Hi all,

I had a great experience buying a 2-yr old PO 8500 off Craigslist from a private dealer. Now, I'm on the hunt for a USED Speedy Pro. However, I see the used prices are very similar to a new, in box Speedy Pro from a reputable dealer (~$3500). So... What is a reasonable amount to spend on a relatively new model (2010-now)?

From recent ebay listings, I see ~$2900. No great deals out there. Why would anyone spend that much when they can get a brand new one for $3500? Maybe for $2500 I could consider used.... but not anymore than $2700.

Thoughts? We are talking newer models. Not vintage. Thanks

 

Resellers like Kingkley generally provide the best value Watch the "Watches for Sale" subforum.

 

Maybe it's because all they had was $2,900 in their watch-buying fund? If you only have $3,000 to buy a watch, then you can do $2,900 but not $3,500. The other consideration is that after you pay $3,500 for that new watch, if you decide to sell it you're looking at $2,900 coming back (after all it is a used watch at that point in time).

A. D.'s Axiom...It's going to be a used watch when I sell it or trade it. It may as well be a used watch when I buy it.

 

I would be worried about buying a used watch that is only a few years old. Why is it being sold? At least with a new watch you know exactly what is going on with the watch and it has a warranty.

Another few considerations:
-Getting a few year old watch means it is a few years closer to needing a $500+ service.
-Often a $2900 watch doesn't come with box and papers.

If you go this route, I would not buy on ebay. Too risky for a relatively small savings. If you have an opportunity from a trusted seller or source, then *maybe* I'd consider it.

 

Your points are well taken. I will simply say that for a contemporary watch, No Box or Papers = No Sale to me. As far as being closer to needing that service...you don't really know how long that "new" watch has been sitting around ready to be sold. I've bought many used watches that still had a year or more of OEM warranty remaining when I bought them. I recently traded an Omega CK2998 that still had a year's worth of warranty remaining. Thought I'd like the watch, but didn't really get along with it, so I traded it off. Sometimes people get shed of a watch because they don't like the watch after all. Sometimes they get rid of a watch because they just got in a little over their head (so to speak) buying the watch and they want to recover. And sometimes they need funds to cover an emergency of some sort and our watches tend to be fairly liquid.

I absolutely agree with you about buying from ebay. There are too many reputable places to acquire either by trade or purchase to spend any time on that site.

 

PM @Kringkily

Say “hey my man. I would like a speedmaster. what’s your best price for a bnib with full warranty?”

It will probably be better than anything you’ll find at an AD

If it was me, I’d say: ”hey my man. I would like a speedmaster. what’s your best price for near mint used 3570?”

But that’s me. And what I did.

 

I would respectfully disagree about eBay. Obviously it’s a case of “caveat emptor”, but if you check the sellers feedback, communicate with them before you buy, ask questions and see how they respond, you should be fine. If you follow the recommended process (PayPal etc.) then you’re fully covered should you not get what was advertised. Over the last year, I’ve bought 6 Omegas off the Bay and all have been fine. I’ve also got some great deals, because I’m patient and wait for the right prices. Case in point, a couple of months ago I bought a Moonwatch for £2750, bought brand new from Ernest Jones (AD in the UK) a week previously. Still had the plastic on it. Receipts, everything. That’s a saving of over £750 on RRP. I’ve also bought a mint SMPc which was only a couple of months old for nearly £1000 under RRP, and a PO with well over 2 years of warranty left for £1600 under RRP. The deals are out there.

 

The retail price of a Speedmaster Pro is $5250 US. So $3500 already represents a pretty steep discount. I think your price expectations are a little unrealistic. If you're vigilant and don't mind an incomplete set, you can maybe get one for around $2700. But you'll have to move fast when it's listed. at that price even a watch-only deal goes fast.

 

This is the reality. You've anchored your price expectation when the market has already discounted from the initial AD price.

My rule of thumb has always been that private and secondary markets will have anywhere from 20-30% discount.

$5500 (AD) to $3500 (grey mkt) = $1500 or ~36% discount.

$3500 (grey mkt) to $2900 (used private) = $600 or 17% discount.

I think the prices you see reflect appropriate market demand and supply. You may see some edge cases (and can wait for those if you wish), but if you want to purchase this soon then you're probably looking at $2900.

 

FWIW looks like a full set was let go for $2200. A steal.

https://www.ebay.com/itm/Omega-Spee...-311-30-42-30-01-005-Moon-Watch-/322866434900Purchases made through these links may earn this site a commission from the eBay Partner Network

 

I've bought watches that I wore for anywhere from a month to an hour and decided to flip it. Not new ones, fortunately, but it happens. Actually, more common with the used ones that you can't try on at an AD.

But I agree with your other comments, and I stay away from eBay these days, at least for watches.

 

I just went through the same process as you. At the end of the day I wasn't able to find anything for less than $2,700 and I wasn't completely thrilled with the offerings so I contacted Matt (link below). I decided to say screw it and spend the extra $800 and get a brand spankin new one with a new warranty card and all! I know $800 is a lot, but it provided me peace of mind that I wouldn't be getting some franken speedy or one that was in dire need of service.

https://omegaforums.net/threads/fso...-hesalite-311-30-42-30-01-005-new-2017.66019/

 

I watched another 2016 speedy with bracelet go for $2200 about 5 min ago. Granted, it only lasted about 10 min before it got nabbed, but they are out there if you know what you're doing and are diligent/patient enough to find them.

 

Is the wave of ever increasing prices receding? Sorry if this isn’t a popular opinion, but I’d love that. Would allow me to build a nice speedy collection.

 

I wouldn't count on it. Finding a dodgy seller on ebay with 15 feedback, all as a buyer, selling a speedmaster for a few hundred under market doesn't really constitute "prices receding"

One can trawl ebay for weeks to pounce on an under-priced speedmaster being sold by a junkie who stole it from his brother. But that doesn't mean that is the going rate one should expect to pay.

 

Yeah, I tend to agree with you here.

I think it's more that there are a ton sold, so naturally you're going to find a few at great values if you're diligently looking and patient. I have detailed saved ebay searches to narrow down listings as much as possible, and am in the habit of popping it open and scrolling through frequently. If you do it enough, you'll happen to jump in right at the perfect 5 minutes that a listing like that comes along and you nab it.

But, flukes or not, the more times that happens the more a knowledgeable person will be able to look at completed listings and say "hey, that one sold for $2200, I'm not going to pay $3200," and possible begin to drive prices down. Still wouldn't stamp it as 'prices are receding,' but it could be a little bit of a factor.

 

There are always "deals" out there but what are we talking about? a few per month on ebay max? How many Speedmasters are sold each year? If you combine New/Gray/Used... I have no idea, 10000 a month maybe? 2-3 "deals" on ebay will not move the market.

 

You are right. It was more wishful thinking on my part...

 

Lol. Yeah, you got us there...

 

I was searching for a speedmaster for a few months on this forum and one other.

I found a 2 year old head only for 2100 from a trusted seller (on another forum).
(This really worked for me because I planned to put it on oem strap and buckle anyway)

So deals are out there...