High gold prices have changed the maths on some old watches. For a number of them, the gold inside can be worth more than the watch itself.
It's a strange idea, and not always an easy one. Our founder, Jon White, was recently asked by Reuters to share his views on what's happening in the market.
This post explains the trend in plain English. It also covers how we help you determine the right choice for your watch, including when keeping it or selling it as a whole is the better option.
Why is this happening?
In early 2026, the gold price reached record highs. When gold climbs high enough, the intrinsic gold value in an item can be worth more than the realistic sale value of the intact item. That is true for old jewellery, as well as certain watches.
The best guide is always the live price itself. Right now, the live gold price is £3,097.48 an ounce, and you can watch it move for yourself. Keeping prices out in the open like this is part of how we work.
A gold watch case and bracelet can hold a surprising amount of gold. The heavier the gold content, the more the melt value adds up.
When melting can be the better choice
Not every gold watch holds its value on the second-hand market. Many mid-range models sell for far less used than they did when new.
Jon shared a real example with Reuters. In May, a customer brought in an 18 carat Omega Constellation from the late 1970s, in excellent condition.
The gold content was worth around £5,750. Sold at auction, the same watch might have reached £4,000 to £4,500. In this case, the gold value was the higher figure.
As Jon put it: "Beautiful watch. But in reality, had the customer consigned that to auction, what would they have achieved?"
For watches like this, melting can genuinely be the option that puts the most money in the seller's pocket.
When a gold watch is worth keeping or selling whole
This is the important part, and it's where a measured view matters.
Some watches are worth far more than their gold. Rare or collectable pieces, and certain high-end brands, can sell for many times their melt value.
A watch with history, an unusual story, or strong collector demand should almost never be melted. The same is true for a watch that means something to you.
A family piece or a first watch carries a value that no gold price can match. If a watch matters to you, keeping it is often the right answer.
How we help you decide
We never melt a watch without working out what it is truly worth first. Our team considers the gold content, the brand, the condition, and the demand for the piece.
If your watch is worth more sold whole, we will tell you. And if auction is likely to achieve a better price, we can guide you there through our sister company, RWB Auctions, also based in Royal Wootton Bassett.
Our aim is simple. We want you to make the choice that is right for you, with the full picture in front of you.
A measured view on melting
We understand that melting a watch can feel final, because it is. Once a watch has been melted, it cannot be brought back.
That's why we take care. We do not melt indiscriminately, and we would always rather see a special watch find a new owner than the furnace.
But we are also honest about the numbers. For some everyday gold watches, the gold really is worth more than the watch, and the seller deserves to know that.
Thinking of selling a gold watch?
If you have a gold watch and you're not sure what to do with it, we're happy to help. A clear, honest valuation costs you nothing, and you are free to decide once you have it.
You can visit us in person at our Royal Wootton Bassett or Bodmin branches, or use our efficient postal service. We've been buying gold across the UK since 2008, and we were the first precious metals company in the country to gain Trading Standards 'Buy With Confidence' accreditation, so you can deal with us knowing you're in safe hands.
