Omega Ladymatic 1960s 18K Gold square 17mm

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Band plus watch = 17.5 cm

Thank you for welcoming my request to participate in the forums.

This Omega Ladymatic is from my in-laws estate and I've been tasked to learn more about it by the four heirs

I had the watch serviced by a watchmaker (I did not send back to Omega) and it is running fine.

This has (I think - see photo) the 661 movement which I understand to be an automatic movement - I was able to get it going winding the Omega branded crown and running a test - it is running nearly 24 hours on the same initial wind.

I looked on the Omega watch site in the vintage watch section - and there is no square ladymatic.

Please provide any thoughts on

1) Is it possible the vintage watch catalog is incomplete - it seems to be the "real deal" but I am not an expert.
2) Possible valuation
- I suspect melt value - the band and case are both 18K gold as per the markings - is 4-5K USD given a weight of 55-60 gms for the total watch. Similar watches list on eBay for ~ 8K USD but recognize the market for these old tyme ladies watches isnt as strong as other vintage
3) Any other thoughts on the piece which would help us to decide what to sell it for...

The four siblings are leaning to selling - which at some level is sad but in these types of estate situations makes the most sense.

Thank you in advance for your consideration

 
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Your logic seems to be more or less correct.

The value is almost exclusively in the gold. These are just not collectible watches that anyone would pay a premium for.

Omega made so many variations of ladies watches that it simply impossible to catalog them all.

gatorcpa
 
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Looks legit, but the dial is poorly repainted. Value is in the gold as noted above. Paying for a movement service was money wasted unfortunately. It's not a collectible watch, the original condition hasn't been preserved, so if there isn't any sentimental value, I would have no qualms about melting it.

Your best bet is to have the movement/dial removed, weigh the watch accurately, and call several buyers to see who will give you the best deal on scrap gold. If you can get 85-90% of spot for 18k gold, that will be pretty good. It seems like scrap buyers are being a little cautious at the moment given the volatility.
Edited:
 
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If the heirs sell the watch, I'd put money on it being bought by a scrapper. Sadly, ladies watches aren't all that collectible and this one is even less so with that poorly repainted dial.
 
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I personally respect that you had it serviced. Those movements deserve it. From an investment point of view that was probably not the most beneficial move.
Also the person writing the "OMEGA" probably either had one too many drinks or already painted 52 other dials that day.
 
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Thank you all for the responses...obviously a bit disappointing but I get it. I didn't really notice the mediocre dial work but yeah upon closer examination and comparison to similar on eBay....oh well.
 
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unfortunate that you spent the money to service this. Typically when selling vintage, getting it serviced doesn't get you your money back. On this one, it is even worse, where the movement isn't even worth very much to begin with (as there are more 'parts' movements than watches that need parts, thanks to everyone selling them off for gold), so whatever you spent with him was probably a waste.

EVEN if it was an original dial though, it doesn't change much of the math. Those older ladymatics aren't the 'style' anymore, so very few people will pay anything for them, other than to scrap.