Catalytic Converter Thefts on the Rise

Just surfing around this morning, I stumbled upon a local thread where folks were talking about catalytic convert thefts. Apparently this is a growing problem, especially for vehicles with higher ground clearance. "A thief can slip under a vehicle and, with a battery-operated saw and metal-cutting blade, make two quick cuts and remove the catalytic converter, " said Mike Antich, a reporter for fleet-central.com.

What's so attractive about the catalytic converter? The precious metals inside. A converter can contain platinum, palladium and rhodium in small amounts. It could take up to 15 converters to equal an ounce, but an ounce of platinum, for example, was selling for more than $1,400 on the spot metal market recently, palladium was $365 and rhodium more than $6,000. When the thief fences the stolen part, he gets a couple of hundred bucks and you get a bill ranging from $350 to $1,500. Sadly, short of motion or vibration sensing alarm systems and enclosed garages there isn't a whole lot you can do about the problem.

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