Mk II Speedmaster surprising hammer price £1900

DanT · Jan 12, 2021

The hammer went down on this standard, pretty scruffy MK II for £1900 today - with nearly 30% fees on top. The estimate was soft at £500-700 - but all in all a surprising result.

Battered or over polished MK II's appear at regional auction houses regularly, but even at the London auctions like WoK they have struggled to top £1100 hammer price in recent times (except for examples with special provenance or 'tropical' dials.)

Auction results appear volatile at the moment (although the fees are only going one way) but this does seem higher than comparable prices I've seen for this reference - with a service, new crystal and fees, this is going to cost its new owner the thick end of £3k.

eugeneandresson · Jan 12, 2021

‘Scruffy’ in this case = not prepared/untouched. Underneath that ‘scruffy’ glass looks like a clean dial with no paint chips missing from the stem of the hands e.g. I guess the buyers assumption is it’s most likely not had a service (ever). Case also has original finishes (so not polished). It will clean up very nicely. These are the types of watches collectors cherish, and pay for, as they don’t pop up too often.

DanT · Jan 12, 2021

eugeneandresson
‘Scruffy’ in this case = not prepared/untouched. Underneath that ‘scruffy’ glass looks like a clean dial with no paint chips missing from the stem of the hands e.g. I guess the buyers assumption is it’s most likely not had a service (ever). Case also has original finishes (so not polished). It will clean up very nicely. These are the types of watches collectors cherish, and pay for, as they don’t pop up too often.

Good points - but presumably the buyer (if it is a collector looking for a 'barn find' in untouched, original condition) will want to restore it to some degree? That means work to the case (it does have its polished facets from what I can tell) with a lapping machine (to bring back the starburst finish to the top of the case), full mechanical service with potentially new parts, new mineral glass etc etc. My main point is this is looking like a £3k Mk II once brought back to decent condition - which seems to indicate prices for this reference are rising. Or it may just be a one off - a collector as you say paying a premium for an untouched original.

eugeneandresson · Jan 12, 2021

DanT
Good points - but presumably the buyer (if it is a collector looking for a 'barn find' in untouched, original condition) will want to restore it to some degree? That means work to the case (it does have its polished facets from what I can tell) with a lapping machine (to bring back the starburst finish to the top of the case), full mechanical service with potentially new parts, new mineral glass etc etc.

IMHO it means the opposite : Zero work is needed on the case (I would only consider that route if the watch were polished to a bar of soap). I think, from these horrendous photos, that the starburst finish is present (albeit with some scratches) and the edges present (but its hard to say). Why add it again, when a single scratch will stand out strongly and make it look much worse? This way, it can be worn and enjoyed and still look great without stress. Just a mechanical service and a new mineral glass is all that I would do.

DanT
My main point is this is looking like a £3k Mk II once brought back to decent condition

IMHO (again) refinishing the case does not make it a 3k watch (quite the opposite). Most watches like this you can find for this price (from my limited noticing of them) are turds or refinished with issues.

This is all just my preference, and why I would have bought this watch (as well as what I would have done), if I were after this reference. I am under the impression that most collectors these days follow this train of thought.

DanT · Jan 12, 2021

eugeneandresson
IMHO it means the opposite : Zero work is needed on the case (I would only consider that route if the watch were polished to a bar of soap). I think, from these horrendous photos, that the starburst finish is present (albeit with some scratches) and the edges present (but its hard to say). Why add it again, when a single scratch will stand out strongly and make it look much worse? This way, it can be worn and enjoyed and still look great without stress. Just a mechanical service and a new mineral glass is all that I would do.

IMHO (again) refinishing the case does not make it a 3k watch (quite the opposite). Most watches like this you can find for this price (from my limited noticing of them) are turds or refinished with issues.

This is all just my preference, and why I would have bought this watch (as well as what I would have done), if I were after this reference. I am under the impression that most collectors these days follow this train of thought.

Thanks for your reply, and again you make valid points.

As you say, sometimes these are polished to a bar of soap, and I'm not sure if the purist would be happy with that, as with these Mark series Speedies the case is the most prominent aspect of the design.
Most collectors would opt for minimal restoration - a service and new mineral glass - although Chuck Maddox went considerably further on his bought for $115!
http://chronomaddox.com/markiireborn.html

Interesting to read his case was lightly polished during the restoration, including brushing to the top. But then he was worried about wearing it as his daily beater and getting the case scratched. Here's a case in point (no pun intended) - my one appears to support your argument!

Sherbie · Jan 13, 2021

And if the buyer does leave the case alone as argued above by @eugeneandresson, and can carry out the service himself/herself, then it makes the buy even more sweet

Mk II Speedmaster surprising hammer price £1900

DanT

eugeneandresson

DanT

eugeneandresson

DanT

Sherbie

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