An apparatus for separating and recovering the components of an alloy, particularly a noble alloy, including a high vacuum chamber housing at least one crucible for the alloy to be separated; at least one heating element arranged, during use, around the crucible; at least one condensation device, which faces, during use, an upper mouth of the crucible. The particularity of the present invention resides in that the condensation device includes at least one cold element and at least one deflector that is adapted to divert the flow of the aeriform substances derived from the melting and evaporation of the alloy toward the cold element. The invention also relates to a process for separating and recovering the components of an alloy, particularly a noble alloy.