Morris and Watson

What Morris and Watson does

Morris and Watson is a fourth-generation family business founded in 1928 in Auckland, New Zealand, specializing in precious metals for the jewellery industry. The company operates as one of only a handful of true primary refiners in Australasia and the largest refiner in New Zealand, with 120+ staff across five offices in New Zealand (Auckland, Christchurch), Australia (Brisbane, Sydney), and Thailand (Bangkok). Its core offering spans five interconnected service lines: precious metal refining (lemel, sweeps, and scrap processing for gold, silver, platinum, and palladium); bullion sales (99.99% gold and 99.9% silver cast bars); jewellery casting services utilizing 3D printing, CAD design, and lost wax casting; fabrication of semi-finished metals (wire, sheet, strip, solder, granules, master alloys); and chain manufacturing via Australasia's largest machine-manufactured chain department. The Thailand facility provides finishing services including polishing, stone setting, laser engraving, and plating.

The company's underlying technology combines traditional metallurgical processes with modern instrumentation. Its on-site assay laboratory uses fire assay by fusion and cupellation combined with Atomic Absorption Spectrometry and ICP-OES to verify precious metal content, with XRF used for pre-screening. Manufacturing capabilities include in-house 3D wax and resin printing for jewellery models, CAD design services, and automated chain production with over 20 years of experience. The company holds RJC (Responsible Jewellery Council) certification and adheres to ISO certified assay procedures, with AUSTRAC AML/CTF compliance for Australian bullion transactions.

Morris and Watson generates revenue through a diversified model including professional services (refining fees, treatment charges, casting services) and product sales (bullion, fabricated metals, chain, finished bangles). Pricing is primarily per-gram based with assay fees per job for refining, and daily-fluctuating market prices for bullion. The go-to-market is B2B-focused, serving manufacturing jewellers, large retailers, boutique jewellers, hobbyists, and individual bullion investors through direct sales offices, an online ordering portal, and a network of preferred wholesale partners for sub-minimum orders. The company is privately held with no institutional investment, operating as an independent family enterprise with David Morris serving as CEO.

Name

Morris and Watson

Legal name

Morris and Watson Limited

Website

https://morrisandwatson.com

Company type

Private

Founded year

1928

Operating status

Operating

Headcount range

51–100 employees

Short description

Morris and Watson is a fourth-generation family-owned precious metals business founded in 1928, operating as one of Australasia's largest primary refiners. The company provides refining, bullion trading, fabrication, casting, and chain manufacturing services to jewellery manufacturers, retailers, and investors across New Zealand, Australia, and Thailand.

Ownership category

akta.pro rank

Product category

Precious Metals Refining and Fabrication

NAICS

Nonferrous Metal (except Aluminum) Smelting and Refining (33141), Jewelry and Silverware Manufacturing (33991), Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers (42394)

SIC

Primary Smelting & Refining Of Nonferrous Metals (3330), Jewelry, Precious Metal (3911), Wholesale-Jewelry, Watches, Precious Stones & Metals (5094)

akta.pro industry

PRIMARYIMAKAEAE

Precious Metals Smelting & Refining

Industrials, Manufacturing & Construction/Metals & Mining/Precious Metals Mining & Refining (Gold, Silver, Platinum Group)

SECONDARYIMAKAEAJ

Precious Metals Minting & Bullion Products

Industrials, Manufacturing & Construction/Metals & Mining/Precious Metals Mining & Refining (Gold, Silver, Platinum Group)

SECONDARYIMAKAEAG

Precious Metals Recycling & Urban Mining (E-waste, Catalysts, Jewelry Scrap)

Industrials, Manufacturing & Construction/Metals & Mining/Precious Metals Mining & Refining (Gold, Silver, Platinum Group)

SECONDARYCRAKAIAE

Chains & Wire Manufacturing

Consumer Products & Retail/Jewelry, Watches & Luxury Accessories/Jewelry Manufacturing & Private Label

SECONDARYCRAKAAAL

Fine Jewelry Wholesale & Trading

Consumer Products & Retail/Jewelry, Watches & Luxury Accessories/Fine Jewelry (Precious Metals & Gemstones)

Keywords

• Precious metals refining
• Jewellery chain manufacturing
• Gold silver bullion
• Metal fabrication alloys
• Jewellery casting services

Headquarters

HQ city

Auckland

HQ country

New Zealand

HQ region

Oceania

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Precious Metal Refining: Primary refining services for gold, silver, platinum and palladium from lemel, sweeps, scrap jewellery, alluvial gold, and other precious metal sources. Charges include assay (analysis) fees and treatment fees. Processing times vary from 5-15 working days.
2. Bullion Sales: Sale of cast and minted gold (99.99% purity) and silver (99.9% purity) bullion bars and coins. Prices fluctuate daily and are locked in at order placement. Payment required within 24 hours.
3. Fabricated Metals: Sale of fabricated precious metal products including square wire, round wire, bangle wire, half round wire, granules, plate, sheet, strip, solder, master alloys, chenier, tube, and laser wire in various gold, silver, platinum and palladium alloys.
4. Jewellery Casting Services: Complete casting services including 3D printing, CAD design, wax injection, mould creation, and casting in various alloys. Processing times from 5-10 working days depending on complexity.
5. Chain Manufacturing: Machine-made and hand-made chain products in gold, silver and platinum. Minimum order requirements apply (150g gold per style, 1000g silver per style). Available in multiple chain styles.
6. Finished Bangles: Custom-manufactured finished bangles crafted to specifications in a range of alloys, sizes and profiles, ready for sale. Only available to jewellery trade customers.
7. Finishing Services (Thailand): Design, manufacturing and finishing services including CAD design, 3D scanning, wax carving, casting, filing, laser welding, polishing, stone sourcing and cutting, stone setting, laser engraving, and plating.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Morris and Watson refines precious metals (gold, silver, platinum, palladium) from jewellery industry scrap and ore, and manufactures and sells bullion bars, fabricated metals, cast jewellery components, finished bangles, and machine-made and hand-made chain to the jewellery trade. The company operates its own assay laboratory and refinery, plus 3D printing, CAD design, casting, and finishing facilities across New Zealand, Australia, and Thailand.

Product overview

Morris and Watson is a fourth-generation family business offering a comprehensive suite of precious metal products and services for the jewellery industry. The portfolio centers on five interconnected service lines: (1) Bullion sales encompassing gold (99.99% purity) and silver (99.9% purity) cast bars; (2) Precious metal refining services including lemel, sweeps, and scrap processing using state-of-the-art assay and refining equipment; (3) Jewellery casting services utilizing 3D printing (wax/resin), CAD design, mould creation, and lost wax casting across gold, silver, platinum and palladium alloys; (4) Fabrication of semi-finished metals including round wire, square wire, bangle wire, half round wire, plate, sheet, strip, bezel, solder, granules, chenier, tube, laser wire, and master alloys; (5) Chain manufacturing (machine-made and hand-made) producing anchor, belcher, brill, cable, curb, figaro, singapore twist, and snake chains. Additional services include finishing (polishing, stone setting, plating, laser engraving) at their Thailand facility, gemstone removal, analytical/assay laboratory services, and online calculators for jewellers. The company operates refineries and manufacturing facilities in Auckland (NZ), Brisbane, Sydney (Australia), and Bangkok (Thailand), with over 120 staff serving hobbyists, boutique jewellers, manufacturing jewellers and large retailers.

Differentiator

Problem solved

Functional benefit

Products and services

• Precious Metal Refining Services
• Gold Bullion
• Silver Bullion
• Jewellery Casting Services
• 3D Printing Services
• CAD Design Services
• Jewellery Chain Manufacturing
• Fabricated Precious Metals
• Finished Bangles
• Finishing Services (Thailand)
• Analytical and Assay Services
• Gemstone Removal Service

Quantifiable outcome

• All batches are assayed for complete confidence in metal purity verification
• +1 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Twelve partnerships are on record, tiered minor and core.

• Auckland Rescue Helicopter TrustminorOthers · 1 January 1997Proud corporate sponsor since 1997. The Trust provides critical rescue services throughout the greater Auckland area.
• Responsible Jewellery Council (RJC)coreStrategic or Co-development PartnerCertified member of the RJC, committing to integrating ethical, human rights, social and environmental considerations into day-to-day operations, business planning activities and decision-making processes in accordance with the RJC Code of Practices Standard.
• Jewellers Association of AustraliacoreStrategic or Co-development PartnerSupporting member and proud sponsor of the Jewellers Association of Australia, offering high quality products to members and the best possible customer service.
• Jewellers & Watchmakers of New Zealand (JWNZ)coreStrategic or Co-development PartnerSupporting member since inception in 1983. Essential purpose is to promote and foster persons and businesses involved in the jewellery and watchmaking trade.
• Jewellery Industry Registration Board NZ (JIRB)minorStrategic or Co-development PartnerMember of the Jewellery Industry Registration Board New Zealand supporting industry standards and registration.
• Peka (Australia/New Zealand)minorChannel Partner/ Reseller/ DistributorPreferred wholesale partner for chain products. Contact: [email protected], www.peka.co.nz. Serves customers who don't meet minimum order requirements.
• W.A Dennis (New Zealand)minorChannel Partner/ Reseller/ DistributorPreferred wholesale partner for chain products. Contact: www.wadennis.co.nz. Serves customers who don't meet minimum order requirements.
• Jewellery Centre (Australia)minorChannel Partner/ Reseller/ DistributorPreferred wholesale partner for chain products in Australia. Contact: www.jewellerycentreaustralia.com. Serves customers who don't meet minimum order requirements.
• TK Jewellery (Australia)minorChannel Partner/ Reseller/ DistributorPreferred wholesale partner for chain products in Australia. Contact: [email protected]. Serves customers who don't meet minimum order requirements.
• Moreton Jewellery (New Zealand)minorChannel Partner/ Reseller/ DistributorPreferred wholesale partner for chain products in New Zealand. Contact: www.moretonjewellery.co.nz. Serves customers who don't meet minimum order requirements.
• TAFE QueenslandminorGTM or Marketing PartnerProud sponsor of TAFE Queensland annual Apprentice Awards, supporting upcoming apprentice jewellers through sponsorship of this important milestone in jeweller training.
• Koru CareminorOthersSupported organisation for children's charitable causes including Special Children's Christmas Party.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Goldenwest Refining: Smaller Australian precious metals refiner serving jewellers and scrap dealers. Comparable business model and customer base to M&W's refining arm but at smaller scale and primarily Australia-focused.
• Tanaka Kikinzoku Kogyo: Japan-based precious metals refiner and fabricator serving jewellery and industrial markets in Asia-Pacific. Comparable in precious metals refining and fabricated product offerings, primarily serving the Asian regional market.

Broad incumbents

• Heraeus Precious Metals: Global precious metals refiner and fabricator offering refining, bullion, and industrial precious metal products. Comparable in refining and fabrication capabilities but operates as a broad industrial conglomerate far larger than M&W.
• PAMP Suisse: Swiss-based LBMA-accredited precious metals refiner and one of the world's leading bullion bar producers. Comparable as a global primary refiner and bullion mint, though operating at vastly larger scale than M&W.
• Royal Canadian Mint: Canadian government-owned mint that refines precious metals and produces bullion coins and bars. Comparable as a primary refiner plus bullion producer, though much larger and government-affiliated.
• Argor-Heraeus: Swiss precious metals refiner and bar manufacturer providing refining services and LBMA-certified bullion bars. Directly comparable refining and bullion minting model, though serving a broader international customer base.
• Perth Mint: Australia's largest precious metals refinery and mint, producing legal-tender bullion coins and bars and offering refining services. Much larger incumbent that competes with M&W across bullion and refining in the Australasian market.
• Metalor Technologies: Swiss-based precious metals refiner producing bullion bars and supplying fabricated precious metal products to jewellery and industrial customers. Comparable in refining and fabricated alloys offering but at global scale.

Direct peers

• Australian Gold Refineries (AGR): Australian precious metals refiner offering gold and silver refining, assay services, and bullion products to the jewellery trade. Directly comparable as another Australasian primary refiner serving jewellers and scrap sellers.
• ABC Refinery: Sydney-based LBMA-accredited gold and silver refiner producing bullion bars and providing refining services to the Australian jewellery and investment market. Competes head-to-head with M&W in Australian refining.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/c/morrisandwatson
• Facebookfacebook.com/MorrisandWatson
• LinkedInlinkedin.com/company/morrisandwatson
• Instagraminstagram.com/morrisandwatson
• Xx.com/th_morris

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Morris and Watson