As gold prices rise, what will happen to the price of gold watches? [see below⬇️]. (👇Click the link below to win a Rolex from Temple of Dream..enter the competition👇).
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On this video, we're gonna be discussing current gold prices, how they're rising and what effect that will have on your gold watch in the watch market.
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So it's no secret that the current gold prices and all precious metals are rising right now in the market, so the question people start to ask me is, “Will the prices of the watches go up?”
You know, I remember back when the prices were a lot lower, back in the middle of the financial crisis when gold went as high as $2,000, but yet the market was lower, it didn't really affect the watches too much.
I mean, yeah I get it, you know, the market was slow, but the retails did not go up. So really I always tell people this. Even when gold fluctuates, it goes up or go down, the price of let's say a gold Submariner stays the same. Alright?
The market would have to rise to a level that's so extreme to maybe perhaps $10,000 a Troy ounce, that then I say, “Hey, let's take a hammer to the glass of this watch and let's just sell it for gold.”
But usually when you buy a gold watch at the right price, your money is safe, whether the gold goes up or down, it stays the same price. It doesn't necessarily directly affect it as far as because the watch is made of gold.
The things that affect all that is just pretty much the watch market. Yes, high rising gold prices could affect it, not directly because what it's made from, but maybe just because of the way the economy is going.
So let's keep this in mind when the prices are going up and down right now in gold. They're projecting that it's gonna go super high. Who knows? I mean, I don't know how many economists followers I have on here, maybe they can go ahead and chime in what they feel about the destruction of society as we see the next 12 months. Whatever! Nobody can predict the future.
We'll have to wait and see what happens. But as far as I'm concerned with my experience, when gold rices, the watches stay the same price. When it drops, also as well. It would have to be an extreme fluctuation, like I said, $10,000 a Troy ounce or under to a hundred bucks, then maybe it could probably be a little bit different, because gold has been already for quite some time at a stable $1,2000. It did nothing. Everything stayed the same. Now that we're up to over $1,500, watch prices were already high before that. It was more caused by a supply and demand of the watches in the market.
So there's always gonna be an exception to every rule and the one situation where I feel it would directly affect it is, for example, these off-brand or like really old vintage pieces, where nobody really wants them and they mostly are bought by gold value, sweat to God, this occurs all the time. I got people that bring these really old Bulovas or some off brand that are all gold 18kt, but since there is no market for it and nobody uses them anymore, they're pretty much bought and traded with gold values, so obviously that one will directly cause it to be worth more.
So the reason for this topic is just because right now with the whole thing that's going on in the watch market, where it's up, down, nobody knows where it's going, I actually get this question a lot, seriously! At least three people a week ask me, “Hey, with the gold prices going up and soaring and looking like they're gonna be strong, will the watches be rising?” I mean, my answer is directly because of the material and the gold, “No, I don't think so.”
I think the market as a whole and the economy is probably what would affect that more.
So on another note, as this channel is closely approaching the 100,000 subscriber mark, I wanna ask you guys the question, should I continue doing mostly only watches or would you guys like to see more broader, luxury goods and topics of that nature?
Feel free to comment below what you think I should continue doing on this channel.
And if you liked this video, please like and share. Also, subscribe to our channel. My name is Eric, this is Watch Your Style!
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