Those of us who have been doing this for a while might recall the Omegamania auction in April 2007 - which proved the power of hype and advertising over reason. In any case, I was reminded today of the auction due to a watch I found for sale on a dealer's website. This is a 145.020 soccer dial chronograph which sold as lot #146 in the Omegamania auction. The dealer is asking 4500$ for the watch, so I thought it would be fun to go back and see what the watch sold for in 2007. With the buyers premium, the watch cost 5,900CHF. In 2007 that was just about 5000$. Using a purchasing power calculator this comes out to around 5600$ today. So bottom line a loss of about 1100$ over 8 years. Which reminds me of the adage "you didn't overpay, just bought too early".....but how early is too early
I remember the build up, world tour and auction very well, I thought I was going to be able to stop working and pay the house off.... ....for a very short time anyway But back to the soccer time, $4500 in my mind is an overly ambitious asking price so the "negative profit " realised could actually turn out to be much greater. A perfect example of marketing hype over substance, tulip anyone?
An auction, in 2007 in Geneva, put together between Antiquorum and a few Omega collectors, featuring only Omega watches. The catalogue is a nice reference manual and sells for a good amount. Here is my soccer timer, acquired for a lot less!