Omega Speedmaster FOIS CK2998, Sedna Gold - A good investment?

Bukem · Jul 31, 2023

Hi Guys,

I really fell on love with the Omega Speedmaster "First Omega in Space" "CK2998", Ref. 311.63.40.30.02.001 which is featured here:
https://www.hodinkee.com/articles/omega-speedmaster-first-omega-in-space-sedna-gold

As I normally do not buy remakes of historical watches but this one is simply stunning, I am just curious to know, what you guys think if that is also a good investment. I know it is not a limited edition.

Don't worry, I am not asking for an investment advise here, just would love to hear your thoughts.

Thank you!

YY77 · Jul 31, 2023

B Bukem
Don't worry, I am not asking for an investment advise here

B Bukem
I am just curious to know, what you guys think if that is also a good investment.

👎

Bukem · Jul 31, 2023

Well, there is a difference between an opinion and an advise, no?... if that the question related to the emoji 😉

padders · Jul 31, 2023

Well you sort of are really, I mean how else should the question "A good investment?" be taken? That aside, if you are talking about buying it at RRP then no it is not a good investment since you will lose money, a lot in fact. If you can buy it from a distressed seller for peanuts then you will make. If it is somewhere in between then I guess it depends. What I would say though it that I woudn't expect to see much upward movement on those from here. They are not sought after like the Snoopy or 321 models and even those are showing weakness in price at present. We are seeing a bubble gently deflating in many asset classes.

YY77 · Jul 31, 2023

B Bukem
Well, there is a difference between an opinion and an advise, no?... if that the question related to the emoji 😉

If you're based in the US you could also consider the Zenith El Primero G381 limited edition in the Hodinkee shop, that comes with 50 years warranty and includes services at a RRP of 19.2k, that is a great deal imho.

Aroxx · Jul 31, 2023

My understanding of gold Omegas, like padders already said, is buying new you will lose a bunch of money as it immediately depreciates. If you let someone else take the initial hit and buy used it should hopefully hold it's value but won't really appreciate. And if you want to eventually sell, of course that depends on finding a buyer which is a smaller market for expensive gold models.

Bukem · Jul 31, 2023

Thanks for your thoughts guys.

krogerfoot · Jul 31, 2023

As an aside, the photos in this article (which sports many of the hallmarks of the Hodinkee house style) are puzzling. Are these gold subdial hands invisible against the black dial?

Sorry, never mind—I didn’t notice the article was from more than six years ago.

Evitzee · Jul 31, 2023

It can be a good emotional investment, it's not likely going to be a good financial investment. What is more important to you?

I see three on C24 at pretty high prices, I don't think these come up very often.

Annapolis · Jul 31, 2023

Precious metal Omegas do not hold value well as a rule. Typically half of msrp/rrp is what you can expect on the secondary market. This particular model might do a little better than that since it's a Speedmaster. It's true that these don't seem to come up often, but I'd also be willing to bet that they sell very slowly when they do, especially when the seller overvalues. Right now I see one for sale on C24, and it's listed for 15k. Odds are it's been there a long while, and will end up selling for closer to $10k, if the buyer has a clue. (The other two C24 listings are basically scams: "Item Needs to be Procured." Good luck with that.)

If you can get one for around $10k, you probably won't get hurt too badly on resale and (who knows?) could even make a little money someday, but I doubt you'll get rich off of this. An investment? Doubtful. I don't think Omega is the right brand for that, generally, unless you get one of those unobtainium Speedies, and even those aren't as "investy" as stainless Rolexes and even those aren't the quick-flip-ATM-machines they were a year or two ago. Watches are not good investments for anyone who can't get something like an Aquanaut at retail price---and even that person might find himself finished as an "investor" once his Patek SA learns that he's flipped the watch. AMZN stock is a much better choice.

All that said, it's a nice-looking watch if you like yellow gold chronographs. Not sure where you're located. For what it's worth, if I wanted one of those, I'd probably contact some of the trusted preowned sellers around here and tell them what I'm after and what I want to pay, and then let them work their magic, expecting that it might take several months for one to materialize at a realistic price. I wouldn't pay a penny over $11k US.

gbesq · Jul 31, 2023

OP, repeat to yourself: "Watches are not investments" until it sinks in. You'll save yourself a lot of money.

Annapolis · Jul 31, 2023

P.S. I'm not just opining here: I myself own a precious metal Omega.

Bukem · Jul 31, 2023

Annapolis
Precious metal Omegas do not hold value well as a rule. Typically half of msrp/rrp is what you can expect on the secondary market. This particular model might do a little better than that since it's a Speedmaster. It's true that these don't seem to come up often, but I'd also be willing to bet that they sell very slowly when they do, especially when the seller overvalues. Right now I see one for sale on C24, and it's listed for 15k. Odds are it's been there a long while, and will end up selling for closer to $10k, if the buyer has a clue. (The other two C24 listings are basically scams: "Item Needs to be Procured." Good luck with that.)

If you can get one for around $10k, you probably won't get hurt too badly on resale and (who knows?) could even make a little money someday, but I doubt you'll get rich off of this. An investment? Doubtful. I don't think Omega is the right brand for that, generally, unless you get one of those unobtainium Speedies, and even those aren't as "investy" as stainless Rolexes and even those aren't the quick-flip-ATM-machines they were a year or two ago. Watches are not good investments for anyone who can't get something like an Aquanaut at retail price---and even that person might find himself finished as an "investor" once his Patek SA learns that he's flipped the watch. AMZN stock is a much better choice.

All that said, it's a nice-looking watch if you like yellow gold chronographs. Not sure where you're located. For what it's worth, if I wanted one of those, I'd probably contact some of the trusted preowned sellers around here and tell them what I'm after and what I want to pay, and then let them work their magic, expecting that it might take several months for one to materialize at a realistic price. I wouldn't pay a penny over $11k US.

Thanks for that, helpful. The question was not supposed to mean that I plan to get rich with that, more like risk mitigation, i.e. at which price could I resell and how quickly if things go wrong on my end. Thanks for answering those questions.

Well, I think I should keep on doing what I did, vintage seamasters rather than re-makes of Speedmasters.... 😉

joonian · Aug 8, 2023

I love a full gold watch and almost pulled the trigger on the green moonshine gold speedy at retail... I'm heartened by reports here that gold speedies depreciate, but I'm not seeing this reflected in Chrono24 list prices? Granted list prices are different from transacted prices, but are we to believe that gold speedies are changing hands for 10-15k usd?

YY77 · Aug 8, 2023

J joonian
I love a full gold watch and almost pulled the trigger on the green moonshine gold speedy at retail... I'm heartened by reports here that gold speedies depreciate, but I'm not seeing this reflected in Chrono24 list prices? Granted list prices are different from transacted prices, but are we to believe that gold speedies are changing hands for 10-15k usd?

There was a Speedmaster 3861 Sedna on bracelet (03 '22) listed on a local forum with a selling price of €28k (started at 30k), list is currently €45k but unsure it actually sold.

padders · Aug 8, 2023

J joonian
I love a full gold watch and almost pulled the trigger on the green moonshine gold speedy at retail... I'm heartened by reports here that gold speedies depreciate, but I'm not seeing this reflected in Chrono24 list prices? Granted list prices are different from transacted prices, but are we to believe that gold speedies are changing hands for 10-15k usd?

Show me a single watch where Chrono24 truly reflects the real world market.

Annapolis · Aug 8, 2023

With C24 you also really need to screen out those listings (sadly, many of them—for some references a majority) that say “item needs to be procured” or the like. Unless it says “in stock” and includes actual photos of an actual watch, the price data is totally useless. I wish C24 wouldn’t permit scammy listings like that.

Bukem · Aug 9, 2023

Annapolis
With C24 you also really need to screen out those listings (sadly, many of them—for some references a majority) that say “item needs to be procured” or the like. Unless it says “in stock” and includes actual photos of an actual watch, the price data is totally useless. I wish C24 wouldn’t permit scammy listings like that.

This is truely annoying on C24. The service is such is great and I understand the need for scale on their end but some quality checks outside the algos they use would be great.

NGO1 · Aug 9, 2023

This is the only gold speedy worth its asking. I missed the boat and now thinking of liquidate my stash of 5 Omegas for this.

Bukem · Aug 9, 2023

a true beauty

Omega Speedmaster FOIS CK2998, Sedna Gold - A good investment?

Bukem

YY77

Bukem

padders

YY77

Aroxx

Bukem

krogerfoot

Evitzee

Annapolis

gbesq

Annapolis

Bukem

joonian

YY77

padders

Annapolis

Bukem

NGO1

Bukem

Similar threads

19mm OMEGA 1565/976 Speedmaster Racing Stainless Steel Bracelet FOIS CK2998 1565 020ST1565976

Answering The “Dirty” Question — Is An Omega Speedmaster A Good Investment?

Forstner Flat Link Bracelet fully brushed finish for Omega Speedmaster FOIS/CK2998 (19mm end links)

Are speedmasters a good investment?

Omega Speedmaster First Omega in Space Sedna Gold FOIS 311.63.40.30.02.001 B&P

Omega Speedmaster 1564/975 19 MM bracelet, FOIS, CK2998, Racing Series