Many of us have some gold or silver in our possession that we might be willing to sell, but still haven’t quite made the commitment yet. Why is this? Well, for one, many people have a reluctance to part with old possessions – even if the watches are not working or need extensive repair, as might be the case with an older watch.

But another reason we might not be willing to part with some of these not-so-necessary possessions is that we simply don’t know how to go about selling them. “Someday,” we might say to ourselves, “I’ll really dig in and find out how to sell that old thing.”

Why can’t that day be today? In this article, you’ll learn some key strategies and tips for taking the gold out of your watch and turning it into cash. When you’re done, you’ll be able to confidently work with precious metal brokers and let them make a fair offer for the precious metals you can offer them.

First things first: What kind of watch do you have?

If you’re going to take the gold out of your watch, it goes without saying that you need to have a gold watch. Right? Not necessarily. If you have a watch with silver, platinum, or even diamonds present in it, you can still sell these to a precious metal broker and find yourself coming away with a nice, quick profit. Even if your old watch doesn’t shine with the familiar yellow glow of gold, you might still be able to get some golden opportunities out of it.

Which watch(es) are you willing to part with? Do you have a gold watch that you received as a gift, but no longer functions? Do you have an old antique that doesn’t have a lot of sentimental value to anyone you know? Then you have something you can part with on your hands.

Another question to ask yourself is whether or not your old, broken watch is worth re-finishing or repairing. Do you want to sink more money into the watch just to have it tick again, or do you think it might do you more good if someone was willing to buy it?

You start taking the gold from your watch when you realize you don’t really need the gold or silver watch sitting in the jewelry box all day. Discover what you’re willing to part with, and then you’re ready to move on.

The different options available to you

When you’re selling a watch, it might seem obvious that you’ll want to either have the whole thing repaired, or sell the whole thing. But is this really the case? Here are some options for different situations you’ll encounter.

Repair the thing.

One way to really extract some value from your watch is actually to sink a little money back into it. If you have a watch that you think might sell well to a private bidder or at an auction, have someone make an estimate of the watch’s value. Then, if the investment makes sense, sink some money into having it repaired. From there, you can sell the watch as a full, working watch again.

Sell the whole thing.

You could sell the whole watch to a precious metal broker, earning yourself a quick little treasure trove of cash. This is a great option, and a broker will be able to recycle the precious metals like silver and gold present in the watch. But it’s not the only option, especially if you don’t want to part with the clock itself.

Sell just part of the watch.

Sure, you can sell the watch, but what if it’s a family heirloom? You’re conflicted by the need for some quick cash and the need to keep the watch around. Here’s an option you might not have considered: take the gold or silver band off of the clock itself, and simply sell that part of the watch. You can always re-band the watch later.

This is also a great option if only the band on the watch is broken, since precious metal brokers doesn’t mind if you’re selling them broken metal, so long as there’s metal present. You can use the money this provides you to perhaps buy a new leather band, or even a more comfortable elastic band.

Get started today

Whatever you do, start a plan of action today so that your watch isn’t wasting its time keeping abilities by sitting in your safe or jewelry box. If you really do have a silver, gold, or platinum watch that you never use, consider getting some value out of it. You might find that you can take the gold from your watch and still keep the clock.