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Calculating the Value of a Gold Wristwatch

By Edited Feb 5, 2016 0 1

Given the current state of the American economy, it's not unusual for people to look for ways to bring in extra money by going through old jewelry or items that they can sell for a good cost. If you have gold or precious gems, the time to sell may be now, as the market for jewelry is considerably strong. Gold watches are a popular piece of fashion during any economic times, and a person looking to either buy or sell their wristwatch will have little trouble finding a suitable deal. While a sentimental attachment of the wristwatch is obviously not factored into the price -- and customers may be surprised to find that previous owners may not have been entirely truthful about the cost or weight of the watch -- there is money for any design, even if it is only in scrap gold.

The first step in determining value for gold involves weighing it on the most precise scale you can find. A simple bathroom scale will not have enough detail about specific weight to get an exact amount, so try using a electronic scale, especially if it is used to measure sale by weight. The watch may not be valuable itself, so the minimum amount of money you can receive is a factor of weighing the metal, measured out in grams. Purity of gold means just as much, and will be indicated on the watch case as such. Twenty four carat gold is called pure gold and is always worth the most amount of money; eighteen carat gold is called three quarters, twelve is called half, and so on. Twelve carat gold is, naturally, worth half as much as twenty four carat gold.

Using a decimal value, then, for the various purities, you'll find that a 24 carat will be 1.00 times the weight, while 22 carat is worth .916, 18 carats is worth .75, 14 carats is worth .583, and 12 carats is worth .5 the weight.

Once you've found the weight and purity, simply multiply by going prices of gold. The price fluctuates on a daily basis, and sites like goldalert.com will monitor the price and update regularly. A recent price is just under forty dollars per gram. Consider that a pawn shop has to profit for themselves, so they may only give around eighty to ninety percent of the value in cash or trade, and that these calculations do not reflect the brand of watch; Rolex gold wristwatches be worth more money simply for the brand name.

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Comments

Sep 28, 2010 9:06pm
mcimicata
This article is nothing short of amazing, and I enjoyed reading it.
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