RWG Technical Posted April 24, 2012 Report Share Posted April 24, 2012 With the rise in Gold prices, the first watches I noticed being affected were vintage pocket watches. By "being affected" I am of course referring to the sudden appearance of thousands of pocket watches for sale, with no case, only the dial/hands/movement were for sale. The case, being made of Gold, was scrapped and the owner was trying to sell of the guts... Lately I have seen a huge increase in the numbers of watches that have been also being parted out and the cases sold for scrap metal. These are high end brands with their cases missing having been sold for scrap metal and the guts are being sold for pennies on the dollar. Does anyone else have a problem with this trend or is it only me... Not that we can do anything about it, but the reality is that historic pieces are being scrapped for the price of Gold. These missing cases will never be able to be remanufactured and the watch is basically junk when only the dial, hands and movement are remaining. Other than using these items to repair another complete watch, it's nothing but scrap junk. Personally I think it's a real shame and that we are loosing historic watches, yes I know millions were made, but I also believe that millions have been, or are going to be scrapped, and their Gold cases melted down. Not like this same scenario hasn't happened before with other types of items, only to discover too late that historic pieces were lost. What do you think? Quote Link to comment Share on other sites More sharing options...
kbh Posted April 24, 2012 Report Share Posted April 24, 2012 I remember back when the Hunt Brothers ran up the price of silver back in the 70's many thousands of family heirlooms such as silver ware, tea sets, candelabras, etc disappeared forever to the smelters. It was a shame then and a shame now. The largest export from the State of Florida last year was gold that was shipped to Switzerland. I was shocked when I read that. It also makes you wonder how much of it was stolen watches, jewelry, etc. that was melted down before it could be traced. Quote Link to comment Share on other sites More sharing options...
Rolexman Posted April 24, 2012 Report Share Posted April 24, 2012 Don't want to sound like an @ss but I really don't care. It mostly are those brands that nobody really cares about. The worth of these watches is made up by the amount of gold used and the movement (brand value=zero). I would do the same as most of the time these watches are hard to sell and assembled seldomly generate the amount they are truely worth. Ergo the best choice is to rip it apart and sell the guts because people just don't appreciate these watches/ brands. Sort of like some Frankens... That's nature's cycle Quote Link to comment Share on other sites More sharing options...
TeeJay Posted April 24, 2012 Report Share Posted April 24, 2012 Don't want to sound like an @ss but I really don't care. It mostly are those brands that nobody really cares about. The worth of these watches is made up by the amount of gold used and the movement (brand value=zero). I would do the same as most of the time these watches are hard to sell and assembled seldomly generate the amount they are truely worth. Ergo the best choice is to rip it apart and sell the guts because people just don't appreciate these watches/ brands. Sort of like some Frankens... That's nature's cycle +1 It's a shame when items of historical interest are lost, but sadly, these are tough times financially, people need money, and if they can get more for the gold value of the watch as scrap rather than an outright sale, it's only natural that they go with the best return Quote Link to comment Share on other sites More sharing options...
TeeJay Posted April 24, 2012 Report Share Posted April 24, 2012 Don't want to sound like an @ss but I really don't care. It mostly are those brands that nobody really cares about. The worth of these watches is made up by the amount of gold used and the movement (brand value=zero). I would do the same as most of the time these watches are hard to sell and assembled seldomly generate the amount they are truely worth. Ergo the best choice is to rip it apart and sell the guts because people just don't appreciate these watches/ brands. Sort of like some Frankens... That's nature's cycle +1 It's a shame when items of historical interest are lost, but sadly, these are tough times financially, people need money, and if they can get more for the gold value of the watch as scrap rather than an outright sale, it's only natural that they go with the best return Quote Link to comment Share on other sites More sharing options...
Jkay Posted April 24, 2012 Report Share Posted April 24, 2012 I am in this exact situation. Some of you may remember a few years ago that my wife scooped up my solid gold Arola ca1962 with a bundle of laundry and washed it. I've been agonizing over scrapping the case or having it restored. Quote Link to comment Share on other sites More sharing options...
archierocks Posted April 24, 2012 Report Share Posted April 24, 2012 the price of gold increase has almost put me out of business twice in the last 18months i have now cut back all gold jewellery to only do bespoke designs for customers i now sell mostly silver and some bought in fashion ranges like nomination and candy bling. gold will go full circle in 10years and the price will drop down back to a sensible level i have seen it before Quote Link to comment Share on other sites More sharing options...
HauteHippie Posted April 24, 2012 Report Share Posted April 24, 2012 (edited) Probably so. When melt value gets up there and you have a plethora of "sell us your gold" outfits advertising everywhere ad nauseam and you have a sputtering economy with high unemployment.... well, one thing leads to another. :-/ Edited April 24, 2012 by chieftang Quote Link to comment Share on other sites More sharing options...
Justasgood Posted April 24, 2012 Report Share Posted April 24, 2012 Sad to see any watch of value scrapped for metal content. i have a few 18kt and 14kt watches that will remain watches even though at times, we are looking under the cushions to make ends meet. Quote Link to comment Share on other sites More sharing options...
Logan Posted April 24, 2012 Report Share Posted April 24, 2012 A hundred years ago everyone carried a pocket watch, many of them gold. Today nobody (essentially) does, so you've got a lot of spares. The point is you don't need millions of them to preserve the history and heritage. It's only us watch geeks who care anyway, to the general public they as obsolete as a ten year old cell phone. Having said that the energy and time wasted to create gold bars to sit in a vault always strikes me as pretty wasteful Quote Link to comment Share on other sites More sharing options...
specialvat Posted April 24, 2012 Report Share Posted April 24, 2012 Ive seen Audemars scrapped for gold, the person did not realise the brand and was aghast when told of the value for the complete watch. Its the gold rush for a new age, peoples sense of value goes out the window for a quick payoff. Quote Link to comment Share on other sites More sharing options...
DeeKa Posted April 24, 2012 Report Share Posted April 24, 2012 Having said that the energy and time wasted to create gold bars to sit in a vault always strikes me as pretty wasteful They are quite useful as door stoppers! If you cover them with a thin layer of lead no burglar will ever care Dee Quote Link to comment Share on other sites More sharing options...
freddy333 Posted April 24, 2012 Report Share Posted April 24, 2012 It mostly are those brands that nobody really cares about. Wrong. In fact, there was a thread on TZ discussing this a few months ago with a number of members admitting having sold Daydates for their scrap gold value. Quote Link to comment Share on other sites More sharing options...
Logan Posted April 24, 2012 Report Share Posted April 24, 2012 There's a nice bonus to us of course.. Loads of movements and parts floating around Quote Link to comment Share on other sites More sharing options...
Ronin Posted April 24, 2012 Report Share Posted April 24, 2012 I blame Fox (faux) News, and the idiotic talking heads like Glen Beck. Hell, all the 24hr news networks are good for $hit and have those cheesy Buy Gold ads. Fear, fear, fear... Seriously, IF the shit hit the fan, do you really think that melted down gold pocket watch is going to do you any good. F u c k i n g Jawas. Quote Link to comment Share on other sites More sharing options...
offshore Posted April 24, 2012 Report Share Posted April 24, 2012 I was in a jewellers the other day, and the local scrap gold guy was also there. He showed me maybe 6 watches, mainly Omegas, but also 1 Geneve. The Omegas were pretty scrappy old Seamasters in general, and had a case value of around $1500 each. I honestly couldn't see any of them selling for that as watches. I could have bought any or all, and passed on the lot. I then asked him about the Geneve, which was an ugly ostentatious thing, and it also had a solid gold bracelet. At $4500 scrap value, it was surely destined for the melting pot. Offshore Quote Link to comment Share on other sites More sharing options...
Rolexman Posted April 24, 2012 Report Share Posted April 24, 2012 Wrong. In fact, there was a thread on TZ discussing this a few months ago with a number of members admitting having sold Daydates for their scrap gold value. You're kidding? Those things are more worth melted? Quote Link to comment Share on other sites More sharing options...
archierocks Posted April 24, 2012 Report Share Posted April 24, 2012 i scrapped over 80% of my gold stock rather than putting in our january sales i made over 300k from the stock which saved us last year Quote Link to comment Share on other sites More sharing options...
HauteHippie Posted April 25, 2012 Report Share Posted April 25, 2012 Seriously, IF the [censored] hit the fan, do you really think that melted down gold pocket watch is going to do you any good. Much better than paper with numbers printed on it. But it also wouldn't hurt to have sought after barter items on hand as well. Cigarettes come to mind... Quote Link to comment Share on other sites More sharing options...
Ronin Posted April 25, 2012 Report Share Posted April 25, 2012 True, but if the US Dollar collapses, I think I would rather have "lead". Quote Link to comment Share on other sites More sharing options...
panerai153 Posted April 25, 2012 Report Share Posted April 25, 2012 This isn't the first time this has happened. As someone said, the silver market soared in the 80's and lots of very nice stuff was melted down. in fact there was a theft ring operating until caught, in our snall city. thye had a van with a portable setup to melt down metal. Supposedly, they would hit a few houses, drive off into the National forest, park, fire up the burner and melt everything down, pour it into molds and within and hour or so, had a pile of silver bars. it's really a shame that a lot of nice watches, usually owned by folks who don't know what they have get sold for scrap. Found their father's watch in a sock drawer when they cleaned out all his "stuff". The "Gold Buyers" run a big full page ad in the local paper and there goes the watch! unfortunately, once they are gone, they are gone forever. Quote Link to comment Share on other sites More sharing options...
frankt Posted April 25, 2012 Report Share Posted April 25, 2012 Back in the 80's, when the silver prices went crazy, I was working for the firm that did the engraving on all the Zippo lighters. They had been selling sterling lighters for quite a while, and we had been working on them for years. One day, while rummaging around in the basement of our building looking for whatever, I stumbled upon three 55gal. drums with sealed tops, and the words "Zippo Scrap" written on them....I opened them, and discovered that they were chock full of STERLING SILVER Zippo lighter cases that were mis engraved, and considered unsellable.(the base metal ones were routinely scrapped) Since Zippo was one of our oldest and best customers, I immediately called the folks in Bradford Pa.and told them of my discovery. the NEXT MORNING, a Brinks armored car arrived at our Attleboro Ma. plant to recover the treasure trove...... And...I never even got a 'Thank You' from those scumbag Zippoheads!! 1 Quote Link to comment Share on other sites More sharing options...
automatico Posted April 26, 2012 Report Share Posted April 26, 2012 There were movements everywhere after the 1980 gold rush too...then gold took a dump. I bought a few gold watches while gold was down over the past 25 years (mostly vintage USA brands) and still have them because I bought them for 'watches' not scrap and they are all in good condition. One was a nos GP auto date in the original box with papers...for $150! Also a couple 14k rolex autos, one for $900 and one for $1200. I never weighed one of the rolex cases but with all the gold milled out inside the case like rolex loves to do, I doubt there is much gold in one. The heaviest gold cases are Bulova and one early quartz model I have is over 30 grams for just the case. A few others that I can remember: 18k GP no date auto chronometer for $150 18 size Waltham PW in 14k signed case of the same period, made in 1892 for $350. I bought it at a watch trading table because the 'experts' thought it was gold filled because it said 'Assayed 14k' inside the caseback and they thought it was gold filled like new 14k Hamilton 'Wesley' 14k Elgin presentation from FOMOCO to a guy who worked 1923 to 1955 He saw it all,T models, A models, B models. flathead V8 and ohv V8. It has a facsimile of Henry Ford's autograph engraved on the back. 3/4 size 14k 21j Elgin from GM Fisher Body like new 14k lady Omega on bracelet with original box for $100 like new 14k Jules Jurgensen auto (not worth much more than scrap) 14k Rado auto in square case with round dial manual wind 18k Patek 'Golden Ellipse' with bracelet for scrap and traded it even for a nib tutone rolex DJ with factory diamond dial like new 14k Hamiltom Electric Van Horn (like new because they would not run for more than a few months before going doa) That being said, I will not scrap a USA made vintage watch...Hamilton, Waltham etc but swiss watches better watch out if times get much tougher. I did scrap a gold crown that my dentist took off when I got a bridge...it was 12k and brought $185. "F u c h i n g Jawas." Hee Haw! A couple friends had 2 cycle Jawa motorcycles in the 1960's...we called them 'stomach pumps' because of the way they sounded. They had a shift lever about a foot and a half long that you flipped over for the kickstarter. Another guy had a Zundapp and he tore up an acre of corn one time when the throttle stuck wide open. He was 'trail riding' in the corn patch and had pulled the kill wire off on corn stalks so there was no way to kill it. He finally fell off and then it chased him all over the place laying on its side so he tried to pick it up and the rear wheel got a bite and it did a 200 foot wheelie with him trying to get back on before flipping over 2 or 3 times and finally stopping. He always claimed to be part American Indian so I called him Chief Corn Stalk after that. Quote Link to comment Share on other sites More sharing options...
grew Posted April 26, 2012 Report Share Posted April 26, 2012 The really sad thing about all of this is that what happens when people sell all of their gold scraps? We're forgetting that most of this gold is going to China and India whose demand for the metal is voracious. In the end we are beholden to the metal, over the annuls of our history fiat currencies have come and gone, but gold has always remained as a medium for exchange. The price of gold has risen as a referendum on the rampant debts that are being run up by various 1st world societies and eventually those debts will have to be paid. For those of you who think you will ever see $300, $400, $500 gold again in our lifetimes I laugh. To respond to The Zigmeister, it is unbelievably sad that people are taking what once was an important part of a persons everyday life, their pocket watch and just discarding it. I don't blame gold I blame the lack of appreciation of their family history and greed for this problem, not the price of gold. Quote Link to comment Share on other sites More sharing options...
archierocks Posted April 26, 2012 Report Share Posted April 26, 2012 there was a gold refiner in the uk that during its peak last year he was melting between 1.5m-2m pounds a day Quote Link to comment Share on other sites More sharing options...
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