105.012-66 CB - Would you have rolled the dice?

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Stumbled across this 105.012-66CB on eBay last night. Beautiful sharp CB case with prominent facets, near perfect Don bezel, correct crown and pushers. One small detail - the movement has been destroyed by moisture ingress 😢. Dial is a crap shoot as it’s very difficult to tell if the moisture had an impact on it, but the lume plots and hands don’t look too bad.

I was tempted to take a shot on this to have the parts (I thought there was at least +\-$5000 USD in parts between the bezel, case, crown, and pushers). Resurrecting the 321 would be a challenge if I could even find a watch maker willing to take it on, not to mention sourcing all the parts. The auction sold while I was looking at the photos, so it was not meant to be.

Would you have rolled the dice on this piece?

https://ebay.us/m/WmxDLj


 
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I saw this when it was freshly posted. It’s only worth it if the dial is really nice, not rust damaged, and removable. Sometimes rust will seize the dial feet screws and that makes projects like this a headache. It needs a total movement swap IMHO to make sense (swap the serial bridge back in). In this case, the seller had a 30 day return window, so the risk wasn’t as bad and provides an opportunity to confirm the dial condition.

I decided it was not worth the hassle financially if you’re paying somebody to salvage this movement.
 
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I'll play. And yes, I would have bought this. As you mentioned, the case and bezel already bring a lot of value and as the hands seem to have survived alright, I'm pretty sure there's a very fair chance the dial has remained in reasonable condition too. Might be a little challenging to get it out as I would not be surprised if the dial screws are rusted too, but worth a shot. Honestly, I wish I would have spotted this listing in time.
 
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I'll play. And yes, I would have bought this. As you mentioned, the case and bezel already bring a lot of value and as the hands seem to have survived alright, I'm pretty sure there's a very fair chance the dial has remained in reasonable condition too. Might be a little challenging to get it out as I would not be surprised if the dial screws are rusted too, but worth a shot. Honestly, I wish I would have spotted this listing in time.
Curious, would your assessment change if the dial was evidently bad?

I feel like at this price point, you can sometimes snag a CB with a nice case and bezel, non rusty movement, and a dial that’s nice but needs reluming.
 
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Does not look like much corrosion under the dial. Hand posts look clean. Balance is probably salvagable. Good chance the hairspring is as well.

Dial screws can be etched out with alum. Tricky and a lot of patience requited. The dial has to be protected carefully. On the 56x I used wax dams to prevent incursion. replenishing little drops as needed.

I did successfully remove some 562 setworks with a laser.

Of course I have only done this with 55x/56x. Rushed the Val-72 though. Patience is key. I almost saved the hairspring. Kacked the upper plate though trying to drill out the click and the drill slipped. Should have used Alum but did not know about it at the time.

Now if only a flightmaster would appear in my price range 🤣

A second speedy, and a 321 at that, well we can dream.
 
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Curious, would your assessment change if the dial was evidently bad?

No. It wouldn’t change my decision, only the potential upside would be less. However, I might be biased as sourcing a 321 movement wouldn’t be an issue for me.
 
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Saw it, thought about it, passed.
Risk/reward didn't work for me on this one. Today Id guess $3000 value for the bezel, hands, and case if sold separately, $4k tops, so you're really counting on that dial for it to make sense ..... for me at least.
 
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This is a tough one. Answers the question are you a case guy or a dial guy?

"Good news is that it's hardly been worn (after I dropped in the sink)."

That case and bezel are very appealing. Even the lume on the hands and dial is nice.

It's probably a buy for someone who really loves Speedys, as it seems like it could be saved. Might cost as much as a nice one in the end, but you'd get satisfaction from bringing it back to life.

The seller says "There is some rust dust on the dial and the underside of the crystal." That's a problem. More likely that the dial has some pitting, but could look passable after opening.

The pusher tubes are probably toast.

I'm surprised there isn't pitting on the caseback inner edge along the seal. Looks clean.

I'm glad I didn't see the ad before it sold as I would have been tempted. Actually surprised it sold for $5k. I'd love to see if it gets cleaned up or parted out. That case, bezel and those hands could end up with a replacement movement with the correct serial number.
 
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Saw it, thought about it, passed.
Risk/reward didn't work for me on this one. Today Id guess $3000 value for the bezel, hands, and case if sold separately, $4k tops, so you're really counting on that dial for it to make sense ..... for me at least.
Are nice DON's trading for <$2,000 these days?
 
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Thought about it, but the “rust dust” on the dial made it a no go.
 
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Are nice DON's trading for <$2,000 these days?
They can be under or a bit over from what I am seeing. IMO Parts are really a crapshoot right now, especially cases. That bezel I would guess would be somewhere in the $1500-$2200 range and you may have to hold on to it for a bit to get 2k+ but it is nice for sure so I may be wrong .... If you needed those parts anyhow it was a good buy but I didn't think it was worth the gamble for me personally.

FWIW MasterofTime sells a lot of parts on eBay so I do also trust his judgment on parts value.

If you have to buy a 321 movement I don't see it penciling out, if you have a low-cost spare it could. Like I said, I was tempted, bezel and case are strong. I think it was a well priced BIN.
 
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I thought that DON in that kind of condition was worth $2,500+ to the right collector, but I guess that’s being quite optimistic given the market.

If that case has any pitting or corrosion caused by that water/rust, the purchase would be a bust. As @140dave said, the risk/reward might be too out of balance on this one. Still, it’s killing me inside to see what the dial really looks like 🧐
 
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Interesting. My gut says yes, then I remember it’s not 2020 any more and the more I think about, the more I think it doesn’t add up financially.

DONs certainly don’t sell for what they used to but the flip side is a 321 movement isn’t as expensive either.

The big issue is the dial. It looks attractive even with that uniform spotting. But, it’s a gamble whether the moisture has made it to the dial side of the movement and started to lift and destabilise the dial finish.

So, from those pics it’s a no from me. If I saw it in person, it might be a yes (if I let my heart rule my head).
Edited:
 
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I would think the seller would have made the assessment of the total value of the parts if broken up, which makes me think that he figured he’d stand a better chance to get more by selling the watch as is and let somebody else take the chance to break this piece up for parts. He might know more about the condition of the dial than you think.
Edited:
 
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I would think the seller would have made the assessment of the total value of the parts if broken up, which makes me think that he figured he’d stand a better chance to get more than by selling the watch as is and let somebody else take the chance to break this piece up for parts. He might know more about the condition of the dial than you think.
Fair point. Then again, the seller does offer 30 day returns and states that the dial is good. Quote: "The original black Speedmaster dial is in very attractive condition. The dial is signed "OMEGA SPEEDMASTER PROFESSIONAL T SWISS MADE T" - see photos. The hands also appear to be very good - see photos. There is some rust dust on the dial and the underside of the crystal that makes the dial difficult to see in the photos, but I am not able to disassemble this watch."

So a part of me thinks the seller simply didn't feel like doing the work of breaking it up (which won't be as easy as parts are rusted in place) and selling pieces individually. This is a big business selling lots (>13k reviews on eBay), so I'm pretty sure it's safe to assume time is money...
 
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Just for my edification: when we refer to “rust on the dial,” we mean rust there from other parts of the watch, as the dial base is brass, yes?
 
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Just for my edification: when we refer to “rust on the dial,” we mean rust there from other parts of the watch, as the dial base is brass, yes?
Brass can still oxidise and ‘rust’ over time so the dial plate and finish can de impacted by moisture.
 
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I was also looking at it when it was available. I don't have enough experience with examples that have rust particles on a dial and the likelihood that it could permanently contaminant the paint. Wild to see such a beautiful watch with such an obliterated movement. I hope someone here got it and will report back 😀