Catalytic Converter-Hoax, Scam, or for real

The buyer I use now I've been dealing with for roughly three months maybe more. He was giving me the highest prices on cats aside from a few, but I sold them to him anyway because it was only $4-6 on some small cats. Just yesterday he told me "The market took a crash" that the new price went down $10 per $100 on value of that cat. for example: a cat that was worth $50 is now only worth $45, a cat that was worth $100 is now worth $90, a cat worth $200 is now worth $180, a cat worth $500 is now worth $450, a cat worth $1000 is now worth $900. So basically he dropped my price by 10% on all cats. Part of me thinks it is some type of tactic to drop my price because he thinks he has me reeled in. Should I reach out to some of my old buyers/look for new ones, or is he telling the truth? From what I've seen the price of the precious metals has continued to climb.

Originally Posted by CadillacChris

The buyer I use now I've been dealing with for roughly three months maybe more. He was giving me the highest prices on cats aside from a few, but I sold them to him anyway because it was only $4-6 on some small cats. Just yesterday he told me "The market took a crash" that the new price went down $10 per $100 on value of that cat. for example: a cat that was worth $50 is now only worth $45, a cat that was worth $100 is now worth $90, a cat worth $200 is now worth $180, a cat worth $500 is now worth $450, a cat worth $1000 is now worth $900. So basically he dropped my price by 10% on all cats. Part of me thinks it is some type of tactic to drop my price because he thinks he has me reeled in. Should I reach out to some of my old buyers/look for new ones, or is he telling the truth? From what I've seen the price of the precious metals has continued to climb.

Palladium dropped $73 on Friday; Platinum and Rhodium dropped as well. 10% reduction is a little much.

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I am ALWAYS looking for new buyers and comparing prices.

Originally Posted by blackgold12

During the past year both metals have had outstanding performance, what is your prediction for the upcoming week.

Market Close December 20/2019

Platinum	907.00	-25.00
Palladium	1841.00	-73.00
Rhodium	5560.00	-40

it’s really anyone’s guess in the short term.

Originally Posted by blackgold12

I'm predicting we'll see rhodium once again reaches $10,000.00 US troy ounce mark again and by the end of January 2020 we'll see palladium at $2,000.00 US a troy ounce.

Lloyd Christmas “so you are telling there is a chance?” (Of Rhodium 10,000)

Ummm .... let's take on pace guys and not get too excited. True enough ... i made a killing on silver back in the late 70's but that was more dumb luck than any kind of market wisdom. Not so lucky for the Hunt brothers come silver Thursday when the market dropped 50% in just four days.

PM's are best thought of as a safe and stable long term investment and NOT a get rich quick scheme. It's for that very reason that PM's and especially gold tend to finish strong toward the end of the year. It's a cultural thing for people in places like India to plow their year end bonuses into PM's with the intent that they should be saved for retirement. The increase in market demand tends to bump prices up a notch this time of year.

If you're seeing wild increases in Rhodium, as we've seen over the past five years, it's more likely due to market manipulation than anything else. Take a lesson from history so as not to find yourself on the losing end when the bubble bursts.