My Early Seamaster 120 Divers. What to look for and what to avoid.

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Wow
Can I call dibs on this please?

Noted. I can’t imagine selling this one anytime soon though!
 
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Another landed. This time with the black date disk and a wonderfully sharp case.



nice condition and the markers have gone a nice colour, if it isn't vulgar, mind if i ask what you paid for it?
 
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I just came across this one. It looks too perfect to be true, except for the case which seems a bit polished - anything I've missed?
The caseback says 166.00027, can that be correct?
 
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The caseback says 166.00027, can that be correct?

It generally looks right compared to my examples. The bezel is definitely correct. This might be due to the angle, but the date window looks odd.

i’ve never seen a caseback on these with the extra 0’s in the reference number, but it could be some sort of service replacement.
 
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nice condition and the markers have gone a nice colour, if it isn't vulgar, mind if i ask what you paid for it?

PM sent
 
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Yes it did. Ad 9 percent auction fee + 50 eur shipping in europe, so buyer would have paid roughly 2940. What do you think about that value?
 
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Oh yeah I forgot about the fees.

I really like SM120’s and that was a good example but I think it was expensive, particularly as it didn’t include a bracelet and I assume wasnt serviced.
 
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Then again, when I’ve been looking recently, good SM120’s are hard to find. Most of the ones on eBay are beat to hell, so I can kinda understand why someone paid that given the condition. Still expensive imo.
 
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Then again, when I’ve been looking recently, good SM120’s are hard to find. Most of the ones on eBay are beat to hell, so I can kinda understand why someone paid that given the condition. Still expensive imo.
I first bristled when I saw the price above and I remembered @Shabbaz several years ago saying “a nice SM120 is €2k”…and everyone says nahhhh, I can get one for €1.5k…..yeah, show me.
 
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I first bristled when I saw the price above and I remembered @Shabbaz several years ago saying “a nice SM120 is €2k”…and everyone says nahhhh, I can get one for €1.5k…..yeah, show me.

Well unless you’re very lucky, no one’s getting a decent automatic version for €1500 anymore.
I still think €2000 is possible with patience but you’ve got to know your onions. By the time you’ve asked on the forum if it’s fake, chances are someone will have bought it.
I do think €3000 head only is a strong price and although the market may have spoken, it is only one sale. I think a range of around €2300-2700 for a good example is about right. Obviously true collector quality will be higher and a service or bracelet adds value and average/poor examples will be less.

What’s everyone else view on the market?
 
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Well unless you’re very lucky, no one’s getting a decent automatic version for €1500 anymore.
I still think €2000 is possible with patience but you’ve got to know your onions. By the time you’ve asked on the forum if it’s fake, chances are someone will have bought it.
I do think €3000 head only is a strong price and although the market may have spoken, it is only one sale. I think a range of around €2300-2700 for a good example is about right. Obviously true collector quality will be higher and a service or bracelet adds value and average/poor examples will be less.

What’s everyone else view on the market?
I agree with your values- but as we have seen here (and elsewhere since we all are always looking even if not buying) it is indeed really hard to find an honest 120 in nice shape. It was never “easy” before, but word is out on these and it’s a sellers market.

I think there is also the collectors divide which we don’t really account for. Sure, as a seasoned collector we may say “I wouldn’t pay more than $2k for a really clean one and above that is nuts”, but then if pressed on how much it would take to part with one we already own, the numbers magically go upward “an offer under $3k for my really clean one is insulting!”.

Reality is somewhere in between.
 
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Nice discussion indeed. I was hunting for a SM120 for a while about a year ago, and indeed had taken @Shabbaz's 2k guideline in mind as well. I found ok examples with bracelet in the 2300-2700 range, but all still had some flaws. Ended up paying about 3k for a serviced head only, but with in my view, a state of the lume that was a lot nicer than what was on the market - happy to pay that premium, even though I know it was not a good deal.
I think the Catawiki buyer did fine, because the state of the lume on that example was also a lot better than most out there. But i agree it wasn't a bargain.
 
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Nice discussion indeed. I was hunting for a SM120 for a while about a year ago, and indeed had taken @Shabbaz's 2k guideline in mind as well. I found ok examples with bracelet in the 2300-2700 range, but all still had some flaws. Ended up paying about 3k for a serviced head only, but with in my view, a state of the lume that was a lot nicer than what was on the market - happy to pay that premium, even though I know it was not a good deal.
I think the Catawiki buyer did fine, because the state of the lume on that example was also a lot better than most out there. But i agree it wasn't a bargain.
These real world purchase values from people who have bought them recently is what we need to know to asses real market value. We can theorize all day, but what people are actually paying for these is what the market value really is.
 
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Are you quoting € or $? Then again, I suppose they’re the same now!

Certainly an interesting discussion as good examples of the SM120 do seem to be hard to find. Happily both mine have lovely lume as well. Both are away (or shortly going away) for a long over due service.

 
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Agree. And ofcourse there will always be 2 markets -
Are you quoting € or $? Then again, I suppose they’re the same now!

Certainly an interesting discussion as good examples of the SM120 do seem to be hard to find. Happily both mine have lovely lume as well. Both are away (or shortly going away) for a long over due service.


EUR indeed - same to USD nowadays 🙁
Both are great catches that you have there!
 
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I must say that my 2k range is maybe a bit optimistic nowadays... 🙁