Just like diamonds, watches are included in the precious metal business. There are literally hundreds of thousands of watches in the market today. Most watches have no commercial value in the business of precious metals, however many do. A lot of watches contain some kind of precious metal within the mechanism and it is important to know how to identify the ones that do
Some watches, just like other pieces of jewelry, have value because of other reasons other than the precious metal contained within them. The characteristics that give worth to watches, besides the precious metal contained within can be, estate, age, system, watchmaker, limited edition pieces, special mechanisms, brands, history and much more.
When starting a precious metal or scrap gold business, it is very important to form a relationship with a trusted and reputable watch maker or watch dealer. Like any other business, one must be up-to-date in all aspects of the business by reading articles and continue studying the subject until acquiring enough knowledge to be able to make decisions.