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Rhodium is one of the most precious metals in the world, recently selling at approximately 10 thousand dollars per ounce. Although prices fluctuate, a rule of thumb is that rhodium tends to be 10x as expensive as gold. But the rhodium is probably very thin. If the watch is rather old, the rhodium is probably a bit thicker than if it is new, but rhodium is so stressed that the plating cannot be really thick. The watch is probably worth more than the rhodium plating on it is worth.
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