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Rolex worth it's weight in gold?

124K views 38 replies 22 participants last post by  gaijin 
#1 ·
Hello all. This may have been asked before but I have not found it. Lets say I wanted to buy a solid gold GMT II Rolex ( I truly do) . I know it's 18k gold. What is the actually weight of all of the gold on the watch excluding the weight of the dial and movement? Since 24k gold is at such a high value it stands to be that a solid gold Rolex should be worth it's weight in gold. With that in mind how much is 18k gold vs/ 24k gold per ounce??
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#3 ·
There is roughly 150g of 18k gold in a solid gold GMT, case and bracelet. At current gold prices, that works out to between $5,500 and $6,000. If you had bought one back in the mid-80s for $5,000, you could trash the movement and crystal and sell the watch for its gold (there are refiners in NYC I work with who will pay me 90% of the actual gold value, based on the spot price). But if you're buying a new watch (or even a used one), you will pay many times more than the scrap value of the gold.

That said, I do not recommend buying a watch in yellow gold. Most watches now are offered in rose gold, which has a higher bronze content, making it more resistant to scratching (solid yellow gold is a scratch magnet). But Rolex has gone even further: Their patented "Everose" gold is alloyed with platinum, making it even harder than traditional rose gold. Not every watch is offered in Everose (including the GMT II), but it is worth thinking about when spending that much for a solid gold watch (which, for the GMT II, is about 30 grand).

Rob
 
#4 ·
There is roughly 150g of 18k gold in a solid gold GMT, case and bracelet. At current gold prices, that works out to between $5,500 and $6,000. If you had bought one back in the mid-80s for $5,000, you could trash the movement and crystal and sell the watch for its gold (there are refiners in NYC I work with who will pay me 90% of the actual gold value, based on the spot price). But if you're buying a new watch (or even a used one), you will pay many times more than the scrap value of the gold.That said, I do not recommend buying a watch in yellow gold. Most watches now are offered in rose gold, which has a higher bronze content, making it more resistant to scratching (solid yellow gold is a scratch magnet). But Rolex has gone even further: Their patented "Everose" gold is alloyed with platinum, making it even harder than traditional rose gold. Not every watch is offered in Everose (including the GMT II), but it is worth thinking about when spending that much for a solid gold watch (which, for the GMT II, is about 30 grand).Rob
My heart skipped a beat or two when I read the first part of your post and thought about mine purchased new in the mid-80's for USD5000:
I'm sure any owner of a new one purchased today would feel the same 25 years from now.I know it's just a mental exercise, but the idea of selling a solid gold Rolex for scrap just makes me cringe.
 
#6 ·
No I have no plans to buy a Rolex and scap it. I was just thinking that because gold is so high that in a worst case senerio that the only Rolex that would be sellable (in a depression etc.) would be a gold one. Thus wondering the value based on weight only.
 
#7 ·
I knew that was your reason for asking, which was why I was trying to give you a rough value on the the gold in a Rolex. In a "worst case scenario," however, the loss of 80% of one's investment would be secondary to the societal chaos that would precipitate such a desperate sale. One would more likely be beaten and robbed by an anarchic mob before they had the chance to carry out an arms-length sale. That would be, in my view, a true "worst case scenario." Wow ... what a depressing thread this has become. ;-)
 
#14 ·
If that scenario becomes a reality forget about gold, the only metal that will be valuable is lead.
That is sooo true! I'm stocking my shelves with .223 now. Oh wait I already have. Lol
 
#9 ·
18kt is 75% pure. 24kt is 99.99%. From a financial standpoint you're better off buying a SS and buying the gold separately. You will get a lot more for the $ and liquidation will be easier as well. If you're set on a gold Rolex then buy one but if you're going gold for financial reasons you are better off buying the watch and gold separately.
 
#11 ·
Maybe this is off topic. Now and then eBay has classic Omega movements - I have bought a few cal 813's - because the previous owner sold the gold case for scrap. A sad way for a classic watch to end it's life. Quite often the Omega forum has people searching for an older manual wind which now most likely would be worth more than what the gold case sold for.
 
#15 ·
I bought my 18k gold GMT Master #1675 in November 1969 at the Artland Watch Co. Hong Kong for under $500.00. Last year had it refurbish for under $2,000.00. Had to replace the band in 1972 - trade of old band plus $500 for a concealed 18k gold band. November will be 43 years since I got the watch.
 
#20 ·
To answer the OP's question, Rolex is worth more than its weight in gold. People continue to pay a strong premium for intrinsic value that is unattached from physical reality. Paying $10,000 for a SS watch, where the materials cost hundreds, not thousands of dollars. It's not just Rolex. Patek has successfully passed around the crack-pipe of spending as well have others.
 
#21 · (Edited)
The economics and psychology of it are interesting. The same goes for gold itself- a not very useful metal that is valuable only because it is pretty and people have historically used it for money, and the quantities of supply and demand. Diamonds would be worth almost nothing, if not for a cartel convincing virtually everyone that they have to buy one to get married. At least a luxury watch requires knowledge, skills, etc. to be built, and performs a function, albeit one that can be done more effectively at far less cost. You are correct though- a Rolex is worth its weight in gold, at least now. There are of course economic scenarios short of doomsday to consider, such as recession, depression, etc. I don't know the answer, but I suspect a Rolex would lose its value before gold, and gold would lose its value before guns...

By the way- I was just wondering, would it be possible to buy a stainless watch and have it gold plated to a high standard? Or would that be considered in poor taste for a Rolex? I mean, you would still be wearing a Rolex watch, not a fake. Just wondering out of pure curiousity . There are a couple of stainless Rolexes I like but no desire for a gold watch.
 
#23 ·
I can't wear gold watches yet (too young to get away with it), so I stick to SS and buy gold bullion instead.

No secret that you are grotesquely overcharged for the gold components in a watch, but that doesn't take away from the appeal. If gold climbs steadily, all shall be good in the future. If not, the second hand price of the watch will still follow Rolex economics and all shall be good as well.

As a short term deal, I would keep my hands off.
 
#29 · (Edited)
So guess I'm better off just waiting on a steel version of the new pepsi. In rough numbers there's only about $3900 in gold in the 18k white gold version. And those are rough numbers. Google says the total weight of the watch is 152 grams. Then I used an online calculator to estimate the current value.

I still kind of want the white gold version. Maybe in the future I'll look for preowned. At least now I know the markup on just the gold which was my objective to make an informed decision.

@patton250 love the .gif
 
#33 ·
Yes, you are ... if you're trying to use the intrinsic value of the gold content to make it a good deal. Here's a novel thought: Buy a watch because you really like the look of it, and will enjoy having it on your wrist for years to come. Any other reason for owning a watch, especially as an "investment," is a fool's errand.
 
#38 ·
Your best bet is to consult sites like eBay. You also can check out the For Sale forum here on WUS, but I don't ever recall seeing a solid gold GMT "root beer" for sale.

And, BTW, that is the Jubilee bracelet, not the President bracelet.
 
#39 ·
We're not in the practice of putting values on watches here, but I can tell you that when I sent mine back to Rolex for a service, they suggested I insure it for US$25,000. Of course, the condition of your particular watch, its provenance and the current market, will determine what you will be able to sell yours for.

HTH
 
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