Have you every had a fantasy like this?
Your old Uncle Chuck died and while you are clearing out his house, you find an old watch in his dresser drawer. It has a stainless steel case, nothing special. But the appraiser who comes to evaluate the estate says, “Hold on, this watch isn’t made of stainless steel, it’s made of platinum and is worth at least $10,000.”
That fantasy is built on the fact that platinum, white gold and stainless steel look similar, and that all three metals have been used to make watch cases. But the chances of finding a platinum watch are minimal, for reasons we will now explain.
Platinum Watches Are High-End Items
Tourneau, the famous jeweler in New York, is currently selling used platinum watches made by Patek Philippe (price, $75,000), Jaeger-LeCoultre ($37,450), Rolex ($25,000) and Panerai ($86,340). When people have jewelry that is worth that much money, they tend to keep track of it and keep it safely stored. After they pass away, chances are you will find it bequeathed to an heir, not lying around in a dresser drawer. So unless Uncle Chuck was both vastly wealthy and eccentric, he probably didn’t leave a platinum watch lying around in his bedroom.
Platinum Watches Are Rare and Getting Rarer
Only Rolex and a handful of other companies still make them. That means that while the odds of finding an old platinum watch are slim, the odds of finding a new one are even slimmer.
You’re Much More Likely to Find Platinum Rings than Platinum Watches
For reasons we can’t fully explain, platinum engagement rings are being sold in great numbers, while platinum-cased watches are extremely rare. Chalk that up to fashion, current tastes in jewelry - we are not sure.
But Proceed with Caution Anyway . . .
If you find an old watch with a white metal case and don’t know what it is made of, why not have it tested? Call Specialty Metals Smelters and Refiners at 800-426-2344 to speak with our precious metal consultants. You have nothing to lose and everything to gain. Maybe Uncle Chuck was a lot crazier, and a lot richer, than anyone realized.