Hello all,
I've been planning to purchase a Speedy Pro this summer but I want to spend as little net money as possible. I have been looking recently at purchasing a used moonwatch on chrono24 for about $3000-$3200 using a credit card with a large signup bonus. Then, since I want to keep this watch forever and don't like bracelets, sell the genuine Omega steel bracelet on Ebay for about $400-$500. I believe that all in I can get a functioning gently used Speedy pro for about $1800 net. How would I verify authenticity of a used watch purchased on Chrono24? How long can I wear it before I should get it serviced as I don't want to immediately send the watch off?

Please critique my plan and offer advice.
Thank you in advance.

 

I think a standard Speedy (new, with warranty) can be obtained easily at a grey dealer. Won't cost you much more than the figure you are quoting, + you have a 5 year warranty.

 

It could work, but why not do the same thing with a brand-new moonwatch? Higher outlay for sure, but not horrendous. That way you wouldn't have to worry about authenticity etc and you'd have 5yrs warranty.

 

Grey market is about $3600 for a Speedy pro without the metal bracelet. That's about $1000-$1200 more than a used one after selling the bracelet. Is new and 5 years warranty worth it for a watch that would be 70% net more than a used one?

 

A new Speedy Pro bracelet should get you somewhat more than $500, plus the big box with the loupe and paraphernalia can net you $350 plus, if you are willing to sell it.

I kept just the watch head from mine, since I really don’t like the modern bracelet.

 

But of course, be aware that this route might not be the best idea if you plan to sell the watch later on. I only did this because the modern Speedy is my daily beater I intend to keep.

 

Personally, it would be worth it for the peace of mind.

 

Agreed. For my first Omega, I purchased at OB. I wanted to make sure the watch was authentic and really just have the experience. It really depends on what you want.

 

Is the cc bonus nearly $1000 then? Using your lower figures, $1800+400 = $2200 so, another $800+ from the cc? Seems a good deal.

You don't know what the $3200 watch on C24 has been through and the bracelet may not be in the best condition for resale. How old would that watch be? If it's 5 years, then expect to add a service in a short time.

In my opinion, if you're going to keep this, then buy new. I bought mine in 1997 and it was a nice experience and is still with me.

Against that, I've never bought a new car but that's for other reasons.

Cheers, Chris

 

What credit card company is giving away $800? Did I throw away junk mail that was actually worth a chunk of money?

 

Chase Sapphire preferred 60,000 point bonus for $4000 spent in 3 months equals $750 when used on travel ( going to Disney in January). Add in the 3000 extra points from buying the watch and your'e at $785 in points. Only way I spend $4000 on a CC in 3 months is with a purchase like this.

 

How much is the genuine leather Omega strap that comes on the new Braceletless Moonwatches worth?

 

I've sold mine, four years ago, slightly used condition, in Germany, for €300,- The larger part of the value is in the deployant clasp.

 

Famous last words. Never say forever! (I speak from experience )

So I would still keep in mind about future resale, just a teeny tiny bit.

 

You should be able to find a new speedy with a bracelet for about 3800$ if I'm not mistaken. As others mentioned before you'd also get the 5 years of warranty. You wouldn't have to worry about authenticity or about servicing costs.

Those 500$ you could save are not worth it in my opinion. In the end it could even turn out to be just as expensive as buying a new one + your buying experience would be worse.

 

I have seen a fair few speedies for around 4K AUD. but if you are planning on selling it later one you will get even less for it. Most* ppl want it on the bracelet.

 

A sound plan would be to have some margin for unforseen events. What if there is something wrong and you have to have it serviced soon after purchase? What if you get less for the bracelet than expected?

If you can’t afford to buy the watch, and by afford I mean also to have some margin, I would say don’t buy it or wait till your are “comfortable” buying it.

If you are doing it I would buy new from AD and spend a little more but then have full warrenty.

 

As I do the math, if you can in fact buy a new Speedy with bracelet and 5 year warranty for $3800 vs. $3000 for pre-owned, then new is the route I would go. You have the same CC bonus on both purchases, you get the same $500ish for reselling the bracelet in either case. That leaves you at +$800 going the new watch route so far. If you sell off the paraphernalia for $350, then are at +$450 for new. A service by Omega for a chrono runs about $700 if memory serves. After the first service, which you will almost certainly need within a year or two on a used piece, then you are actually behind if you go pre-owned.

Seems like there is only a few hundred bucks in it either way. In that case I just go whatever route gives you the most warm fuzzies.

 

It’s pretty easy to spot a fake 3570.50. Do your research an buy a used one. That’s probably your best option.

 

It’s up to you, but any watch bought pre owned should have at least the seals checked. So factor that cost into buying pre owned as well. If it’s an older piece, maybe even a complete service.