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18k vintage omega fake?

C
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Hello Again!

I have a question about a watch that a jeweler is offering to me. At least for what I understand the watch can’t be 18k solid gold by its weight (he claims 7,1grams of gold) something doesn’t add up. Photos are bad quality because I didn’t take them. He assured me he did the acid test but something smells fishy. I will post the photos and hope to save me the long trip to this place 😂. Thanks in advance.

IMG_4954.webp IMG_4955.webp IMG_4956.webp IMG_4947.webp
 
noelekal
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Only a guess, but this appears to be an old re-dial, post war 1940s Omega in a contract South American case. Th photographs are far too poor and indistinct to be certain about any features of the watch.

The experts will be along soon to shed more light on the watch.
 
Dan S
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The caseback doesn't look right to me for an Omega from that era. I'm thinking maybe a repainted dial re-cased in some other case. There appears to be a heavy brass movement holder, so maybe the jeweler is being honest about the small amount of gold. Personally, I'd have no interest in this watch.
 
Joe K.
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Movement is Omega. Dial difficult to determine with the low quality picture. Case is not likely original. Might be 18K but it looks like it is very thin and the movement is sitting in a base metal spacer. SImilar to the case designs on the Chronograph Suisse watches.
 
JimInOz
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As above. Most likely a locally cased Omega. Where is the watch located?
 
C
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Dan S Dan S
The caseback doesn't look right to me for an Omega from that era. I'm thinking maybe a repainted dial re-cased in some other case. There appears to be a heavy brass movement holder, so maybe the jeweler is being honest about the small amount of gold. Personally, I'd have no interest in this watch.
Thanks for the answer! Yes i noticed the redial but if it was all original 18k gold case with the right movement maybe it was worth it. He is asking 1k usd but with all this info im not even going to see it.
 
C
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JimInOz JimInOz
As above. Most likely a locally cased Omega. Where is the watch located?
It’s located in Argentina. The photos are really bad quality. I suppose that the only gold the watch has is the back case? Idk it looks like a frankenwatch….
 
C
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He also offered me this watch for 1700 usd. He said has 13grams of gold. I am looking for a good purchase. If this doesn’t match for you I will pass. I’m getting an omega seamaster 2262.50 for my collection from another seller and wanted to buy one of this to sell. Just if it is worth it.

IMG_4960.webp IMG_4961.webp IMG_4962.webp
 
Davidt
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Are you just interested in the gold? Why not buy some gold coins for slightly above spot price?

I assume the jeweller isn’t going to get the gold content wrong so unless it’s a watch you are interested in, what’s the point in chasing watches just for their gold ten tent when they have a significant premium. Some of the gold cases have hollow areas such as the lugs, making them extremely light. I assume that is the case with the first watch.
 
Dan S
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C Calibre88
I’m getting an omega seamaster 2262.50 for my collection from another seller and wanted to buy one of this to sell. Just if it is worth it.
So you are asking us if you can make a profit by flipping these watches? Unlikely. You are considering undesirable watches from a jeweler. The main value is in the gold, and he knows the value of the gold. This is the least likely way to make a profit.
 
ErichKeane
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Davidt Davidt
Are you just interested in the gold? Why not buy some gold coins for slightly above spot price?

I assume the jeweller isn’t going to get the gold content wrong so unless it’s a watch you are interested in, what’s the point in chasing watches just for their gold ten tent when they have a significant premium. Some of the gold cases have hollow areas such as the lugs, making them extremely light. I assume that is the case with the first watch.
IMO, there is money to be made on (some)gold cased watches of a good manufacturer if you're willing to put the work into it. IF you can get it for not much more than gold-price, you can do decent parting it out.

For example, the top OP one has a 265 movement, which you can sell for ~$200. Dial/hands are effectively worthless, so if you can get it for spot price, you can pull the movement and with a few months on ebay, get $200 for it.

BUT: 1: You'd have to be VERY sure that the jeweler isn't over-estimating how much gold is in it. How did they weigh the case? Unless they pulled the movement + crystal/etc, any weighing they do is going to over-estimate the amount of the gold (and you KNOW for sure they aren't under-estimating themselves). Additionally, gold in a non-bar form doesn't get the 'spot' price. Jewelers are going to pay you 10-20% less. So unless you can get a bunch of them and melt them, the additional money from the movement is going to be cut by that.

So in the end: you COULD make money on it, IF you are willing to do the work to know exactly how much gold is in it, IF you can pull the movement and wait a few months for it to sell on Ebay, then melt your own gold and find someone to buy at market rates. All for ~$200 max gross-profit.

OR you could just do what OP's jeweler is doing, and find some sucker who will believe a high estimate of gold, and believe they can do all that work to make a little bit of money. In the end, you have to ask yourself: If you could make money this way, why didn't the jeweler (who has MUCH better equipment for this sort of thing) do it himself?
 
Davidt
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ErichKeane ErichKeane
IMO, there is money to be made on (some)gold cased watches of a good manufacturer if you're willing to put the work into it. IF you can get it for not much more than gold-price, you can do decent parting it out.

For example, the top OP one has a 265 movement, which you can sell for ~$200. Dial/hands are effectively worthless, so if you can get it for spot price, you can pull the movement and with a few months on ebay, get $200 for it.

BUT: 1: You'd have to be VERY sure that the jeweler isn't over-estimating how much gold is in it. How did they weigh the case? Unless they pulled the movement + crystal/etc, any weighing they do is going to over-estimate the amount of the gold (and you KNOW for sure they aren't under-estimating themselves). Additionally, gold in a non-bar form doesn't get the 'spot' price. Jewelers are going to pay you 10-20% less. So unless you can get a bunch of them and melt them, the additional money from the movement is going to be cut by that.

So in the end: you COULD make money on it, IF you are willing to do the work to know exactly how much gold is in it, IF you can pull the movement and wait a few months for it to sell on Ebay, then melt your own gold and find someone to buy at market rates. All for ~$200 max gross-profit.

OR you could just do what OP's jeweler is doing, and find some sucker who will believe a high estimate of gold, and believe they can do all that work to make a little bit of money. In the end, you have to ask yourself: If you could make money this way, why didn't the jeweler (who has MUCH better equipment for this sort of thing) do it himself?

Agree but I don’t think the OP watches are good value. I can’t see a price for the first watch but the second is worth around $1400 in gold and they’re asking 1700 so even if scrapping the case and parting out the movement, there’s no value there. The prices are about what you’d expect from a jeweller who paid just below scrap and is now selling at 20% over spot.
 
ErichKeane
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Davidt Davidt
Agree but I don’t think the OP watches are good value. I can’t see a price for the first watch but the second is worth around $1400 in gold and they’re asking 1700 so even if scrapping the case and parting out the movement, there’s no value there. The prices are about what you’d expect from a jeweller who paid just below scrap and is now selling at 20% over spot.
Oh, absolutely agree on that one. I was more pointing out, that even in a perfect world, making money on these is possible but difficult unless you REALLY know what you're doing, can find a great deal AND are willing to wait a while to sell the movement. But even gold bars best you can usually do is ~98% of 'spot' price when selling.

Non-bars you can expect anywhere from 50-90% depending on where you go and how much you have. So even paying 'spot price of gold weight' for the watch is going to make a VERY difficult time making money.
 
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