Omega 266

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Hi,

I just recently joined this forum. I purchased this solid gold caliber 266 “dress watch” about 7 years ago. I paid between 2 and 3K for it and have never seen another one close to it to know if I did good or not.

Either way, I love the watch and would likely never sell it. Would like to know the value for insurance purpose and how it gets distributed to my kids.

Thanks i
 
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Welcome.

Unfortunately the hands on your watch have been replaced and the dial has been refinished, which hurt the value considerably.

Do you have a photo of the inside of the case back?
 
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For insurance purposes, I think you would probably put a replacement full-retail value on it as if it were original, not the actual market value of the watch with repainted dial. There's a lot we don't know about the watch, but very roughly speaking, I think that $2.5k would probably do it, because it would allow you to replace it with something similar, but in original condition, from a dealer.

Just to give you an idea of dealer markup and the value of original parts, if you were to sell it, I think you'd have to be lucky to get $1k.
 
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if you were to sell it, I think you'd have to be lucky to get $1k.

Ouch, reality bites!
 
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Your best option for an insurance valuation will be to take it to a local jewellery outlet that does valuations.
They often have no idea about the true value/condition/originality etc of vintage watches and will base their assessment on what they perceive to be the right value.

This way you also have a formal valuation document for reference, not just a figure from "some guys on the internet".

PS: I agree with @Dan S and @X350 XJR regarding condition etc.
 
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I do not want to be rude but i think it's no need to pay an insurance for this watch.. except if you are a type of person who want to have all the assets with insurance 😀
 
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Thanks for all of the comments. Not the greatest news but nothing rude or hurtful. I have 6 vintage Omegas and this one was the most concerning. I had no way to tell for certain that the dial had been redone and now that I know, I’m not sure if I care. I buy watches that I like. Not for investment but for enjoyment. I bet we have all overspent in our day and instead of being embarrassed or ashamed, we just need to enjoy them for what they are. I will take the watch in to see about getting original hands.

Thanks for the information.
 
Posts
6
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3
Welcome.

Unfortunately the hands on your watch have been replaced and the dial has been refinished, which hurt the value considerably.

Do you have a photo of the inside of the case back?
 
Posts
6
Likes
3
Welcome.

Unfortunately the hands on your watch have been replaced and the dial has been refinished, which hurt the value considerably.

Do you have a photo of the inside of the case back?
 
Posts
6
Likes
3
Your best option for an insurance valuation will be to take it to a local jewellery outlet that does valuations.
They often have no idea about the true value/condition/originality etc of vintage watches and will base their assessment on what they perceive to be the right value.

This way you also have a formal valuation document for reference, not just a figure from "some guys on the internet".

PS: I agree with @Dan S and @X350 XJR regarding condition etc.
Welcome.

Unfortunately the hands on your watch have been replaced and the dial has been refinished, which hurt the value considerably.

Do you have a photo of the inside of the case back?
 
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13,431
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British national case by Dennison ref 13322.

Google "omega dennison 13322" and you'll find these came with a wide variety of dials.
 
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I do not want to be rude but i think it's no need to pay an insurance for this watch.. except if you are a type of person who want to have all the assets with insurance 😀

I think this is a very fair point.
 
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I have pretty much the same watch and also paid a little too much to.a.dealer for it notwithstanding the excellent advice from all on the forum. I got sick of nasty looking dials, and really like this dial lay out and rushed at it a bit. I am sorry to say that they arent really appreciating in value, but weirdly are quite hard to find in nice condition. a bit like my eterna centenaire. If you are keeping it I would try and see if you can get the correct hands when it gets serviced. as they look better imho. I do love the simplicity and elegance of.the overall thing. as others will know the last 3 digits of the caseback number should match the three numbers stamped into the case in yours on the back of the top left lug as you look at it in your photo looks to be 930 or 980. There is something endearingly british. about the low gold content and the simple but robust movement, local made case added to the strictly applied assay marks. we almost kid ourselves Omega is a british brand. it speaks of a bygone era when people were proud to get these for many years of service to one employer, and wore them for their Sunday best. mustn't grumble really keep a stiff upper lip and strive for modest respectability in trying times. might get away for a week in cornwall this year who knows, now that the rationing is over....... where would we be without the honourable decency and modesty of that generation, easy to mock their prejudices as if we have none, but hard to match their basic values. rant over
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