Community Stories

1929 Hamilton Piping Rock

Location: US TFA SOLD 
$ 2200 USD
Contact seller
Waltesefalcon
Posts
4,213
Likes
12,177
I have decided that it is time to part with one of my Piping Rocks. This one was made in 1929, and is powered by the venerable 979-F mov't. I had this watch serviced professionally in 2023 by Ted Tongson in Sherman Texas. I also located a set of NOS spring bars when it was serviced, if you have ever looked for good female spring bars, you know that it is tricky. It runs and keeps excellent time. I did not have the case polished and there is some evidence of tarnish on the 14k case. I am asking $1800 + shipping.
20231013_141139.webp 20260512_141154.webp 20260512_141035.webp 20260512_141058.webp
Edited:
 
Vanallard
Posts
1,579
Likes
5,368
Waltesefalcon Waltesefalcon
Sold on Ebay for $2200.
I think you did well selling it for $2200. Good examples of piping rocks can still be picked up in the $1500 range.
 
Waltesefalcon
Posts
4,213
Likes
12,177
Vanallard Vanallard
I think you did well selling it for $2200. Good examples of piping rocks can still be picked up in the $1500 range.
This time last year I would have heartily agreed with you. Right now, $1500 is below the melt value. I weighed the case on mine and it came in at 0.66 ozt, which at today's rate is $1605.

I will realize just over $1900 after Ebay takes their slice, which I do think is a fair price. It isn't as great a deal for the buyer, sadly; after taxes he wound up paying $2400.

I think I would have rather seen it go to a member of the OF for $1800 because both I and the buyer would have gotten an equitable deal.
 
Vanallard
Posts
1,579
Likes
5,368
Gold prices have dropped considerably over the last ~6 months. A reputable gold buyer in Vancouver pays about $70USD/g for 14k gold, which I presume is consistent with what gold buyers are paying across other N. American markets.

A case weight of 18g, which I presume includes the enameled bezel and glass crystal, equates to a scrap gold value of about $1250.

I primarily connect vintage Hamilton watches and am surprised that some iconic models like the Piping Rock don’t command much of a premium over the scrap gold value. A Coronado recently sold at an European auction for 850€ (plus premiums) 🫨
 
Waltesefalcon
Posts
4,213
Likes
12,177
Vanallard Vanallard
Gold prices have dropped considerably over the last ~6 months. A reputable gold buyer in Vancouver pays about $70USD/g for 14k gold, which I presume is consistent with what gold buyers are paying across other N. American markets.

A case weight of 18g, which I presume includes the enameled bezel and glass crystal, equates to a scrap gold value of about $1250.

I primarily connect vintage Hamilton watches and am surprised that some iconic models like the Piping Rock don’t command much of a premium over the scrap gold value. A Coronado recently sold at an European auction for 850€ (plus premiums) 🫨
Gold has come down but it is still too high, in my opinion.

This watch's case weighs in at 20.5 grams at $70USD that is $1435, which is a bit lower than the melt value, but does seem to be what a gold buyer would pay so he could squeeze every bit of profit out.

Which is a crying shame, the Coronado is a special watch.
Edited:
 
Contact seller