Why is a catalytic converter so expensive? on 2000 Honda Odyssey

I've gotten quotes for replacing the catalytic converters on my Subaru and Honda and both quotes were over $1000.

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3 answers
Some have a platinium-iridium catalyst which accounts for a lot of the cost.
basicly, it is all the precious metals that make it so wxpensive.

Roy
The catalytic converter contains a very expensive metal that cost more than gold.