谁在熔掉宝珀与积家？金价狂飙下名表按克计价，“机芯当垃圾卖”

Core Viewpoint - The recent surge in gold prices has led to a dramatic increase in the liquidation of luxury gold watches, with many owners opting to melt them down for cash rather than sell them on the secondary market [2][4]. Group 1: Gold Price Surge - International gold prices have experienced a historic bull market since 2025, surpassing $3000 and $4000 per ounce, with an annual increase of over 60% [2]. - By early 2026, gold prices reached new highs, exceeding $5500 per ounce [3]. Group 2: Impact on Luxury Watches - The rise in gold prices has significantly altered the fate of luxury watches, with many being melted down for their gold content [3]. - Domestic gold prices have also risen, with some brands quoting as high as 1700 RMB per gram, marking a historical peak [4]. Group 3: Market Behavior and Trends - The trend of melting down luxury watches is reminiscent of past market behaviors during previous gold price surges, particularly in the 1970s and 1980s [4]. - Many second-tier luxury watch brands are more frequently being melted down compared to top-tier brands like Patek Philippe and Rolex, which maintain their value and liquidity [8]. Group 4: Cash Flow Considerations - Owners prefer melting watches for immediate cash flow, as selling on the secondary market can take months [9]. - The value of gold in a watch can constitute up to 80% of its total value, making melting a more attractive option for high-weight models [9]. Group 5: Changing Consumer Preferences - The younger generation is increasingly favoring smartwatches over traditional mechanical watches, leading to a decline in the social and status significance of luxury watches [14]. - This shift in consumer behavior is contributing to the depreciation of second and third-tier luxury gold watches in the secondary market, pushing them towards the fate of being melted down [16].