If I bought this at the advertised price at this point in time, any enthusiasm I had for this watch would disappear each and every time I took a glance at the lugs (and the bezel)
The lugs, in my opinion are irretrievable. The curved planes have been flattened, the lug ends are rounded and it seems to me from these photos that on the upper faces, enough heat has been generated through polishing as to have altered the composition of the metal surface finish. Looks more molten than polished.
Removing any more metal is not going to fix this problem.
I don't think the lugs are quite that bad, the general shape looks good (although I haven't seen the original listing). They just have some surface scratches, which prevents it falling into the collector category.
I know I am being picky, but the exorbitant asking price demands that of me.
The photos indicate that there is more than just wear when it comes to the case.
The watch is neverthless very beautifull compared to others for sale now. This reference is rarely available for sale and they are getting harder to find in good condition. The price is quite expensive but due to scarcity one might argue its value.
agree with Gemini4 and E-diddy, both are fine. it's like the FOIS, but better (excluding the second subdial which had a leaf hand for some reason on the FOIS).
The watch is neverthless very beautifull compared to others for sale now. This reference is rarely available for sale and they are getting harder to find in good condition. The price is quite expensive but due to scarcity one might argue its value.
Market price of sold watches in ebay is aproximatley 15000usd for similar grade. Speedmaster101values them at 14000usd. Therfore asking 22900 is 50% higher.
Remember that speedmaster101 price chart, which is from May I believe, is for the head only. You would have to subtract the value of the 7077/6 ($2,000 ish) from the store asking price.
Original good condition ones are a rare part of the original group.
Dealers have been becoming interested in Speedmasters, and obviously the larger values of 2998's mean more actual profit per watch. They don't get fat on 145.022's.
I see almost no privately offered 2998's from original owners. A few are coming from collectors, but frankly these are not ones I would like to buy, reminding me of watches I bought early on, usually from a dealer who had.....how do I put it....improved it?
These dealer watches often worked on by people without parts, or the knowledge that we now almost take for granted, (pusher sizes, asymmetrical bridges, Spear hands, even T marks and DO90).
Dealers are asking prices north of $15,000 for watches that might command $7000 two years ago. And as I said, these watches from dealers rarely have the charm of a owner sold watch.
The past few months have seen some real bush-pigs masquerading as nice 2998's. Miss-matched movements, poor or incorrect dials, repainted or incorrect hands, the list goes on. Some of the prices have been high, but not many sales completed. I did buy two parts worthy watches for around $6000 in total, but that is rare - I was lucky, and yes, both were on Ebay - you lot missed them!
Confirmed sales of "good" 2998-3+ in the last three months have been from $8000 to $12,000. These are all private sources not dealers. There may be dealers out there getting better prices but I am sorry to say they have not told me.
I myself bought a beautiful owner watch and I paid the most I have ever paid for a 2998-3+, at $15,000. It was in better than "good" and has a very good dial.
For me, when I see a good dial, my wallet opens. I know others want the case too, but frankly, I don't see good cases on the market.
Now I think we are entering the time of the $25,000 CK2998.
For that money I expect a very good watch, no parts problems, and unmarked dial, and a case that looks good even if it has a little wear. I think dealers will place these watches on the market, and through auctions, and set the market, as there is o longer a supply of 2998's coming into the market from the public.
That said, I expect a lot of assemblages to come onto the market too, as the price rises.
Interesting feedback Spacefruit. When you say the 'time of a $25,000 2998', do you mean through dealers? There have been a few sold on the forums earlier in the year in that $8K-$12K range. Will the odd private sales bump up from there as well?
Buyers determine the price of everything on the market that's just a fact of business.
Well that is true but with a very important caveat.
If the supply is finite, then the market will be set by not only the buyers, but by those who hold the stock.
See what your saying Spacefruit but if buyers dont pay then the stock is useless.
Granted you will always get some guy who will pay over the odds but Joe Blogs wont and cant.
The promise of the early speedmasters is due to diminishing supply and increasing demands (some from rolex collectors). I get about 1 unsolicited offer a month to buy speedmasters from me.
Well that is true but with a very important caveat.
If the supply is finite, then the market will be set by not only the buyers, but by those who hold the stock.
Agree, when supply is tiny & finite as it is in the vintage market for desirable pieces and demand is strong, sellers have the bargaining power. Where else are you going to buy that grail 2998 or Rolex 5517 milsub? I wish the prices recently for the 2998 followed the chart, but demand still remains strong and supply weak.
This 2994-4 sold for 21k.
The 2998-5 this dealer was selling sold on ebay sold for $13k (they were asking 15,5k). Had issues, I passed.
The 2998-61 on ebay sold for 15,1k
