How best to value and sell a vintage watch?

kiddela · Jan 11, 2022

Hello all,
My father has tasked me with trying to find out the best way for him to sell his watch and realise good value for it. He has had several low offers from opportunist buyers and even just been offered scrap gold value!
Obviously he is keen to get good value but also keen for it to go to someone who will look after and appreciate the watch.

From my own research I can see similar models online that have the designation 198.0004 (See pics below)

I have several questions I am hoping to answer:

1 - How best to value the watch? I can work out the gold value but have no idea of rarity or collectability. (I can currently see one instance online but don't know if the price is realistic)

2 - How and where to advertise? (I notice I cant post in sales forums here so where should I go? Would it be advisable to just sell to an omega dealer/jeweller?)

3 - What pictures would be required? i.e. Would we need to photograph the inside at the jewellers (We would not want to try and remove the case back ourselves)

4 - Would there normally be an expectation of face to face collection/payment only? I am not aware of any escrow services in the UK? What other options are deemed safe?

5 - Any other relevant advice welcomed

Please excuse my photos. I snapped these extremely quickly while popping around to visit. I will get better pictures as soon as time and covid allows.

Thank you in advance for your time and advice.

TDBK · Jan 11, 2022

Here's a relevant auction result: https://www.phillips.com/detail/omega/HK080319/1042 (HK$62,500 in 2019, with box & papers).

watchyouwant · Jan 11, 2022

2 things first: does it work ? If not, minus $4-500. Second: seems to be in good Nick. Gold stamps fine. Band a bit scratched, case better. Have it opened by a Watchmaker. Very carefully. Every scratch there will affect your price. Take a picture from the inside case back with all numbers and the movement with all numbers, you can find . have it closed rather loosely again. Pay the Watchmaker for his time. Next: for this you need an extract of the archives from the factory. Cost you CHF 120. If all is correct, then you can aim for a max price. Seems 18 karat including the 18 karat gold dial. No idea about the value, others know more about gold watches. My guess would be the gold price plus rarity for collectors. good luck!

Phillips auction prices are not a benchmark for your watch.....

jantjewgm · Jan 11, 2022

The Phillips auction prices are often much higher than what you will get for it. However, very Nice watch!! I would look for similar examples online and compare pricing and condition.

Dan S · Jan 11, 2022

In this case, since you are not knowledgeable and don't have a history as a seller, you might want to see if a vintage watch dealer will sell it for you on consignment.

BenBagbag · Jan 11, 2022

Very niche piece. Worth what someone will pay for it. For something like this find market value and let it sit for a bit. There isn't a buyer for this one every day.

Davidt · Jan 12, 2022

I’m going to say gold price plus say 10% is about the value here as a private seller.

I believe these f300hz can be hard/expensive to service so this will have a significant impact in the price people are willing to pay. Couple this with the fact these arent widely collected along with the fact there seems to be a significant amount of gold in there.

Although you may find a collector of these models who’s prepared to pay more, I’d say scrap value or slightly above would be the median price and not a low ball.

padders · Jan 12, 2022

The D shape hummers are more valuable than some gold hummer models, many of which sit not much above scrap even when working but if this is damaged and needs a new movement or movement work then I fully agree with the above estimates, in fact they may be generous. If undamaged and fully working however (inc the fragile plastic date wheel) then I’d be at maybe ~25% over scrap.

There is every chance that when you open this it is full of battery acid and has date change issues. Parts for Omega Hummer movements are very hard to source, though generic ESA parts are still out there. You will probably not recoup the repair or service costs at sale. That is if you can find anyone to work on it, there is a cheap UK hummer specialist (Paul Wirdnam) but he is often not taking new work. Omega themselves will be in excess of 4 figures GBP to service this.

My suspicion is that you have actually been receiving reasonable offers, f300 pieces don’t have the additional value over the intrinsic parts that vintage balance wheel Omegas have. You may without realising it be an opportunist seller!

Personally I wouldn’t bother shelling out for an extract on this, whatever it says it won’t add back the £100 cost. It won’t be a military piece which is really the only outcome that would bump the value.

cristos71 · Jan 12, 2022

I agree with the above- this watch in this condition ( I find it looking very polished) will be scrap or just above. This ref in steel is generally found well under €1000. I've handled one of these 18kt versions in almost perfect shape at a watch fair which was priced around €4.25K IIRC, a heavy piece, but does not receive any love in the collector community.

ConElPueblo · Jan 12, 2022

I agree with all the above. There are very few collectors for these - undoubtely uncommon - references and those who are willing to shell out a premium will most likely be looking for one that is in better condition. There is a lot of gold in the case and bracelet which makes it expensive to begin with, unlike say a solid gold Seamaster from the fifities which will have a lot larger audience due to the broader appeal (more classic shape, more "romantic" movement, lower cost of entry).

ApolloXVII · Jan 12, 2022

I think an auction on eBay starting from 1 Euro will solve the problem with the value but anyway it's the first time i see this case shape..
Very nice..

Shabbaz · Jan 12, 2022

There are some buyers who would pay a premium for a solid gold omega like yours. And it would'nt surprise me if a extract would mean a lot for them. People always like extracts. It does'nt mean you can sell it for 120 chf more, but it can mean you sell it faster. But like others have said, you can also leave the extract.

i think you need to have some patience for this one. I would throw it on chrono and let it sit for a while.

What would be scrap value? Just to get a idea of value.

Mark020 · Jan 12, 2022

TDBK
Here's a relevant auction result: https://www.phillips.com/detail/omega/HK080319/1042 (HK$62,500 in 2019, with box & papers).

Completely irrelevant I think. Other offer, extreme pricing and impossible to consign stuff...

kiddela · Jan 13, 2022

Thank you all for your advice and guidance so far. That gives me a much better grounding for my expectations.

The watch keeps very good time and has had some minor local servicing (as I understand it) including a replacement back seal/gasket. I will find out about the date wheel though as the date shown in the photos was not the actual date.

I think the gold price alone would be somewhere north of GBP 5000. I am taking that from a weight I saw published of 180g minus a guesstimate of 30g for the movement and glass etc. (I have no idea if that is reasonable?)

There is a similar one here:
https://www.chrono24.co.uk/omega/co...gold-electronic-watch-1980004--id21290787.htm
at nearly GBP 12,000 but that now seems a trifle optimistic, and almost certainly not for a quick sale 😀

kiddela · Jan 13, 2022

I also see Shabbaz mentioned (a website?) called chrono. That sounds interesting. I will look into that as well.

kiddela · Jan 13, 2022

😀 And I now see that is also where my GPB 12000 link was. I was not paying attention.

padders · Jan 13, 2022

K kiddela
Thank you all for your advice and guidance so far. That gives me a much better grounding for my expectations.

The watch keeps very good time and has had some minor local servicing (as I understand it) including a replacement back seal/gasket. I will find out about the date wheel though as the date shown in the photos was not the actual date.

I think the gold price alone would be somewhere north of GBP 5000. I am taking that from a weight I saw published of 180g minus a guesstimate of 30g for the movement and glass etc. (I have no idea if that is reasonable?)

There is a similar one here:
https://www.chrono24.co.uk/omega/co...gold-electronic-watch-1980004--id21290787.htm
at nearly GBP 12,000 but that now seems a trifle optimistic, and almost certainly not for a quick sale 😀

Well the fact it is working and has seen recent intervention is very good news since my fear was that it was a mess inside. If it is still humming then that is likely not junk. Your estimate of weight reduction is likely about right, particularly since your watch has a gold dial. You should weigh the watch yourself to be sure but at today's rates 150g of 18K is circa £4,500 (gold buyers usually pay 90-97% of spot depending on who you use). As Troels says above, the high intrinsic value of the gold will limit its appeal rather and it might struggle to get a buyer at much above £5-6K but that is just my gut feeling. One thing to note is the bracelet length, if too short that will be a big problem since those links will be very hard to find (and very expensive if you can), too small and it might be a scrap candidate after all. With it being an integrated bracelet, it cant be replaced by a leather strap. 7.5" or bigger would be fine though IMO.

If you can negotiate a sensible fee, a watch auction may be the best route for this. It is super specialist with a very small collector pool, though some are active on here occasionally so you may get an approach based on this thread.

cristos71 · Jan 13, 2022

One of he biggest issues that I see with this as a collector's piece and what will certainly hold it right back when it comes to selling is that with it having an electronic F300 movement there is without a doubt one day in the future where that movement will be toast. A mechanical watch on the other hand will probably be repairable for a very long time to come.

This alone would stop me from ever buying a solid gold F300 unless it was very, very cheap....and I'm a gold bug when it comes to watches.

Mark020 · Jan 13, 2022

padders
If you can negotiate a sensible fee, a watch auction may be the best route for this

Well only if you can reduce your upfront cost and can agree on a minimum price. And then there will still be the auction house fee. My advice: don't ;-)

I'd say: take out the movement and sell the gold.

How best to value and sell a vintage watch?

kiddela

TDBK

watchyouwant

jantjewgm

Dan S

BenBagbag

Davidt

padders

cristos71

ConElPueblo

ApolloXVII

Shabbaz

Mark020

kiddela

kiddela

kiddela

padders

cristos71

Mark020

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