Hi all,

I'm fairly new to the forum and wanted to ask a bit of advice.

If I were to buy a brand new Speedie Pro, assuming it is well kept etc, if I came to sell in a few years what does it tend to depreciate to?

I have a modest collection at the moment and haven't 'flipped' anything so far and I'm considering a bigger purchase next year (maybe a vintage Speedie or rolex) ..... So I'm thinking buy a new Speedie now, enjoy for a year, then sell and put proceeds towards the new watch.

Am I right in thinking I'll get about £2500 resale for the new model in about 1-2 years time??

 

Very easy to find the answer, take a quick scan through the ‘watches for sale’ thread on this forum. You will find several late model speedies sold by gentlemen who know the market price very well as they sell them on a regular basis.

 

As for buying and flipping, you are likely to lose some money on the transaction when buying and selling that will leave you out of pocket (taxes, duties, shipping) even if you avoid any depreciation in the value of the watch itself (doubtful you’ll avoid it with a late model common reference).

I suggest choosing what you really want, saving until you can afford it, then buy it and keep it forever. When you realize there’s another great watch you want badly, buy and hold it as well. Be very selective about each purchase so you don’t regret it later.

Oh, and whatever you do, make the choice on your own. Don’t ask a diverse Internet forum group to tell you what watch to buy...

 

Thanks for taking the time to reply, this is excellent advice, especially about buying what you like.

I think I just need to be more patient! Funds are limited but my desires aren't unfortunately!!

 

My pleasure... my delight in giving my opinion usually exceeds anyone's desire in hearing it...

Herein lies the tie that binds us all! No matter how vast a collection grows, there is always at least 'one more' needed!

Some additional advice/opinion from me:

1. Realize that researching different watches can be almost as fun as the purchasing/owning aspect (and it costs SO MUCH LESS!)

2. Sometimes buying a few lower cost watches rather than 1 higher cost watch can be a nice start to collecting when funds are low. When I began searching for my first mechanical watch, I initially settled on a Tag Heuer Carerra 5 which was ~$2200 USD. While searching, I discovered I could get a Tissot Visodate for ~$500 USD and then a Hamilton Jazzmaster for another ~$500 USD. This left me with 2 watches that I could switch between for less than half what the Tag would have cost. While enjoying my 2, I realized I didn't want the Tag after all and so in the end I not only saved by buying cheaper, but I also avoided any depreciation on a watch I likely would have been tempted to 'flip'. Also, I found 2 great watches that I still regularly wear in my rotation and so it's been a huge win-win-win for me personally.

3. One of the best ways to avoid paying the 'depreciation tax' from buying a common modern watch (aside from Rolex anomalies), I would highly recommend opening your options to considering pre-owned from some of the trusted sellers on this forum. This way you can buy close to the residual value of the watch and then you won't feel you've 'lost' anything (other than any transactional costs).

(see what happens when you encourage opinions? Be careful what you ask for...)

 

I had the choice ( and still do ) of buying new or old.

Love seeing all the old speedies worn and still going.

But I wanted to make one vintage myself so I bought new and wear it as my daily wearer and enjoy every ding and scratch I get.
( taken on the weekend before its monthly clean , and poly watch is for wimps )

 

I don't think you'll ever hear someone regret being patient on an early watch purchase.

I'm about 6 months deep into a planned 1-year stint of saving my pennies for a Rolex GMT that I have wanted. The saving period is self-imposed partly because I actually need to save the pennies, and partially just to make sure that I still want the thing after waiting for so long.

 

Gah this makes me cringe but at the same time, I respect that.

 

If you were lucky enough to sell a pre-owned watch (Speedmaster or otherwise) for close to what you paid, (unlikely in my view), you’ll be selling it for depreciated dollars. Net result, even if you sell it for what you paid, you’ve lost money! If you managed to get a sweetheart deal when you bought it, you might come out alright.

 

Why not buy a slightly used modern speedy? Let someone else take the first value hit...

If you are set on buying new, think of it as renting the watch for a couple years. Let's say you lose $500 on the purchase and sell after 5 years, it's as if you rented it for $100 per year.

Just my thoughts.

 

A brand new Speedmaster Professional from the secondary market is about US $3500, why not go that way? Lots of great sellers here on the "Watches for Sale" board

 

Exactly - why buy new from an AD if depreciation is a key concern?

You may be able to work a deal with a dealer whereby you purchase a Speedmaster this year, work out a price to sell it back next year presuming you simultaneously buy a higher end watch from that same dealer.

 

Just FYI, if you want an appreciating Speedmaster Pro, your best bet would be a Limited Edition model but the cost to get one is usually around double the original Moonwatch.

 

Let me introduce you to my axiom..."It's going to be a used watch when I sell it or trade it. It may as well be a used watch when I buy it."

I have found over the years that a watch that was purchased as "previously loved" tends to retain a higher percentage of my purchase price than a watch that was acquired from an AD.

And @Meme-Dweller is correct. One has a much higher likelihood of appreciation on a Limited Edition model. But, be careful. All LE's are not the same and they don't all appreciate. It's a bit of a crap-shoot.

 

To sum up: never buy a watch with the intention of selling it.

I've found much greater enjoyment with my collection when I started buying watches that I really loved and wanted to keep forever. I have more of a chance to bond with them because they tend to stick around longer, and I don't have to worry about if their value is increasing or decreasing because it doesn't affect me in the least bit!

 

Thanks guys, sagely advice in abundance!!!

This has definately made things far clearer on how to proceed

I've always wanted a newish Speedie, as well as a vintage one, so will probably have a look at picking up a lightly used one as the first step, while I learn more about the vintage market and what specific model/year appeals to me most.

 

To cut to the chase, honest answer? No you aren't right, at least not in the UK market, unless the price of a new one rises considerably (which I wouldn't put past Omega). These are currently available grey market with Omega warranty for around £2850-2900 and the second hand market for a recent model seems to settle around £2200-2300 for a full set. Think about it logically, why would someone give £2500 for a worn one with very short or no warranty when a new one is only a few hundred quid more, there has to be some incentive in buying the older one.

 

If you are buying a new watch, with the exception of some Rolex, expect to take a haircut on resale if you plan not to keep forever.

 

I must say that's an interesting thought - perhaps there's a business opportunity out there for leasing Speedies...

 

Pretty sure I saw an ad on Instagram for a company that does just that.

There were different tiers with different watches and depending one what tier you wanted the cost would reflect that of the watches included in that tier.
There were a few watches per tier that you could rotate through if I remember correctly.
And I do believe there was a tier with a Speedy Pro.