Omega SM300 Ref. 165.024

Hi all,
This is my first post in the forum. I would like to present you one of the Omega of my small collection and also ask your opinion on the watch and whether it make sense to invest some money to source its bracelet. Here is the watch:

• Reference 165.024
• Mark 1 early Bakelite bezel
• Gilt dial mark 1
• Baton hands
• Caliber 552
• Serial 20.29x.xxxM
• Plexy dome with the omega logo in the center
• Crown … I think this is a replacement one.

Now, the watch is in good condition in my opinion, and I do like it. What is your opinion? Anything obviously wrong with it?

The negative side of the story is that, when I asked Omega for an archive extract, it came out that the movement does not match with the watch. According to the extract, this movement was originally mounted on a 165.001 sold in January 1964 in Saudi Arabia. I guess the chances that the extract is wrong are close to zero …

Now, the bracelet question: I tend to prefer watches with metal bands and I am debating whether to get one for this watch. What holds me back is that the movement issue: would it make sense to spend money on watch whose value is undermined by such a non-matching movement? I think that right bracelet would a 7912 with 16 endlinks, and this is a rare and expensive one…
Thanks for your help
Marco

The crown seems to be a replacement. It's a really nice and correct watch.
Was usual in the past to replace the complete damaged movement during a service if the watch was flooded.
If you want to buy a bracelet like 7912 or 1506, buy it without problems 😀
If you decide to keep the watch for you, you'll enjoy it!
If you want to sell in the future, you can sell separately.

Sorry Guys, then you are telling me that in the past omega (or some indipendent watchmakers) was replacing the movement when some water get into the watch and was causing some damages??

Hi Marco

It is an attractive watch. The issue is the movement - as you say whilst the movement is the correct 552 cal., it’s not from this watch. There are two possibilities:

(1) it’s a diving watch, and as @Cuttysark says, it is entirely possible that water flooded in, requiring a movement change, probably by an independent watchmaker. This could also explain the crown being replaced

(2) or, someone put this together deliberately, from parts - which if they did, seems to be from at least some nice parts.

It all depends on what you want to do in future - if the movement issue doesn’t bother you, and you intend to keep it, then buy and wear it with a bracelet - and if you ever sell then you can always sell the bracelet separately.

If you intend to sell it, then the best thing is to be honest and disclose what you know, which may limit your market amongst collectors. Or you could separate out the parts and sell individually- which could still get you a good return.

Yes, it happened in the past.

Well, I think it unlikely that Omega took a movement from a completely different model that had been previously sold in Saudi Arabia, put that movement in a different watch, and then didn’t update any of their records. It’s possible, but not probable.

It was most likely an independent watchmaker - which will affect any future resale value for collectors and hence my previous note.

Fair enough Guys!! Thank you very much for the answers!!

Thanks to all for your answers!!! I am still undecided even if I am leaning slightly more in favour of the bracelet options (when I will have the funds for it!).
It is a shame about the movement swap issue. I don’t think someone put it together (patina of hands and dial match, caseback date is somehow consistent with the early bezel type) but this is just my opinion and I could well be wrong.
I prefer to believe it was swapped during an ‘unofficial’ service!
Thanks again!
Marco