Catalytic converter thefts: Cars targeted across Geelong for lucrative part sold on black market

A lucrative vehicle part is being targeted by ‘organised’ crooks across Geelong and being sold on the black market.

A Geelong mechanic demonstrates where a catalytic converter part is stolen from. The crime has been on the rise in Geelong. Photo: David Smith.

A car part worth more than gold is being targeted by crooks across Geelong and sold on the black market.

A North Geelong mechanic said the theft of catalytic converters “is rife” across the city, with criminals shipping them to buyers overseas to extract rare-earth minerals from the exhaust component.

One of them, rhodium, is currently valued at $5983 an ounce – more than double the price of gold ($2911.20).

Like the stock market, prices of these minerals fluctuate, leading to the belief vehicles are targeted in clusters “when the price is high.”

South Geelong Exhaust owner, Chris Allen, said the crime had “got out of hand”.

“It is happening all over the place, it is just ridiculous,” he said.

“I reckon I’ve done at least a 100 catalytic converter jobs this year.”

Rippleside resident Chris Baty had his “cat” stolen in February, when an ounce of rhodium was fetching more than $12,000.

Thefts of catalytic converters are on the rise in Geelong and across the state. Parts are stolen and flogged off on black market for their rare earth materials. Photo: David Smith.

“I had never heard of it before until my mechanic told me this kind of crime was common,” he said.

“This is not just your average junkie breaking into a car and stealing your loose change.

“This is organised crime.”

Palladium is currently priced at $1855 an ounce and platinum $1374, both also found inside the part.

Armed bandits use a car jack and reciprocal saws to easily cut away the catalytic converters, targeting parked cars and vans on side streets, railway stations and shopping centres.

Geelong mechanic Peter Murphy said he had quoted at least a dozen recent jobs.

“It is rife not just here but all over the world,” he said.

“It’s pretty sad, especially if someone has got no insurance because they are very expensive to replace.

“If they get pinched from a truck it can cost up to $20,000.”

Mr Baty was left $4500 out of pocket earlier this year.

He reported the theft to Geelong police.

“I know another person who also had his flogged and I’ve been told about a heap of others in Geelong,” he said.

A catalytic converter is quick cash for thieves. Photo: David Smith.

“It’s certainly been happening in Melbourne.”
Mr Allen said Hi Ace vans and Toyota HiLux models were particularly easy targets due to their ease of access.

He said many thefts went unreported.

“They know what these things are worth and where to sell them,” he said.

“It’s like a share market, sometimes you might get a handful in a month and others you might get 50 depending on the price (of the minerals).

“I’ve done a s*** load.”

Mr Allan said stolen parts were sold on the black market “for a few hundred bucks” before being shipped the Middle East, Asia and Europe.

Victoria Police has been contacted for comment.

It comes after an American towing company, TDI Towing, is alleged to be behind the theft of $8.2m in catalytic converters after being busted in Philadelphia this week.

Originally published as Catalytic converter thefts: Cars targeted across Geelong for lucrative part sold on black market