Amid Soaring Gold Prices, Some Buyers Are Melting Down Vintage Watches
Amid rising gold prices, many buyers are opting to melt down vintage watches instead of keeping them as collectibles. The current market has seen the price of gold reaching record highs, prompting dealers and collectors alike to liquidate their gold timepieces for their metal value, often exceeding the watch's market price. This trend has led to a notable reduction in the supply of vintage gold watches, as people are increasingly viewing these pieces through the lens of commodity pricing rather than their historical significance. The situation has created a paradox where, despite the increased interest in high-gold-content watches, many are being scrapped due to the higher intrinsic value of gold. While some dealers report that popular and iconic models are less likely to be melted down, less sought-after pieces are frequently targeted for this purpose. This behavior could ultimately affect the market, as the scarcity of vintage gold timepieces may elevate the value of those that remain, making them even more desirable to collectors in the long run.
