Watching history happen

 

The queue is massive, spiralling around the block. Photo taken 15 minutes ago. And no, they are not waiting for a Rolex shop to open. As predicted a few weeks ago: the bubble has arrived — the big, beautiful bubble called the run on gold merchants. An onlooker unfamiliar with the situation might wonder: what are all these people lining up for? To sell their gold and take advantage of high prices? To buy more, fearing that money will soon be worthless? Yes, a few are queueing for those reasons. But the vast majority are simply desperate to collect actual gold — to convert an “I owe you” piece of paper into real, physical metal. The frenzy and the urgency? Simple: there’s far more paper, more promissory notes, more contracts, than there is actual gold in the entire world. And as the price of gold continues to bubble, there will be more demand, more pressure — until the pressure cooker finally blows its lid, and Lima beans hit the ceiling fan. Back in June 2015, when a batch of twenty Rebelde 18k gold watches was delivered to Rebelde ambassadors, history was made. The first steel model had been released only 13 months earlier — and it was the first time in Australia that a microbrand, still in its infancy, released massive 18k yellow and rose gold watches. And massive they were: 135-gram monsters — not hollowed-out or gold-clad cases, not cheaply cast, but thick, heavy, solid-gold, three-piece machined cases. The retail price was $13,980. Today, those 18k Rebelde watches are worth twice that. And their value is not set by me, or by Chrono24, or an auction house, or a group of cashed-up collectors who worship microbrands. That’s the price any gold merchant — anywhere in the world, from Mumbai to Moscow, Hong Kong to Johannesburg, or Buenos Aires — would pay for my watch. Not because they value my horological genius, my name, or the “Australian brand.” For that, they couldn’t care less. They pay for the gold itself. To my ambassadors who invested wisely in Rebelde: well done — you’ve doubled your money. Plus, you’re wearing a watch of genuine horological significance. You were backers of a project that will never be repeated — or at least not in the next decade — by any Australian microbrand. When someone once asked, “Why would anyone invest in a gold Rebelde?” I answered in a blog post — more than 10 years ago. Today, that answer has been fully validated — and it’s as relevant as ever. What a journey! https://nickhacko.blogspot.com/2015/06/a-post-in-forum.html I promised, and I delivered. Handsomely. Smartly. And much faster than anyone could have anticipated. Myself included.

Down the Rabbit Hole of Gold

 

Over the past few days, a number of subscribers have reached out wanting to sell their gold watches. With gold hitting an all-time high, this is hardly a surprise. In fact, I'll probably be doing the same myself in the near future. First of all, we're talking about scrap gold, not your shiny Rolex Presidents. Scrap gold comes from broken watches, bracelets, links, and jewellery - sent to a refiner to be melted down and reused. And yes, now is the perfect time to turn junk into gold. However, the process of turning scrap into bullion is a bit tricky, to say the least. Having gone through this journey a number of times, I speak from experience. Basically, you have two options: Sell your scrap to businesses that buy scrap gold, or deal directly with a refinery. In the first case, the easiest way is to find a local buyer online, make an appointment, and show up with your scrap. The problem? They'll rip you off. You won't get anywhere near what an online gold scrap calculator might estimate. The price they pay is significantly lower than the gold spot price. They'll also complain about all sorts of things - purity, carat, content - all being "unknown" or "too risky." But you'll walk away with cash in hand. Dealing with refiners directly comes with its own challenges. The most obvious one: as wholesale businesses, they're primarily interested in large quantities of scrap metal. One broken watch and a couple of earrings aren't worth their trouble. There are also numerous "fixed costs" associated with refining. The assay fee - a charge to test and determine the purity of your gold - can be either a flat rate or a percentage of the total value. Some refineries waive assay fees for large quantities, while others charge for incoming weight, retention, and handling, in addition to the assay itself. Then there's the refining time. It can take weeks to get your 24K gold back. But what really makes me nervous is the downright dodginess of the process. You're expected to place complete trust in the refiner, while having no leverage or oversight whatsoever. You leave your scrap - and whatever comes out of it is what it is. For example, the common procedure is to have your scrap pre-sorted (9K, 14K, 18K, 24K), weighed, and recorded, then weighed again at the refinery. However, the last time I handed over my metal, I was simply asked to leave it behind - to be weighed later - because, apparently, "the scales weren't working." And I did. There's no point arguing with a refiner. It's a take-it-or-leave-it deal. The upside is that, at the end of the refining process, you'll receive a lump of pure 24K gold (plus some silver), and you'll have the option to sell it on the spot at the actual market rate, have it stored, or take physical possession. You'll also receive a proper receipt. To be fair, gold merchants and refiners are constant targets for forgers and crooks, so their lives aren't easy either. Dealing directly with them requires experience - and strong nerves. And yes, they're all the same. Of course, if you have an 18K gold watch you'd like to sell for scrap, or any fine modern or vintage piece similar to our current stock, feel free to reach out. I'll be happy to make you an offer upon inspection.

But then again, selling any watch for its metal value feels almost sacrilegious. Take, for instance, this 1920s gold pocket watch - broken, missing parts, far beyond restoration. And yet, on its weary case back, a tender engraving remains: two birds hovering over a nest, guarding a single egg. The message could not be more heartfelt - a young family, full of hope, awaiting new life. One can almost imagine it: a father-in-law's gift, his blessing engraved in gold. So, to scrap it, or not? You tell me.

Important – Please Read

 

Especially if you are new to watch collecting. Sydney Watches Pty Ltd is a licensed second-hand dealer. We buy and sell preowned watches. Yes, many of them are in like-new condition, and some even still unwrapped, but technically and legally, they are all second-hand goods. If you are an existing customer or a long-time subscriber, you already know how proud I am of what I do. Finding fine preowned stock at the right price is extremely difficult. My service to watch collectors is highly valued, and over the past 30 years, I’ve sold more than 10,000 high-grade preowned watches. That is actually a conservative estimate. The bottom line is simple: I know what I’m doing, I’ve been doing it for decades, and I’m happy to continue selling second-hand watches. All watches offered are 100% genuine. Selling replicas or fake watches is illegal in Australia—and even if it weren’t, I would never sell fakes.   A common question: How old is the watch? Before I answer, let me make one important point: to me, age is almost irrelevant. What truly matters is condition. A five-year-old watch in unworn, like-new condition is worth more than a one-year-old watch that has been heavily worn. However, to a novice collector—or especially to a first-time buyer—this may not be obvious. It’s natural to focus on age: the newer, the better. Most buyers are happy to learn otherwise, and after a bit of “education” and a few examples, their focus shifts to condition. However, some buyers remain fixated on age, and age only. If that’s you, you’ll be better off buying a brand-new watch from an authorised dealer. Nothing beats a brand-new watch.   Determining the age of a preowned watch The only reliable and legally valid way to determine the age of a preowned watch is by referring to the date of sale recorded on the warranty card—filled in by the manufacturer or authorised dealer. In reality, watches on the preowned market typically fall into one of three categories: Watch only – no warranty card or receipt/invoice (“no papers”). Watch with warranty card – but no date of sale recorded (“open papers”). Watch with warranty card and date of sale recorded (“with papers”). Here is an example open papers warranty and one showing the actual date of sale:

In the first two cases, it’s not possible to determine the exact age of the watch. Instead, I provide an estimate based on several factors. In such cases, we usually refer to the watch as being manufactured within a certain period—often a span of 5–10 years or a decade—rather than in a specific year.   1. Should you buy a watch with no papers? That’s entirely up to you. Often, a watch without papers is cheaper than an identical model with papers. Booklets, warranty cards, invoices, and valuations are often stored separately from the watch—and sometimes they’re simply lost, discarded, or “safely stored” and never found again. For most buyers, papers are far less important than overall condition. 2. Watches with open papers Watches with open papers (no date of sale recorded) are less common today than they were 10 or 20 years ago, but many are still in circulation. In the past, authorised dealers were often willing to leave the date blank at the customer’s request. I’ve seen open papers from Rolex, Omega, IWC and Cartier—you name it—and there’s absolutely nothing wrong with that.

3. Watches with papers and factory warranty A common question: How much of the manufacturer’s warranty is left? For example: if Omega offers a 5-year warranty on a new watch, and the watch is now 2 years old, is it still covered for another 3 years? The honest answer: I don’t know—and I don’t care. Remember, I am a second-hand dealer. I provide my own 1-year warranty on all watches I sell. I don’t represent Omega, and I can’t guarantee whether they will honour their international warranty obligation in cases of transferred ownership. If they do—fantastic. If they don’t—then perhaps you should buy a brand-new watch directly from Omega instead of a preowned one.

In conclusion, you can’t have your cake and eat it too. New watches: full price, full factory warranty. Preowned watches: savings, one-year dealer warranty.

One micro step in time

 

The 76th International Astronautical Congress is being held in Sydney from the 29th of September to the 3rd of October 2025, with thousands of delegates from around 100 nations expected. This prestigious event brings together the world’s space community to explore the latest advancements and trends, academic research, industry connections, and partnership opportunities. And yes, NH Micro is there - proudly representing Australian home-grown engineering and manufacturing. While NH Micro is certainly the smallest of all exhibitors, we’re already making waves with the fact that we have numerous parts in space. Nearly all of the coolest space projects we are involved in are kept under tight NDA's, but we can say that NH Micro hardware is orbiting above you at any given time, in any given location on earth!

Today, we need your support more than ever. Participating in an event of this magnitude is a significant investment for a micro-business. To help offset some of the costs, we’re running a special promotion on a Seiko, offered at an amazing reduced price. We’ll also include an NH Micro mug, signed by our small team - a win-win deal, heavily skewed in your favour. We’re excited! Join us and let’s celebrate together.

Seiko Prospex Save the Ocean Special Edition SPB301J 42.7mm case size. Stainless steel case and bracelet. White dial. Sapphire crystal. Date window at 3 o'clock. Automatic movement - calibre 6R35. 70 hours power reserve. Water resistance 200 metres.  Boutique price $2,100 Your price $1,200  + a signed NH Micro mug!