Hello,

I have been looking at an Omega Speedmaster 39.7mm (Ref 311.32.40.30.01.001) with brown leather strap from an Omega retailer. They have priced this at $4120USD. At this price, would this be a good buy for a brand new watch?
What are your thoughts?

 

Hey Tim,

Welcome along - what has your research uncovered so far?

 

I wouldn't buy it at that price. But that's just me.

 

That is the FOIS (First Omega in Space) and as such is Omega's own in house homage to the pieces which the early 60s NASA guys were using. The 1960s originals tend to fetch tens of thousands so it is a little surprising that this one doesn't seem to be a big seller, possibly since it isn't a LE, simply a 'numbered edition'. The day they discontinue it (if they haven't already) it wouldn't surprise me if it did appreciate a little since it looks great. As it is, I would be looking to give nearer $3500/£2650 than the price you list above for a new one, indeed a Costco local to me had one at around that price last year and that included 20% UK sales tax (VAT). There is a UK grey market supplier called Iconic who have one at £2690 right now but I guess that doesn't help if you are thousands of miles away!

In short, an under appreciated model (rather like the Tin-Tin) which is the basis for the current CK2998 darling which seems to be rather stronger in retained value.

 

You can get this from grey market sites like Jomashop for around 2500.

 

Chitownwatch has the FOIS for $3300 new w/ warranty.


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It was like $3400 last I looked on Jomashop.

 

The price is high relative to other deals you can find. I just paid $2750 (bottom line) for a Omega Speedmaster 311.33.42.30.01.001, a very similar watch. I am in Chicago and purchased off eBay by negotiating via eBay and telephone. I don't have all of the extras, but rather a generic omega outer and inner (red) box). This dealer has one more. Here is the listing: http://www.ebay.com/itm/OMEGA-SPEED...562853?hash=item3f6745bb65:g:-n4AAOSwtnpXkWMRPurchases made through these links may earn this site a commission from the eBay Partner Network
I think you 'may' be able to get it for $2600 shipped. The best price I have seen on eBay is $2987 bottom line. Note, I am not affiliated with this dealer...just communicating my purchase last week and relative pricing.

 

$2500 USD....not a chance! You are comparing the wrong version to what he's looking for. Jomashop with an on-line coupon code will total $3300 bottom line if you are outside NYC and live in CONUS.

 

Yeah that's low but not a new watch and missing box and goodies. That's about inline for a 2-5 year old watch without the special box.

 

Thanks Foo. I confirmed it is a 2016 watch/serial number and I specifically did not want the box and extras. Those items sit for years in the back of the closet and are just not important to me.

This one is new based upon my 40x loupe inspection of the dial and case. The strap had very minor bends from being on the pillow in the box, but that could be expected....and you'll get bends as soon as you wear it an hour. Not an issue.

For reference, the best price I could find on the same model WITH the box, papers and goodies was $3000 bottom line from another dealer. This was a completely brand new, unworn model.

 

I've never understood why this model isn't more popular.

Great looking hands, applied logo...

 

Perhaps it is the 39.5mm case. Just 2mm smaller than the Moon Pro,but those 2mm make a big difference due to the thinness of the case. Also, pricewise, I don't see why it commands a premium over the Moon Pro. Hands?

 

Did you get a full Omega warranty? Without the cards you didn't. You got a further circa 10% discount over a discounted full set? That is in line with the % reduction in value the secondary market will apply to a loose modern watch. On a limited ed like the Snoopy or Alaska Prioject the lack of b&p can knock as much as 20% off the value. If you don't intend to flip it doesn't matter but you may find if you do that you get proportionally less than a seller with a full set so it is not the obvious win you portray. Yes the box just sits in the closet but the next buyer will want it for his closet too!

 

I was really intrigued by the FOIS, until I tried it on. For me, the big draw back is with the hands. They look great... when you can see them. They seem to easily disappear into the black of the dial. I want my watches to be very easy to read and for me, this one just wasn't. Here's a pic from when I tried the watch on. Not the best pic, but you can get the idea of the issue. I also noticed it in Hodinkee's review.

https://www.hodinkee.com/articles/the-omega-speedmaster-first-omega-in-space



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That's a lousy picture of a really nice looking watch.

 

No worries, it is a lifetime keeper for my 4 year old son who really likes it....knowing he can look at the moon and know this one went up there. He also loves trying/learning to wind it up before bed.

 

Friend, go with a current Speemaster Pro. It is the standard, classic by which all others are measured. Think of it like a Gibson Les Paul Standard, if you can relate to guitars....Or perhaps an American Fender Stratocaster in 3 color sunburst.