Phillips auction Speedmaster - a 3.000.000-fake?

He revealed that the Speedmaster was assembled from components from various watches , including ones that were later revealed to have been stolen from the Omega Museum.

And behind all this is the big question: How common are such practices? Hardly anyone in the industry believes that the Speedmaster affair is an isolated case.

Some interesting takes from the article

Quite possibly. It seems that anyone who touched that poisonous watch has been or will be shown the door at Swatch.

My guess is that they all got a nice extra payment in exchange for an NDA signature on the way out.

They are training new watchmakers every day at the Hayek School here in Miami. I'm sure a couple of them will be making their way to the Vintage Department in Bienne eventually.
gatorcpa

Very unlikely given the strict immigration laws in Switzerland...

I would be perfect for the job. Too bad that is not how the world works.

In the city where I live, there is a national monument run by the national park service. There is also a deep sense of history. I became a student volunteer and the historical site, and a student member of the board of directors. I was wanting to go into museum studies and archival work. The state passed something called proposition 13 which cut funding for such programs. I went into computers and electronics instead. With the idea of using computers in film making and theater.

This was also the era of the big museum shows. King Tut, Van Gough etc. I applied for a job and was granted an interview. When I entered the boardroom. There were a bunch of old guys. I saw their jaw drop when they saw me. They said I was much to young for the position. Still they were impressed by my resume. I would have been the director for something called the 'Splendor of Dresden.' Museums always fascinate me. At the same time I felt betrayed. That I could not do what I really wanted. That such things are a closed network. I gather the museum world is competitive and cut throat. There is no room for naivety.

Did go onto work for a computer retailer, even got an so called pre-aprentiship At the local film studio (Then called Sprocket Systems.) Eventually I went to work for Apple.

But it was really a museum job I wanted. Truly my dream job. I think that is why I went on those collector trips, because I did get access to the basements of some of the European museums, and the Zwinger for more time with my favorite Vermeer. Not to mention VIP treatment at the Omega museum. Well I was wearing 10 omega watches. 5 on each wrist.

As I have said here often, the older I get the more I question free will. When I worked with Steve Jobs how much choice did I really have?

I guess this is what makes the story of the corrupted Omega employees so fascinating. What makes a person qualified to do a given job? I just got back from a screening of Oppenheimer. As I noted I met Frank at the Explorotorium, where he told me about lathes. After that I wanted a lathe (Now I have 5.) I worked on Teller's apple ][ computer. (he was old somewhat hard of hearing and a bit blind.) A corporate party at the Lawrence Hall of Science, I discovered interesting thing in an out of the way corner of the exhibits. I always found it sad he took his own life (rather than deal with the effects of radiation induced leukemia.) On the other hand I am a direct product of the vision of Frank and Ernst. They wanted to teach children not to be afraid.

So much of the modern world seems to be based on the power of fear. Jobs used that power. Most people were afraid of him. Ironically if you did stand up to the intimidation, he also had the power to reward.

I am not sure I ever have forgiven those old museum directors. To steal the dreams of youth.

Did someone steal the hopes and dreams of the Omega employees?

As an older person, I have also had many reasons to question my control over life. I would say that I have free will to decide my own fate, but I don't control enough of the factors that ultimately determine the outcome.

The Omega employees made their choices and have to accept the outcome. There is more peace of mind in recognizing that no one is to blame for my screwups except myself. People can be deceived and misled, but we make our own choices.

We'll probably never know how it all happened. I don't think there are very many completely innocent or completely evil people.

What happened to you sounds different. It sounds like you were not given an opportunity because you didn't fit the mold. That's understandably frustrating. Thinking of what you could have accomplished for them, it's their loss.

Interesting that so many were implicated. I wonder if the price went so high because Omega or someone on the heritage team at least knew it was bent and realised they had to buy it to control the situation. That hasn’t gone too well if so. I wonder how many other similar watches have been cobbled together and sit unsuspected in high roller collections. I also wonder what those who used to so vocally defend the extract process when it was challenged a few years ago for its many inconsistencies have to say now. I may go back and find those posts to see if there was any less than honest self interest at work.

The system has been proven to be unreliable at best, corrupt at worst, I’m not sure how they can come back with anything like it in its present form to be honest. I was reading an article recently about the widespread fraud present in the vintage Whiskey trade where much of what is considered the creme de la crème is in fact fake. I wonder if we may be lifting the curtain on similar here.

If you make a thread out if it, I would definitely read it...

There is a film called Angel's Share about fraud in the whiskey business.

Sour Grapes (wine) springs to mind too. Seems like any business involving high value, irrational, purchases into scarce goods, is prone to have its integrity challenges.

Thanks. Very interesting

Lets see the performance in Geneva across the board, but specially in Phillips, who have chosen not to offer any speedmasters...