Expert: Melvin Mills - 12/13/2011

Question
I inherited a Lady Elgin dress watch, simple round face with facet cuts surrounding the numbers.  The band is 14k gold, original and perfect condition and a solid one piece on either side of the face band.  the crown fell off and when I brought it to a jeweler he told me it needed to be cleaned, overhauled and several other repairs that would run me around $500.00.  My question is how necessary is this if I just want to wear this watch occasionally as a dress watch?  Would cleaning and overhauling make a significant difference in the value?

Answer
Ronnee

Over the long run, it will make a difference in the value.

If you have a car and you never have the oil changed just add to it when it gets low, you have dirty oil and that dirt is like sandpaper wearing away at the engine.

Same holds true for a watch.  If the parts are not lubricated, you have metal rubbing on metal.  That will wear out the parts sooner than necessary.  

Once the parts wear out, now you have a greater expense.  Parts are getting more scarce and with scarcity, prices go up even more.

If you only intend on wearing it as jewelry and don't wind it, then it won't matter.

Kind regards

Melvin