If you are 50 or 60 years + - what was your first watch (its cost); how many wrist watches you own and the costliest Watch that you have today !! [some of us may not have a wrist watch at all now !]
The Klondike Gold Rush was a migration by an estimated 100,000 prospectors to the Klondike region of Yukon in northwestern Canada, between 1896 and 1898. Gold was discovered there by local miners in Aug, 1896; when news reached Seattle and San Francisco the following year, it triggered a stampede of prospectors. Some became wealthy, but the majority went in vain. It has been immortalized in films, literature, and photographs. To reach the gold fields, most prospectors took the route through the ports of Dyea and Skagway in southeast Alaska. The Canadian authorities required each person to bring a year's supply of food in order to prevent starvation. In all, the Klondikers' equipment weighed close to a ton, which most carried themselves in stages. Performing this task and contending with the mountainous terrain and cold climate meant that most of those who persisted did not arrive until the summer of 1898. Once there, they found few opportunities, and many left disappointed.
Those days when I went to school, wearing a watch was a prestige ! – not many could afford watches; HMT [Hindustan Machine Tools] priced their watches in the range of Rs.350/- + and in 1979 my grandfather Athichozhamangalam Ramanujachar awarded me one [HMT Vijay blue-dialled wrist watch] for scoring good marks in SSLC Exam - it was heaven ~ those days, Rs.375/- easily was more than a month’s salary for most…… life has changed a long way..
In social media the story of Ronaldo owning hundreds of very high value watches and suddenly deciding to sell them off to support education of under-privileged has been circulating for long. It is more of a dramatized claim and does not appear to be a verified news !!
Factually, Ronaldo is one of the world's most avid
luxury watch collectors, with his collection estimated at over £10 million
(roughly €5–12 million). He owns
priceless timepieces including Richard Mille, Bugatti Chiron CR7 (worth ~$1
million), and custom Jacob & Co watches. In
July 2023, Ronaldo became an investor in Chrono24 (the luxury watch marketplace),
not a seller of his collection
Watches are
not simple time tellers – they are fashion statements. People buy luxurious watches primarily for
status, craftsmanship, and investment value—not just to see time. Factually everyone knows that a Rs.100 watch
is also accurate, and serves the purpose and one does not require a luxury
timepiece. Ultimately, luxury watches
represent style, craftsmanship, and legacy—an investment beyond just telling
time. For rich - different watches are for formal events, casual outings, work,
sports, or diving—just like you have different outfits for different
settings. To
the privileged each watch is a "piece of art on one’s wrist" with unique design, materials, and
complications
Among the connoisseur collections - 18-carat gold Omega Constellation watches from the late 1970s are highly sought-after vintage timepieces. The 1970s saw a shift from the classic "Pie-Pan" dials of the 1960s to bolder geometries, including rectangular, tonneau-shaped, and TV-shaped cases. These watches featured highly engineered automatic or early quartz movements—such as the Megaquartz or marine chronometers—as Omega experimented with cutting-edge electronic timekeeping.
Luxury watches
are designed to be worn, admired and, in many cases, passed down through
generations. But as gold prices remain near historic highs, some are now being
valued less for their craftsmanship than for the metal inside them.
Omega’s Constellation has appeared in films, advertising campaigns and on red carpets, including the Met Gala. Many celebrities have helped turn the model into a symbol of luxury and glamour. Yet some older gold versions of such watches are now being sent to the furnace, according to a report by Reuters.
Gold touched a record $5,600 an ounce in January before easing to around $4,200. Even after the pullback, prices remain almost twice their 2024 average. The rally has pushed the value of the gold in some vintage watches above what the complete timepiece can fetch in the second-hand market.
The report states that a massive trend is currently sweeping the luxury watch industry where vintage, worn, or less-collectible gold watches are being melted down for their raw metal value. With gold prices soaring well over $4,000 an ounce, the scrap value of the gold in many watches is significantly higher than their pre-owned secondary market or auction value. This practice largely targets contemporary pre-owned models and older vintage watches that do not hold special collectible or historical status. Brands frequently affected by this trend include Omega and TAG Heuer. Even overstocked new watches that struggle to sell at retail are being scrapped.
Watches contain anything from a sliver of gold to over 200 grams. For example, a vintage Omega Constellation watch recently melted down by a British dealer yielded 35% more in gold value than its estimated auction value. Dealers also strip out the watch movements and resell them, making melting highly profitable. Sluggish secondary market sales, high supply, and the rising cost of providing warranties make scrapping an attractive route for traders. Furthermore, cashing out scrap gold at a refinery or office is direct and immediate compared to long, complicated auction processes.
According to the Reuters report, used models from brands such as Omega and TAG Heuer are among the most exposed. Highly collectible watches from Rolex and Patek Philippe remain better protected by scarcity and stronger resale demand. Historian Adrian Hailwood told Reuters that once a watch with a distinctive history, ageing pattern or rare design is melted, its value as a complete cultural and mechanical object is permanently lost.
There are no official estimates for the number of luxury watches being melted, Reuters reported. However, World Gold Council data cited by the news agency showed that global gold recycling rose 5% to 366 tonnes in the first quarter. The value of gold-jewellery demand increased 31% to $47 billion. Industry analysts interviewed by Reuters suggest that the pressure could continue if gold prices rise again.
For watch owners, the
decision is not always financial. A watch may be a family heirloom, a gift or
the owner’s first major purchase. That emotional attachment may save some
pieces. But for watches without sentimental or collector value, the gold rally
is changing the calculation. A luxury timepiece can now be worth more for its
metal than for its name, history or machinery.
The Gold Rush released
in 1925 is American silent comedy film written, produced,
and directed by Charlie Chaplin. Chaplin
drew inspiration from photographs of the Klondike Gold Rush as well as from the
story of the Donner Party who, when snowbound in the Sierra Nevada, were driven
to cannibalism or eating leather from their shoes. Chaplin, who
believed tragedies and comedies were not far from each other, decided to
combine these stories of deprivation and horror in comedy. He decided
that his famous rogue figure should become a gold-digger who joins a brave
optimist determined to face all the pitfalls associated with the search for
gold, such as sickness, hunger, cold, loneliness or the possibility that he may
at any time be attacked by a grizzly. The film features scenes like Chaplin
cooking and eating his shoe, or how his starving friend Big Jim sees him as a
chicken.
14.6.2026
No comments:
Post a Comment