Why are some owners melting their vintage luxury watches?

Surging gold prices are prompting some owners to melt vintage luxury watches, as the value of the gold inside now exceeds their resale price, Reuters reported. Mid-priced models from Omega and TAG Heuer are more vulnerable than high-end Rolex and Patek Philippe watches. The gold in an Omega Constellation was worth about ₹7.3 lakh, 30% above its estimated auction value.