Featured 14kt Gold Elgin pocket watch - to repair or not to repair?

Any opinions on whether it is worth investing in fixing a lovely pocket watch to sell, or simply selling as is?

I don't know much about watches, and I'm not sure how large the price difference is between those that are working and those that aren't. The watch in question is a 1903 Elgin with a hunter case in 14kt gold (not fill). Helping out a friend who really needs to get as much as he can out of it, so we're trying to figure out the best option.

Attaching a pic just because it's pretty.

 

If the case is gold, it is worth more than the watch. Let's see the marks.

 

I find myself in agreement with Terry .... & while the 15 jewel movement is nice...Fixing will cost money......so unless there's something else about this watch that stands out among the 1000's they made........pop the movement...sell it for parts...and sell the gold for it's weight !

 

You'd need to pop the movement out (unless you can establish the weight of that exact movement some other way) to get the gold weight. The gold value will determine the price. Cost of repair depends on what is wrong with it, but I think all collectors would prefer to sort out any repairs themselves, if they can't fix it personally they usually know a trusted craftsman whose prices are acceptable. Establishing just what the problem is would be useful, though.

It is a decent but not remarkable movement so desirability would probably not be enough to justify tying up $600 to $800 in gold.

Fully working and in good condition, there is a modest demand from those few folk who still wear a suit and waistcoat to formal occasions, and want a bit of bling, but finding them can be tricky. In a gold filled case in good condition it would probably fetch $100, but getting that amount over the gold value might not be worth the time and trouble. People who are willing and able to pay for gold cased watches usually know they have the seller over a barrel so will not be very generous about the price.

It's a shame, but that's the way it is.

 

It's a shame if you sell it for its gold only. More info would be appreciated. What size is it? What does the front and back look like? How much wear is there? Gross weight? Check out prices on ebay (sold category, not ongoing). Check with a repair man as to what the problem might be and get a repair estimate.

What I see from the single photo is a good, but not special, movement and can probably be easily be replaced.

 

Oh, and lets see the face.

 

Wow! Thank you so much for all of the information - this is a tremendous help! And sorry for the delayed response, the estate has been quite a bit to sort through. I will try to get it by a repair shop this week, but it's sounding like the simplest thing is going to be to sell it for scrap (if it's not fill).

Here is the additional info:
weight 1.3oz
diameter 1.25"

 

too bad it looks like a family heirloom....but also like an average elgin....

 

It is, but sadly no one in the family recognized the initials!

 

The relatively small size tends to condemn it to scrap, the small market for solid gold watches wants men's full size watches, to wear or collect, ladies smaller size watches have little favour.
My original estimate of the gold value was based on a mans watch, this one would be much lighter, possibly 15 grams of gold, maybe $300. (Very rough estimate)

 

I agree but first find get the info from the repair shop before you decide which way to go. It looks pristine and unused and may just need a cleaning.

 

Thanks all! I'll let you know what I find out this week!

 

Final update:
It could be repaired, but it was going to cost $300. Gifted the mechanism to the watch repair guy for parts and sold the case for the gold.
Thanks again for all of the help!

 

as we suspected............... but..good for you !!

 

Did the repairer say what was wrong with it, to justify that kind of charge? It sounds like a 'Go away and don't bother me' quote to me.

 

He is reputable. He said it hadn't been serviced or used in decades and would need to be taken apart, cleaned, lubricated, etc.

TBH even at a lower quote it was not really going to be worth it to my friend - he is just trying to raise money for his uncle's care and the piece had no sentimental value to the family.

 

• He is charging over $100 per hour. Nice work if you can get it. If there is nothing actually wrong with it, no broken spring or broken balance staff, carry it round in a trouser pocket for a day, this warms it through and may start it running from the erratic motion..
• Pull it out of your pocket and applying a little pressure in a 'winding up' direction to the winder, hold the watch face down with the back open (to see the results) and twist the watch in a horizontal plane so the balance swings. It may well tick a few times, or even keep running. It may just keep running till you take the pressure off the winder, but you will be getting there. This needs a bit of patience, you may have to keep some pressure on the winder for half an hour before it is willing to run on its own.

This sounds like old wives tale type nonsense, but there is a good reason why it often works.
The spring in its barrel is slightly oily, as are the pivots. The best watch oil in the world can dry and become sticky in decates of inaction, but if the watch can be run down just a little bit, the spring comes unstuck and starts to do its job. Letting it run down and rewinding it a few times will probably see it remaining workable for years if it gets a bit of exercise now and then. Watch and clock collectors may not have everything working all the time, but everything gets a wind up now and again for keeping things free.

The reason you need to apply a little pressure to the winder is as a substitute for the pressure the spring should be exerting and is not. Your pressure is transferred all through the train to the escape wheel and balance as if there were no spring, which is why you get a period of ticking as long as you maintain the pressure.

This assumes there is nothing but neglect wrong with it. Worth a try, I'd say. You cannot actually harm it this way. Like all things there are tricks of the trade to make things easier. And a lot cheaper. If it works at least the old watch can have a last run before being scrapped.

 

Gifted the mechanism to the watch repair guy for parts and sold the case for the gold.........................
kinda a done deal...

 

Well, the information is generally applicable to most watches, wrist and pocket. and worth a try before spending what I consider a huge amount of money on a simple cleaning.

Sometimes that expensive clean is no more than a dip in an ultrasonic tank.