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Spacefruit
··Prolific Speedmaster HoarderLots of talk swirling around market values of speedmasters, in light of the unusual $3,4m sale at Phillips.
More than one dealer has mentioned to me that their 2915's will be asking 500k+, but I would be surprised if that translates into sales. So far, the Speedmaster buyers, like myself, are somewhat circumspect. What the market would need is buyers who have much more money than myself and my contemporaries, a whole new class of buyer, and I am not convinced they are there. I am often wrong with my market predictions in other areas, I am far too conservative and attribute far more discernment to buyers than they subsequently show. I was completely wrong about Netfix for example, but come on, posting DVDs?
So is there a shift upward in Speedmaster values? I kind of hope not, this is my hobby, and I don't want it to go out of reach, like for example Rolex GMTs have for many.
This is on offer in Hong Kong to be auctioned on 5th December.
Sometimes you really have to wonder how this gets past the cataloguers.
You can see the original listing here
Listed as a 145.012-67, with an Omega Extract from 2019.
The low estimate is USD 28,400 plus 25% commission.
I have been scanning the listing, looking for a reason this watch is listed for about three to four times its market value.
Note the bezel.
They do have a -71 which is more sensibly priced at low estimate $4,700 + commission:
This watch is only reasonable in context with the first watch - the hands are poor, the bezel is very poor, and generally tired. It does have a bracelet and it does have an overall attraction as a piece, provided it is the right money. I am not sure this is what the market will agree as the right money.
I will be interested to see how this auction plays out. HK is currently a prison, with movements restricted by Draconian entry quarantine requirements. My friends tell me this distorts the market, somewhat like a pressure cooker.
I cannot for the life of me work out the justification for that first estimate.
More than one dealer has mentioned to me that their 2915's will be asking 500k+, but I would be surprised if that translates into sales. So far, the Speedmaster buyers, like myself, are somewhat circumspect. What the market would need is buyers who have much more money than myself and my contemporaries, a whole new class of buyer, and I am not convinced they are there. I am often wrong with my market predictions in other areas, I am far too conservative and attribute far more discernment to buyers than they subsequently show. I was completely wrong about Netfix for example, but come on, posting DVDs?
So is there a shift upward in Speedmaster values? I kind of hope not, this is my hobby, and I don't want it to go out of reach, like for example Rolex GMTs have for many.
This is on offer in Hong Kong to be auctioned on 5th December.
Sometimes you really have to wonder how this gets past the cataloguers.
You can see the original listing here
Listed as a 145.012-67, with an Omega Extract from 2019.
The low estimate is USD 28,400 plus 25% commission.
I have been scanning the listing, looking for a reason this watch is listed for about three to four times its market value.
Note the bezel.
They do have a -71 which is more sensibly priced at low estimate $4,700 + commission:
This watch is only reasonable in context with the first watch - the hands are poor, the bezel is very poor, and generally tired. It does have a bracelet and it does have an overall attraction as a piece, provided it is the right money. I am not sure this is what the market will agree as the right money.
I will be interested to see how this auction plays out. HK is currently a prison, with movements restricted by Draconian entry quarantine requirements. My friends tell me this distorts the market, somewhat like a pressure cooker.
I cannot for the life of me work out the justification for that first estimate.
Edited:
