Don’t forget the “peer pressure”! Your Boss’ peers, other owners, are always going to gloat how much they got paid, which only makes your job more difficult when your numbers do not match theirs!

You got it. From an emotional level – this is exactly what is happening. That is the doubt that is being planted in your Boss’s mind.

Bosses trust their GMs. What most Bosses/Owners lack is specific knowledge about converters’ value. Bosses want to feel confident that their decision to trust the GM is a good one. We have found that the easiest way for them to do this is by having some hard data to prove to themselves and other buyers, that their trust in the GM is justified.

Under traditional scrap catalytic converter selling, this puts the GM in a difficult situation. Because the Boss doesn’t know converters – it is difficult for a GM to explain his actions to his Boss without going into some intricate details… And that creates a problem because the Boss doesn’t know enough, or have the time to learn enough, about converters to understand the details you are trying to share.

We start by identifying what is most important to the GM. We found that in almost all cases, what the GM wants is this:

• The GM wants to make sure their Boss is comfortable with the decisions they make.
• The GM wants their Boss to be able to trust their decisions, have confidence in their decisions, and to be able to understand why the decision the GM made is the correct one.

And while we cannot do this for everything, we can offer GMs a very simple way to get what they want when they sell their scrap catalytic converters.

The simple way to get what you want is for your Company to auction their scrap catalytic converters.

When you decide to sell your converters via the auction process, you quickly and efficiently take everything complicated about your current converter transaction (the price of metals, types of units, competition, buyer sales pitches, lease rates, etc.) and condense it down into one number called a BID.