Advice regarding selling vintage Omega

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GTI

·May 13, 2014

Hi there.

Looking for for some advice please. I have been passed down from family an 1950's 9ct Gold Omega Watch.

Unfortunately recently my TAG (daily watch) was stolen and left me watchless! 🙁

I have spoke to my family etc and everyone thinks I should sell/trade the watch in. I am just looking for advice on what is best to do. I have been to various jewellers and offered a poor trade in price. I have had the watch valued by Omega for insurance last year so I know the value of it.

I am in the hunt for a second hand Omega Seamaster Planet Ocean Orange 😀

 

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X350 XJR

·May 13, 2014·Vintage Omega Aficionado

Why not list it here:

http://omegaforums.net/forums/watches-for-sale/

Be advised that an insurance value is typically much more than fair market value.

 

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GTI

·May 13, 2014

Hi XJR and thank you for quick reply.

how would I go about finding out the true value of the watch if its worth more than what the insurance certificate says?

Is there some sort of insurance for people that buy over the forum? Can be a lot of money to put over and trust someone. I do sell on car forums but nothing near the amount that watches sell at.

 

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Stewart H

·May 13, 2014

If you post some pictures of it, people here will be able to give you a reasonable idea.

 

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GTI

·May 13, 2014

Here we are, got original box and watch is still in perfect work condition.

 

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Darlinboy

·May 14, 2014·Pratts! Will I B******S!!!

I can't help with the value, although I am sure others will chime in, but that is a nice-looking watch. I'd just have it serviced and enjoy it as a family heirloom.

As mentioned earlier, keep in mind that the market price is not likely to be nearly as high as an "insurance value". Also, age is not equal to additional value. It should, however, be higher than the wholesale dealer would offer.

 

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MSNWatch

·May 14, 2014·Vintage Omega Aficionado

In general for antiques, insurance replacement value is typically 200-400% the price the item would sell for in an auction. In the case of your watch, the value is probably about 20% higher than the value of the piece - it looks like a clean original piece but sorry to say is not a model that is sought after by omega collectors.

 

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GTI

·May 19, 2014

Thank you for the replies.

The watch was valued at £2600 so what should I typically be looking at for auction. I have seen an Omega PO that I would like to purchase.

I am also considering buying new as it will be kept for The rest of my life.

 

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Mothra

·May 19, 2014

Gti, just to be really clear - I think there was a typo in x350 xjr's initial post - the quoted insurance value is usually a much bigger number than what the watch is really worth - and I think this may have distracted you. Msnwatch may have also meant to say '20% higher than the scrap value' - gents, apologies if I am incorrectly putting words in your mouths.

There just isn't a collectors market for this style of watch ( as its 9ct gold I also suspect its a uk case, which usually doesn't hurt the value much, but would do so in this case), so you will be looking to get the melt value of the weight of the case, case back and bracelet.

I have no idea what that weight is, but imho it's going to be a tiny fraction of £2600. Can I ask what you've been offered?

 

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GTI

·May 19, 2014

Hi Mortha.

Thank nm you for the informative reply. That's cleared things up greatly. I have been offered between £500 - £700 so far. Currently speaking to Austin Kaye for a price. I am just looking to get it off loaded to help towards a P.O! Not having a watch is murder! Lol

 

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Mothra

·May 20, 2014

😀 I suspect £5-700 is probably about right - again, if I'm off mark someone will leap in and correct me. You are taking it in the right spirit, anyway - I can't wait to see the Po you wind up with....

 

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GTI

·May 20, 2014

Thank you Mortha,

Will be sad to see the old Omega go but it really sits in a cupboard gathering dust.

Once I get my hands on. P.O all will be forgotten!