Breaking News: The New Steel Speedmaster With Caliber 321 “Ed White”

Evitzee · Jan 9, 2020

S starflyerotr
Boutique in Houston says delivery for those on the waitlist (i.e. #1 on list) won't likely receive watch until 2021. They still have not delivered majority of the Platinum 321 that received full deposit from last year. this is perfect storm for a rolex Daytona like bottleneck....

Omega has had some terrific LE's in the last few years; the Trilogy Speedmaster, #SpeedyTuesday editions, Apollo 8, Apollo 11, Tokyo and a few others and these are ALL available now on the secondary market, some for half the price of this shiny new wet dream. This one doesn't sing to me because there are too many compromises (mainly the sapphire back), but if I was interested in it I think the best way forward is to put any idea of getting one soon on the back burner. I'd be pretty upset if I was asked to pay $14,100 + tax (full price) and not be guaranteed delivery this year. No one can predict the future but all indications are the stock markets are going to have a reasonable year, better to take that $15,000 and invest it. And buy it later if it still sings to you, perhaps it won't.

Looks like Omega did ok with the Apollo 11 deliveries but have fallen back to their old ways of missing deadlines on these new editions.

GadgetGuy88 · Jan 9, 2020

My NYC OB quoted March of this year for deliveries...

Vix · Jan 9, 2020

It is an interesting addition from an enthusiast perspective, being the first 321 movement in a steel reissue of a FOIS piece. It's undeniably an exciting time and promising direction for Omega. I'm pleased for the brand and the community .

Would I buy one? No, I'd wait for a 321 steel Moonwatch in 42mm without fauxtina and reasonably priced i. e. 5 grand tops. I can make do with the 1861 Moonwatch if I really need to scratch that Speedy Pro space mission itch, which I don't at the moment. Instead I'm currently enjoying the latest Racing 44 focused on the racing heritage. But that's me and it's subject to change . I'm sure this Ed White will sell out and rightfully so.

Well done Omega.

igatomic · Jan 9, 2020

But it is still 35k less than that Rory McIlroy toting travesty from a while back. You could be 3 or 4 for the same price. 😀

Evitzee · Jan 9, 2020

Vix
Would I buy one? No, I'd wait for a 321 steel Moonwatch in 42mm without fauxtina and reasonably priced i. e. 5 grand tops.

This will never happen, Omega is never going to give this movement away at that kind of price.

YY77 · Jan 9, 2020

Evitzee
This will never happen, Omega is never going to give this movement away at that kind of price.

Agreed, they set the price to get a piece of the action on vintage prices, heck even the snoopy is commanding a reseller price they don't dare ask. This will be base price for the base 321 model, Every future edition such as a possible A13 50th will be even pricier (although highly unlikely IMHO due to yearly volume).

demchocholips · Jan 9, 2020

My OB said i should get mine in March. Can’t wait!

mswilks · Jan 9, 2020

Noticed yesterday that this model with cursory background was highlighted at the Wall Street Journal (online) with a link to Penta (within Barron's). So it's creating buzz outside of the typical arena ... which of course won't hurt the demand side of the equation.

Denarius · Jan 9, 2020

I would like to get one after a few have been sold on, if they have sold above RRP then it gives you confidence that your not getting stuck with an overpriced showpiece.

Evitzee · Jan 9, 2020

I don't agree with the idea that Omega is trying to get a piece of the vintage market. The new market and the vintage market are different with minimal overlap. There may be a bit more overlap with the 321 but that market will be serviced in the first year or two. I just don't see many potential customers who know little about Omega, and their history with space, walking into a boutique looking for a watch and walking out with a $14,000 321 when there are other Speedmasters with bigger cases (steel and ceramic) and high performance automatic movements, or the yet to be released 3861 Speedmaster which will probably sell for 1/2 of the Ed White job. It just seems the long term market for this movement isn't all that great. Maybe they can flog 2,000 units a year, but does that do much to Omega's bottom line when they make something like 1,000,000 watches per year? Evidently Omega sees value in it, perhaps the buzz and advertising potential makes it all worthwhile.

Muddlerminnow · Jan 9, 2020

Evitzee
= Maybe they can flog 2,000 units a year, but does that do much to Omega's bottom line when they make something like 1,000,000 watches per year?

2,000 units at $15,000 (rounded up) is $30 million. I don't know what Omega's margins are--who does?--but let us suppose they are small--$3K per unit--that's $6 million per year. Every bit adds to the bottom line I guess?

gbesq · Jan 9, 2020

It’s a beautiful piece IMO, but at $14,100 USD, plus tax, I’ll be sticking with my 1976 145.022 861. I do wonder whether this new model will appreciate in value over time or eventually become available on the grey market at a 20% discount. I could make an argument to support either outcome, but I think that price appreciation is probably more likely.

GadgetGuy88 · Jan 9, 2020

Evitzee
I just don't see many potential customers who know little about Omega, and their history with space, walking into a boutique looking for a watch and walking out with a $14,000 321 when there are other Speedmasters with bigger cases (steel and ceramic) and high performance automatic movements, or the yet to be released 3861 Speedmaster which will probably sell for 1/2 of the Ed White job.

That’s true. I’m trying to think of an analogous situation where a derelict movement has been revived. Maybe Lange comes closest. Or when Nikon did the DF which looks like an old FE/FM? Most of the noise on Rolex is how they make tiny tweaks to improve their movements. So this goes in the opposite direction. A couple of thousand isn’t a lot world wide.

Swiss watchmakers like Omega are large and can play around a bit with niche pieces. Like Chrysler and the Prowler. This feels like that to me.

These c321 Ed Whites will be basically made to order. I don’t imagine them ever sitting for long in the window at an AD or OB. These won’t be like X33 Skywalkers or 1957 Railmasters.

And sure... one can imagine other historic case resurrections. To keep the 321s around.

T3F · Jan 9, 2020

I put a deposit down this morning at the Tyson’s boutique and am fifth on the list. The sales associate there said that a deposit doesn’t guarantee getting a piece and that higher-ups will ultimately be deciding who gets one. I love this watch and really hope I get one, but I‘m not too hopeful that it’ll be this year given the low production. I’m pretty bummed because I had a few totally unrelated things come up that took my focus off of watches for a few days, and it stinks that a 48-hour delay in putting down a deposit might cost me a year as far as getting this watch, but it is what it is with these things.

As far as value goes, I don’t think it really applies here. On one hand, you can get nearly the same thing for 1/3 of the price, but on the other, the price is very low for a limited-production (not to mention the manner of production) chronograph with incredible heritage. Discussions of value as it applies to luxury watches make zero sense to me — all luxury watches are innately a terrible value when evaluated from a practical standpoint. If you want one, have the money, and are willing to pay the price Omega is asking, then go for it, and if not, then don’t.

Screwbacks · Jan 9, 2020

due to its limited production and fairly affordable price, any pontential flippers or speculators buying more than 1 piece and flip the extra for an horrendous profit later on?

tmilnthorp · Jan 9, 2020

Personally I love it. It's a beautiful watch with a great moment. Yes the price gives me pause, and the marketing "story" is... strong with this one, but I believe the low production numbers help justify it. That's what I tell myself anyways...

My OB commented that they only expect approximately 100 to hit the US market this year. I am not sure how true that is, but that would be an exceptionally low number.

Screwbacks
due to its limited production and fairly affordable price, any pontential flippers or speculators buying more than 1 piece and flip the extra for an horrendous profit later on?

I am not sure I'd call it "fairly affordable" (although I'm obviously not fairly rich!), but I'm sad to say this is almost guaranteed to happen. It is a problem that plagues many hard to get models, and prevents real enthusiasts from being able to enjoy them at MSRP.

Evitzee · Jan 9, 2020

tmilnthorp
My OB commented that they only expect approximately 100 to hit the US market this year. I am not sure how true that is, but that would be an exceptionally low number.

It's in the ballpark I think. About 10% of the Apollo 11's came to the US, about 700 or so. Don't know how many of the SS ones will be made, maybe 1,500 a year? So I can see 100-150 coming to the US. I would expect production to be low to begin with in order to make sure everything is working.

Travelller · Jan 9, 2020

KstateSkier
Hey Al, what is so difficult about servicing a 321 movement (beyond the availability of replacement parts of course)? Surely someone of your experience has serviced many?

Archer
Nothing...

I was under the impression that column-wheel systems were more complex than cam-actuated - both in the actual design / deployment as well as servicing... or am I wrong about that... 🤔

Speaking of which - for those above wondering why even bother with revisiting the 321; well aside from the historical perspective, I'd really like to have a column-wheel based chronograph* in my humble collection... 🥰

Sidebar:
*Some in current-production I know of and like (in SS only): Vacheron Constantin 2019's Cornes de Vache 1955 in SS (€40K), Blancpain's 2019 Air Command (€19K and limited to 500pcs), Zenith El Primero (€7.5K), Breitling Navitimer B01 (€8K), Tudor Heritage BB Chrono (€5K), Sinn 910 SRS (€4.5K, heavily modded 7750), Longines Single Push-Piece (€3K).

Aside from of course, the new Omega 321, what other current-production column-wheel-based chronographs (in SS only) have caught your attention...?

nismo · Jan 9, 2020

Well if the bracelet will fit the FOIS, I will be buying at least that part. $15k for the entire thing is a bit much imo.

cvalue13 · Jan 9, 2020

mzinski
But you’re ignoring the other subset of people who are commenting to say the watch is being priced at a point far in excess of its production and overhead costs

If only production and overhead costs had anything meaningful to do with the market prices of 'luxury' SS sport watches these days (see RE nautilus, aquanaut, royal oak, Daytona, GMT, Sub, etc., etc., etc.).

Maybe it's just the understandable wheezing of we Omega fans getting even the faintest taste of what other brand loyalists have been reeling (or rejoicing) in for quite some time.

Breaking News: The New Steel Speedmaster With Caliber 321 “Ed White”

Evitzee

GadgetGuy88

Vix

igatomic

Evitzee

YY77

demchocholips

mswilks

Denarius

Evitzee

Muddlerminnow

gbesq

GadgetGuy88

T3F

Screwbacks

tmilnthorp

Evitzee

Travelller

nismo

cvalue13

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