Non-original gold case back?

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What do you think about this watch that’s being sold near me? I believe it’s a reference 135.041. The case back is not original and appears to be gold. Which could be the value?

 
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My guess would be a South American contract case.
 
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I got the same kind of case back on my Geneve, its just price less.
 
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Price?
Gold melt plus $100 for dial and movement at most.

Any more and you are overpaying.
gatorcpa
 
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Ok, thanks for the comments. In the end, the watch was sold to someone else. The asking price seemed very low to me, around $400 USD, so I hope I did the right thing by not jumping in.
 
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Gold melt plus $100 for dial and movement at most.

Any more and you are overpaying.
gatorcpa

I must say movement prices are on the rise and I find it hard to find manual wind movements in good asthetic and running condition for under €180-€200, with asking prices higher. More for automatics.
 
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I must say movement prices are on the rise and I find it hard to find manual wind movements in good asthetic and running condition for under €180-€200, with asking prices higher. More for automatics.
I've definitely seen that too but over the last couple of months the number of listings of movements has increased a lot since gold hit 4000 USD/oz, probably because those higher movement prices were factored into the melting equation.

As those movement sit without selling its hopefully going to put some downward pressure on prices, I've even seen a guy with some movement listings and 3-5 remaining, so not just 1 listing but 3-5 of a given movement for sale.
 
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Ok, thanks for the comments. In the end, the watch was sold to someone else. The asking price seemed very low to me, around $400 USD, so I hope I did the right thing by not jumping in.
If legit 18k, the scrap value would be more than $400.
 
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If legit 18k, the scrap value would be more than $400.
I'm sure it is above $400, but I'm trying to remember, some of these South American contract cases were a weird situation where they had almost like a base-metal skeleton or something inside of them to reduce the gold content. It might have just been South American cases for Lemania international or for certain countries, and I don't think I've seen it mentioned in relation to models like this but it's sparked my curiosity.
 
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I'm sure it is above $400, but I'm trying to remember, some of these South American contract cases were a weird situation where they had almost like a base-metal skeleton or something inside of them to reduce the gold content. It might have just been South American cases for Lemania international or for certain countries, and I don't think I've seen it mentioned in relation to models like this but it's sparked my curiosity.
Interesting.