I am seeking everyone's input on the re-sale value of Omega watches. I am asking for an educated discussion with no brand bashing. The reason I ask is as follows: My very first big boy watch was a 2007 Rolex Submariner 16613, with a blue face. I love the watch and I got a great deal buying it pre-owned. My next one so I thought was going to be a Rolex Yachtmaster. After pricing it out, at the time I would've had to spend around $7k on a pre-owned one, I decided to wait and explore other options. I looked at the Omega Seamaster Planet Ocean 2201.50 and The Speedmaster date with the blue face. I loved them both and I could buy both of them in the Bahamas for around the same price as the pre-owned Rolex Yachtmaster. So I bought both Omega watches in 2011. I wore the Planet Ocean everyday. The black face and the stainless steel complimented each other and it matched all of my outfits. The blue faced Speedmaster Date was beautiful but I never wore it. Plus I had the rolex with the blue face. So did I really need two blue faced watches? I decide to sell the Omega Speedmaster since it just sat there in my safe. Now, the US MSRP was $3500. I bought it in the Bahamas duty free tax free for $2800. I was barely able to sell it for $2000 but I finally did find a buyer for that price. So now I felt somewhat heartbroken due to the loss of value.

Omega makes beautiful time pieces. Hands down. There are other watches that I want to buy, Like the Planet Ocean titanium with the blue face, and the Speedmaster Darkside of the Moon. But now I am very hesitant because of my loss of value. I was even considering selling my Planet Ocean 2201.50 and buying a pre-owned Rolex Submariner 16610 with the black face.

What do you all think? Again educated discussion please.

 

Hello,
Great question.
I market pre-owned timepieces for a living, there will be no advertisements in this post, merely advice from personal experience.

Every brand and line of style is different, looking at past sold values is the best way to judge return value. Two great recommendations:
1. eBay - be semi-specific and look at all the sold values for your desired line, explore highest to lowest.
2. Major auction house records - they will show estimations and with an account they will show the sold values. I recommend Antiquorum, Christie's & Sotheby's. There are more but I mostly use these three by personal preference.

It's tough to analyze returns on the pieces because it will fluctuate depending on reputability of seller, current market need, desire for that timepiece, original parts, box & papers and of course condition. There are more factors but these are broad ones to consider.

On a very generalized scale this is the wholesale market.
Rolex 20-30 off
Omega 25-40 off
Cartier 25-35 off
Patek 15-30 off

Those are new pieces with box and papers from authorized dealers. They receive them at that price then mark up a certain percent to sell it to consumers. This is where it gets tricky - the exceptional lines... A particular model for Breitling as new old stock have been sold (in 50k+ quantities) at 62% off. Same occurs with other models in all brands. Some brands, which I can't mention everything.. Sell 80-90% off.

I see timepieces as an investment, I buy almost everything pre-owned. The market for them is stable in comparison, they have had their fluctuations and eventually settle in a range after a year or two. In the end, buy what you like, do your studies on that model and get a feel for the return value by looking at 50 past sales through proven & true sources. Buying with box & papers is a huge plus, if you want to re sell it later on down the road you can easily reassure the buyer it has "trustworthy" origins.

Best,
Pinzon

 

@dsio Very True. I guess I was comparing apples to oranges, looking at it new vs used. Your explanation makes sense. Thank you.

 

@megamon Thank you sir for the detailed response. I def learned my lesson and will always buy pre-owned from now on.

 

Personally, I buy a watch because I like it , and don't worry about percentages if I decide to sell it.
Modern Omegas are never going to be investments.
If you are that worried about losing money then you should invest in some old postage stamps or a 60's Ferrari.

 

A 1 to 3 year old watches are the best target. Usually its guarantee has expired but if it is a high quality watches you wouldn't be too worry.
Closer to 5 year old watches and beyond, you have to add service cost to your purchase price (in other word, negotiate harder).

In general sporty Rolex & Patek hold their value well.

 

Great points all. Buying new and then selling within a 5 year time period will almost always result in a loss, UNLESS you time it perfectly with a manufacturer's price increase.

 

In addition, some of the styles of yesteryear are some of my favorites, such as the modern Railmaster. I almost always buy pre-owned.

 

I generally find that going the pre-owned watch route is the best option as the prices are much less than the new watches and that you can have a larger selection of current and non current models to chose from.

 

I might be oversimplifying, but here's how I approach resale on any watch:

Starting with full MSRP, there are three typical reductions in value.

First you have the retail discount, or what you could expect to pay from an AD. With Omega, it is usually 15% 25% off for most steel models.

Second, you have the initial depreciation hit. This is the amount that is subtracted the minute someone buys the watch. This is why I strongly prefer to buy pre-owned - someone else absorbs this. It goes from BNIB to LNIB and a further percentage comes off. This is where you see a lot of impulse buys ("catch and release") being flipped on the forums. The amount of this hit varies widely among brands and has a lot to do with both how popular the model currently is and the reputation of the seller.

Third has to do with condition. The more time that goes by, the less warranty there is, the sooner a service might be needed, there are more scuffs and scratches, etc. This part also varies by brand and seller but is also highly subjective.

 

Why not look at a like new used Omega? I have been on the look out for a Good Planet and at the boutique they are asking $8600 USD new (if I recall correct from my visit 1 month ago). I found one on ebay that was new for $5300 USD. I also made offers on some used that were like new condition. Both offers were countered, one at $4900 and one at $4750. Just this morning I lost out on one in "pristine" condition, my bid was $4,567,89, but it sold for ~$4650. I believe in all cases these watches were all less than two years old.

In any event, just making my case to buy used in like new condition.

 

In general - and this is based solely on my experience - a watch's low point in value is between 10 and 20 years old. If it's a decent popular model it will usually start to swing back up in value after that.

The only time I buy new is if I'm sure it's a keeper..... meaning I've had more than just a casual glance at that particular model. Might have owned a used version before, or tried it on in a boutique / AD and wanted a different dial color, or maybe have worn a friend's at a GTG. Over my whole watch collecting / flipping career I've owned literally hundreds of watches. I averaged 2 dozen ins & outs per year. However, the amount of brand new watches I've bought is in the single digits.

 

All the vintage Speedmaster Professionals have been rising lately and this is a trend that, I believe will continue. The 50th anniversary of Ed White's space walk, wearing the 105.003, is 3 months away. Over the next 5 years, media attention will focus on many golden anniversaries from spacewalk to rendezvous, docking, tragedy of Apollo 1 and wonder of Apollo 8, 11 and 13. All the space and moon references will continue to rise.

That being said, the 1970's post moon, flat dials, 145.022-74, 76 and 78 are still rather affordable and are the last speedmasters with imprinted casebacks. I think these references have great value.

 

HI
I have a watch, omega, I do not know when it is made, it works perfectly and I would like someone to tell me how much
and to be able to sell it, you help me, thank