Will the Low Price of Gold Affect Those Who Want to Sell Watches?
As the price of gold fluctuates dramatically it stands to reason that those selling watches, jewelry, and other items that use gold as their main material might get a bit worried. Though gold is not at the historic high that it was six months ago, at $1200 per ounce it is safe to say that those selling watches and other gold jewelry should be safe. However, those selling these items simply for scrap may be a bit hurt by the recent drop in gold prices. For those retailers that are selling gold watches simply as beautiful timepieces that have been crafted with care, the market should remain stable.
For the most part, those selling gold watches are not in it for the scrap value and these pieces tend to go for more than their scrap gold weight worth. In most cases, gold watches are bought not to be melted down and turned into gold scrap, but rather to enhance the quality of the buyers life. That being said, those jewelers that are selling to clients that want to wear their watches rather than scrap them, the price of gold should have little effect on overall business.
Another issue to consider however is the name brand or the name behind the watch and its design. With brands like Rolex a watch could be made out of dental floss and it would still sell because of the name associated with it. If you’d like to sell your solid gold Yachtmaster, its retail value (and therefore its pre owned purchase price) won’t be much lower – it’s still a good time to sell watches in Boca Raton. While those sellers may not be able to get a large sum over retail, a healthy profit is still there to be had.