Jump to content
When you buy through links on our site, we may earn an affiliate commission.
  • Current Donation Goals

Rolex got robbed of 15Kilo's of gold


wimpie007

Recommended Posts

Luxury Swiss watchmaker Rolex has been robbed of more than 15 kilograms of gold -- worth almost 15 million euros -- and a foundry worker has been taken into custody, a judicial official said Thursday.

Rolex, whose status-symbol wristwatches cost several thousand euros/dollars apiece, says the employee, a temp, admitted stealing five kilograms (11 pounds) of gold from the plant in Plan-les-Ouates, the official said.

The man's lawyer Francois Canonica said he has been detained and charged with theft and breach of trust, the ATS news agency reported.

"Whether he should be blamed for the extra 10 kilos remains an open question," said the lawyer.

"It appears that the security system put in place by Rolex -- supposing it has one -- has shown its limitations," Canonica added.

Link:

http://www.financialpost.com/news/Rolex+temp+steals+gold+worth+million/3106524/story.html

http://www.straitstimes.com/BreakingNews/World/Story/STIStory_535122.html

and many more if you google.

But how can 15 kilo's be worth so much? White gold or something?

Link to comment
Share on other sites

But how can 15 kilo's be worth so much? White gold or something?

That is a good question; 15 kilograms = 529 ounces; current spot price of gold is $1217.00/oz, which works out to be $644k US. Seems like a bit of an inflated figure, even if there is something special about the gold.

It should be noted that Rolex does smelt their own gold and their Everose gold contains some platinum. Still... I don't see how 15 kilos of gold can equate to 15M euro, even with some Pt content...

Link to comment
Share on other sites

Ubi, you're forgetting this is Rolex Gold. Its intrinsic value is far more than expected.

A Rolex NOS "white copper" bezel weighs what, several grams? Your price: $2,000 :o And it's made of fricken plated brass.

One can then extrapolate to the calculated valuation of Rolex Gold.

Link to comment
Share on other sites

Poor Rolex. I hope they can survive from this. Does this mean they have to increase their service costs now? I was quoted €500 for a full one... maybe those "bargain days" are gone now. :thumbsupsmileyanim:

Link to comment
Share on other sites

Ubi, you're forgetting this is Rolex Gold. Its intrinsic value is far more than expected.

A Rolex NOS "white copper" bezel weighs what, several grams? Your price: $2,000 :o And it's made of fricken plated brass.

One can then extrapolate to the calculated valuation of Rolex Gold.

LOL

Exactly!!

Link to comment
Share on other sites

Ubi, you're forgetting this is Rolex Gold. Its intrinsic value is far more than expected.

A Rolex NOS "white copper" bezel weighs what, several grams? Your price: $2,000 :o And it's made of fricken plated brass.

One can then extrapolate to the calculated valuation of Rolex Gold.

Yeah... I suppose that is true. Especially if it had the rare MK2 stamping on the end...

:lol:

Link to comment
Share on other sites

I bet the value is bogus since that's the only text I could find that mentions value. Most Swiss news agency are just reporting 15,7Kg of gold missing, no monetary value associated.

I think a headline with 15M Euros is sexier than 500K Euros :)

Link to comment
Share on other sites

It's not just Rolex who's asking ridiculous prices. Breitling charges $600 - $700 of some of their stainless steel bracelets.

That must be Swiss best steel for sure.

Swapped a crystal for my gen Fish in the AD = 380 Euros installed. Yeah I'm a moron but having a perfect AR & glass = priceless. :)

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...
Please Sign In or Sign Up