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June 16, 2006, Newsletter Issue #21: The High Retails of Gold Watches
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Tip of the Week
The retail prices of gold watches are generally much higher than their steel counterparts. If diamonds are added, the price rises even higher. The retail price compared to the actual costs of the precious metals and stones used are not consistent.
Gold prices are traditionally fixed in US$ per troy oz (31.1grams). The price is currently around $430 per troy oz (Nov-4-2004). Most companies do not indicate the weight or how much gold is used in their watches. A typical ladies watch with gold bracelet will weigh about 3 ounces (2.7 troy). Remove the movement and other parts, and you have about 1.5 troy oz. Thatīs about $645 of gold value. A gold gents watch on bracelet will weigh 5-8 oz. . That would leave 2-5 troy oz. Thatīs only $860 to $2150 in gold... And if it weighs 8 oz, thatīs one heck of a hefty piece! A Gold Rolex Submariner comes close to that and retails at $19,750. The standard President which is a little lighter retails at $19,300. It is clear that these companies are making a lot more money on gold watches. To see real examples of how much discounting can be done, check out the gold inventory on our website. A watch with a leather strap will have less than half of the gold weight as a piece with a solid gold bracelet.
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