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Buying a Speedmaster Silver Snoopy 50th Anniversary ...

W
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Hi guys. I admit I am new to the forum. I am considering buying my holy grail watch in the grey market the Silver Snoopy 50th Anniversary. I didn't even bother contacting the boutique as I expect to get ignored cause my only previous purchase with them was a Speedmaster Moonwatch back in 2015. I also heard rumours that this watch is nearing the end of production and they aren't going to take waiting lists anymore.

I have an opportunity to buy this watch unworn for AU$27,500 (~US$18,100) the retail price being AU$17,500. The average sale price in Chrono 24 for this watch is around AU$28-29K (US$19-20K) for unworn. I have already contacted the dealer. I have never paid scalped prices for any watch not even for my Rolex Sea Dweller 43. I am obsessed with this watch so much that I feel like going for it despite the excess price over retail. I guess it does have some investment potential compared to most other watches in the market now although I will be wearing it but babying it while I wear it occasionally. Not planning to flip any of my watches, cause I can afford it but a decision like this is a tough one. Any thoughts?
 
Evitzee
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Only you can decide what the watch is worth to you. Prices have come down somewhat but your local market is going to be constrained due to its size. Is there any wiggle room on that price? I don't think the long term upside is all that great going forward, too many have been produced. But if you just have to have it, you have to have it.
 
STANDY
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$10k over retail is high in my head. Buy a white dial and another watch or 2

For that money in $AUD you could buy a new white dial Speedmaster and a Speedy Tuesday 1 or 2 馃槈
 
W
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Evitzee Evitzee
Only you can decide what the watch is worth to you. Prices have come down somewhat but your local market is going to be constrained due to its size. Is there any wiggle room on that price? I don't think the long term upside is all that great going forward, too many have been produced. But if you just have to have it, you have to have it.

I already tried to bargain, and the seller brought it down by just $500 from $28,000. I might try my best to haggle a bit more when I meet the dealer tomorrow, but I doubt he will agree for less. He has had it for sale for a few months, so I guess there might have been a few potential buyers whom he rejected as he disagreed with reducing the price. I can't get my mind off this purchase. Knowing the sucker I am for these things when I see the watch in person, I might pull the trigger.

The 2nd Snoopy, which was a limited production run, has gone up in value by nearly 6-7 times the price of retail, selling for like AU$70,000. This watch is overall a better watch, so difficult to get at retail, so I guess that even at this inflated grey market price, it will go up even further once Omega confirms that it is ceasing production, like removing it from their official website.

Even though I am seeing this watch for the first time soon, I am just curious to know if it looks better in person than in the pictures.
 
Evitzee
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Do not assume Snoopy 50th will follow the same price trajectory as the Snoopy 45th long term. That mentality is what drove much of the frenzy for this latest watch. You probably won't lose much long term, even at the price you are paying, but I think long term upside is fairly limited. Just my opinion.
 
STANDY
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Evitzee Evitzee
Do not assume Snoopy 50th will follow the same price trajectory as the Snoopy 45th long term. That mentality is what drove much of the frenzy for this latest watch. You probably won't lose much long term, even at the price you are paying, but I think long term upside is fairly limited. Just my opinion.

I agree with this, you鈥檙e never going to see the Snoopy 50th gain anything like the 45th.
You talking 1800 made (45th) compared to could be 10-20k (50th) made.
 
W
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As long as it doesn't lose its value beyond the scalping price I pay, then I don't mind. Gaining a few $1000 in a few years would be an added bonus. I doubt that it will go down further than the current grey market price once it ceases production. It was as high as AU$48,000 in the grey market back in 2022 during its initial hype. So I think I am safe. There are only 2 Silver Snoopy 50th Anniversary for sale in the whole of Australia in the grey market now and only 1 in Sydney where I live. No boutique is ever going to offer me one as I might be a nobody to them, at the same time, they might have none for sale. If at all, they might be fulfilling buyers on the waiting list for years. Far safer than buying a Patek Philippe Nautilus or any Rolex at grey market prices.

These watches are hard to come by in Australia. When I bought my first Speedmaster with moon graph and date in a Sydney boutique back in 2015, there was a tiny scratch on the watch case. When they replaced it for me, they had to get it from Melbourne, stating that they had only 2 of the same model 3576.50.00 in the whole country in retail. They replaced it with the only remaining one.
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Edited:
 
WatchTimes
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812Spz8.jpg
 
W
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After reading the above posts, I am filled with guilt about paying this scalped price. It's not just about investment. I love this watch. I am considering flipping my fairly new IWC green Pilot chronograph 41mm on a leather strap to save a few $1000s so I don't feel so guilty and spend slightly less. Or maybe I might just forget it completely.
 
Evitzee
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Why feel guilty? Omega doesn't set the market price, the market does. The market says it is far higher than the artificial MSRP Omega publishes, so if you want the watch you'll have to pay the price. Most of the times product is sold at less than the list price, sometimes with hot products they sell above. Snoopy is one of them. If you really like the watch, and it sounds like you do, and can afford it, buy it. But don't do any other selling until the dust settles and the emotional hit subsides. That way you won't make any hasty decisions that you will regret later.
 
ErichPryde
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I might try my best to haggle a bit more when I meet the dealer tomorrow

This never works. if you show up prepared to pay the dealer price, he's not going to budge.

If you want the watch- then it is worth the cost. Decide whether or not a slight loss in value into the future matters to you as a sort of "worst case" scenario. if it doesn't and it's not primarily about the money then go for it.

Edit: oof on my use of an absolute statement here. I think I need a strong beer or perhaps quite a few fingers of whiskey.
Edited:
 
Davidt
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The best buyer is the one in front of you. No dealer wants stock sitting around for months. Play hard ball with him.
 
Evitzee
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Davidt Davidt
The best buyer is the one in front of you. No dealer wants stock sitting around for months. Play hard ball with him.
That works if the seller feels he's getting squeezed by a falling market. It depends on what he has in it, how long he's had it, the interest shown so far, and other factors. This is where negotiating skill comes into the picture, some people are good at it, most aren't.
 
ErichPryde
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Evitzee Evitzee
That works if the seller feels he's getting squeezed by a falling market. It depends on what he has in it, how long he's had it, the interest shown so far, and other factors. This is where negotiating skill comes into the picture, some people are good at it, most aren't.

Agreed. if you show up to a negotiation and it's clear you've "got to have [the limited availability, high-demand] the item," you can forget it. Sounds like the seller has already come down a bit. It all depends upon how that meeting and conversation goes... but I don't know why they'd come down more if they've already come down some on a watch that has solid demand.
 
Davidt
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Cash flow is king though imo in a business. Dealers don鈥檛 want stock lying around. If he鈥檚 had it for months at that price the market value for such an in demand piece much be less than his asking price.

Of course if he鈥檚 not a pro dealer, just doing it on the side, he may be more happy who wait it out to maximise his return.
 
ErichPryde
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Davidt Davidt
Cash flow is king though imo in a business. Dealers don鈥檛 want stock lying around. If he鈥檚 had it for months at that price the market value for such an in demand piece much be less than his asking price.

Of course if he鈥檚 not a pro dealer, just doing it on the side, he may be more happy who wait it out to maximise his return.
Could be, and can't hurt.
 
Trog
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My only regrets are the watches that got away.
 
Trog
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I refused to buy the 45th Snoopy when prices hit AU$ 25K.... years later I settled at AU$ 50K.

The way I see it is if you have the cash on hand, and you want it...buy it!
 
DoctorEvil
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If you plan to keep the watch forever, then secondary market value shouldn't matter too much. As others have already said here if you really, really love this watch then just get it at market price and be done with it. If it appreciates in value later once it goes out of production then that's just a bonus.
 
W
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After all the guilt I had in having to spend excess in the grey market, I finally bought it. I absolutely love it. The way it looks makes me want to baby it too much. Wearing it would be a stress fest to try to avoid even the slightest of scratches. The only problem is that the blue strap is too stiff. Unfortunately, it was a very rainy day, and even though the box was placed in plastic wrapping in the bag, there are minute dried wet stains on the cardboard box. Obsessive-compulsive me is even affected by those tiny stains on the cardboard covering despite the actual box inside being unaffected!
 
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