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Sotheby's auction - Omega Speedmaster: To the Moon and Back | Celebrating 50 Years since Apollo 11

bazamu
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Am I the only one who is a little on the fence about this auction? The Speedmaster is an icon by any measure, but it was also produced in relatively large numbers once you get into the Professional cases, and there are at least 20-25 lots in the 50 lot auction that can be found on the forums or eBay with a bit of patience. Obviously the lots such as the radial dial, 2915s, and BAs are great to see in the same auction, but I just can't help but feel that these thematic, single watch auctions are a setup for disappointment if the name on the dial isn't Rolex or Patek. The peanut gallery will expect every lot to blow away its estimate, and in reality, it'll likely be mid/low-range for the vast majority.

None of that is intended to throw shade at members who have placed their Speedies in the auction (and I hope you all get phenomenal results), but my opinion is that unless you're doing a very tightly curated catalog of extremely rare references (there's not a racing Speedy in this catalog, for example), you're banking on the auction crowd not wanting to do the work of sourcing fairly common references for themselves. I suppose we'll see if it works in a few weeks...
 
MSNWatch
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bazamu ChicagoFrog
Am I the only one who is a little on the fence about this auction? The Speedmaster is an icon by any measure, but it was also produced in relatively large numbers once you get into the Professional cases, and there are at least 20-25 lots in the 50 lot auction that can be found on the forums or eBay with a bit of patience. Obviously the lots such as the radial dial, 2915s, and BAs are great to see in the same auction, but I just can't help but feel that these thematic, single watch auctions are a setup for disappointment if the name on the dial isn't Rolex or Patek. The peanut gallery will expect every lot to blow away its estimate, and in reality, it'll likely be mid/low-range for the vast majority.

None of that is intended to throw shade at members who have placed their Speedies in the auction (and I hope you all get phenomenal results), but my opinion is that unless you're doing a very tightly curated catalog of extremely rare references (there's not a racing Speedy in this catalog, for example), you're banking on the auction crowd not wanting to do the work of sourcing fairly common references for themselves. I suppose we'll see if it works in a few weeks...

They should have been searching OF and contacting members here who own exceptional speedmasters. Many will not sell but some might. And they would have a more interesting auction. The mods bounced around the auction idea years ago but I wonder if it is time to reconsider this. OF hosting a once a year auction of top notch curated pieces maybe 10 to 20 in number might work.
 
CJpickup57
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MSNWatch MSNWatch
They should have been searching OF and contacting members here who own exceptional speedmasters. Many will not sell but some might. And they would have a more interesting auction. The mods bounced around the auction idea years ago but I wonder if it is time to reconsider this. OF hosting a once a year auction of top notch curated pieces maybe 10 to 20 in number might work.

I would annually save for such an occasion. I am not financially well off enough (yet) to pay auction premiums on top of current “retail” prices for certain watches.

I was actually thinking along the same lines as @Spacefruit was in regards to why established forum members are listing in this auction instead of here, but then I came to obviously the same conclusion as the consigner’s did, money in the bank (if lucky enough) is greater at a publicized auction in comparison to a collector based pricing group such as ours.
 
Cad290
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bazamu ChicagoFrog
Am I the only one who is a little on the fence about this auction? The Speedmaster is an icon by any measure, but it was also produced in relatively large numbers once you get into the Professional cases, and there are at least 20-25 lots in the 50 lot auction that can be found on the forums or eBay with a bit of patience. Obviously the lots such as the radial dial, 2915s, and BAs are great to see in the same auction, but I just can't help but feel that these thematic, single watch auctions are a setup for disappointment if the name on the dial isn't Rolex or Patek. The peanut gallery will expect every lot to blow away its estimate, and in reality, it'll likely be mid/low-range for the vast majority.

None of that is intended to throw shade at members who have placed their Speedies in the auction (and I hope you all get phenomenal results), but my opinion is that unless you're doing a very tightly curated catalog of extremely rare references (there's not a racing Speedy in this catalog, for example), you're banking on the auction crowd not wanting to do the work of sourcing fairly common references for themselves. I suppose we'll see if it works in a few weeks...
I have to agree with this. wish all the sellers the best but there doesn’t seem to be enough diversity in the offerings, really not that much that gets my blood flowing, and I’m afraid the results might be a bit disappointing.
 
Dero13
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All these rare speedies and no soleil or racings. Think they could use some more diversity than 6 2915s
 
marturx
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Spacefruit Spacefruit
So half the forum trying to sell to the other half, with 32% going to Sothebys.....

😗

No, I´m not trying to sell these Speedies of mine to the forum. I have done that in the past, a number of them. I was contacted a year ago about this auction, and thought that it could be a good way to go with these Speedies. After all Sotheby´s taking care of everything, and the sale is free from risk for me. Sold a Speedy on eBay once. Buyer claimed he never got it (but I think he did, but didn´t have to sign for the parcel) and made a claim. I lost a considerable sum, also eBay fees which they refused to refund.
 
nonuffinkbloke
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marturx marturx
I was just going to ask how many of us here that have a Speedy listed in that auction. Myself I have 4 😀

I think Sotheby´s made a great job with photos and descriptions 👍

Will be great fun to watch the auction

Well I understand, and share, your concerns regarding hassle and loss. I hope that you get really good bids mate.👍

but it's still difficult to swallow that at 4 x 32%=128%, at least one of your four watches is going for 'fakk all'! 🙁

What about private sale on Omega Forums and delivery in person?? 😕 Turn your auction costs into an opportunity to explore the world.😎

If you haven't got the time for that...😕... @Spacefruit bounces all around the planet! He'll deliver them for less than 32%! 👍
Edited:
 
JohnSteed
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MSNWatch MSNWatch
They should have been searching OF and contacting members here who own exceptional speedmasters. Many will not sell but some might. And they would have a more interesting auction. The mods bounced around the auction idea years ago but I wonder if it is time to reconsider this. OF hosting a once a year auction of top notch curated pieces maybe 10 to 20 in number might work.

OF still [THE] great venue to sell...Especially if a large chunk goes to the auction house!!
 
JohnSteed
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marturx marturx
No, I´m not trying to sell these Speedies of mine to the forum. I have done that in the past, a number of them. I was contacted a year ago about this auction, and thought that it could be a good way to go with these Speedies. After all Sotheby´s taking care of everything, and the sale is free from risk for me. Sold a Speedy on eBay once. Buyer claimed he never got it (but I think he did, but didn´t have to sign for the parcel) and made a claim. I lost a considerable sum, also eBay fees which they refused to refund.

Sorry that occurred. Certainly you don’t need blessing from anyone; understand a hassle free transaction and pure peace of mind is valuable too. Good luck with your lots!!
 
JohnSteed
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Cad290 Cad290
I have to agree with this. wish all the sellers the best but there doesn’t seem to be enough diversity in the offerings, really not that much that gets my blood flowing, and I’m afraid the results might be a bit disappointing.

@Cad290 no need to fear haha it’s practically July and results will be clear
 
Skrotis
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When you sell something timing is importent and if this was 2 years ago this thread would have been 4 pages
insteed of two.
A themed auction can be a good idea if it is included in a quality auction.

The art within the auction world is to lead the market not to follow.
 
Spacefruit
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Spacefruit Spacefruit
So half the forum trying to sell to the other half, with 32% going to Sothebys.....

😗

My comment was tongue in cheek, but has brought up some serious points. First I make no criticism of members consigning. It’s one thing to sell here but you need to know what you are selling and set a fair price, and be happy to deal with semi strangers for large amounts. Also if you have a special piece, you might think it will generate a fight and a high price.

It’s also fun. I am definitely looking forward to seeing how the outside world looks at our watches.

Consigning to this sale is going to be groundbreaking. The Christie's speedmaster sale actually only had 17 vintage speedmasters in it. This Sotheby's sale has good, comprehensive photos and while the whole thing is not perfect, and open to no picking, it’s a pretty good effort to collect and catalog this number of mostly interesting speedmasters in one place.

Which one of us speedmaster geeks would not wish to view this sale in person? It is an impressive collection of speedmasters in one place, no matter the shortcomings.

As far as I can see none of the lots are re worked in the case (Christies) or have fake papers ( Phillips) so already things are looking up. It’s a massive number of vintage speedmasters in one place. Anyone who can get to see them together should grasp the opportunity.

Is the market ready for this number of speedmasters? Valid question. We have some ordinary watches at slightly higher than market values and we have a lot of straight lugs and more 2915’s in one place than I have ever seen before. Who are the buyers?

And that was part of the gist of my comment. Are there a large number of speedmaster buyers outside this forum? Well if Sotheby’s do their job then there should be these new buyers - retail market if you like, or one time buyers caught up in there moon landing hype. In Europe we are economically shackled by the uncertainty of Brexit but in USA people are more bullish.

I am going through the sale myself and it is taking a long time to go through each watch. The photos mean I can really see far more than many auction houses allow and so there is less need to request extra photos. I have just finished the asymmetric cases so I can’t comment yet to the number and quality of the straight lugs but I suspect that most of the asymmetrics will sell.

The Alaska III is especially interesting as it is a rare watch but we have the Phillips example to contrast and compare.

The lack of Soleil, black racing and grey racing is no surprise - because I didn’t want to sell any. (Joke) - well not really - I don’t have them all . I think most owners of these very rare references are now collectors, and none of us want to sell them and if we did, the price is pretty well known among us and we don’t need to pay 32% to find a buyer.

So I think this sale is well done, well presented and while we can point out issues, this is a sale pulled together in quite a short time in a book that I for one want to own and keep.

It could go either way. It’s success boils down to how good Sotheby’s marketing is.
Edited:
 
Spacefruit
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And as I said, stay tuned. I am halfway through a revue of the sale, but it is taking some time....
 
marturx
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nonuffinkbloke nonuffinkbloke
Well I understand, and share, your concerns regarding hassle and loss. I hope that you get really good bids mate.👍

but it's still difficult to swallow that at 4 x 32%=128%, at least one of your four watches is going for 'fakk all'! 🙁

What about private sale on Omega Forums and delivery in person?? 😕 Turn your auction costs into an opportunity to explore the world.😎

If you haven't got the time for that...😕... @Spacefruit bounces all around the planet! He'll deliver them for less than 32%! 👍

Actually William has helped me deliver a 2998 Speedy, so I´m well aware of his globetrotting 😀

As he is a true Gentleman, he did it for free. But since, as I believe in returning favours, he hasn´t turned to me yet to get help with a pickup, I cannot ask him again for possible help with another delivery....
 
silverbitz
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I have a feeling it’s going to be a bit of a ground breaking sale with a few attracting extra attention. At the very least it will set some bench marks for the state of the market.
 
bazamu
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marturx marturx
Actually William has helped me deliver a 2998 Speedy, so I´m well aware of his globetrotting 😀

As he is a true Gentleman, he did it for free. But since, as I believe in returning favours, he hasn´t turned to me yet to get help with a pickup, I cannot ask him again for possible help with another delivery....

This is the 2998 that used to be @marturx's, which he handed off to @Spacefruit in Hong Kong, who then delivered it to me once he returned to Chicago. People helping people!
11.12.17-8.jpg
 
A
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Nobody mentioning the Omegamania auction is odd to me...Antiquorum said they would charge 5% total comission for the sale of my 2998-5 in November if I go that route. Even if there were plenty of questionable sea300's from WatchcoAustralia back in the 2007 or 2008 Omegamania, the catalog was vast and serves as a great resource despite the limits of variety for various product ranges in the auction.
It isnt a coincidence that the Omega Museum is being remodelled as official dealers struggle to compete with Omega Boutiques accross the USA/world, and I am surprised it isnt done for their theorhetically biggest anniversary of the moon landing yet.
I have tried to contact my friends at Omega to get thru to the museum about aquisition of my 2998-5, but they are in-hiding 😉
I am interested in the prices that will hammer in a couple weeks, but Sothebys said it was too late to get my watch into their auction, IE they were scared that it might compete favorably (?) against their sorta average lots.
Its interesting but an Omega nut doesnt get too excited about only seeing speedmasters- they do start to look alike even in the rarest models!
Of course not being able to personally order an archive extract is an issue- probably part of locking out new watches that surface before the big anniversary (speculation on my part).
Now that rolex stopped selling parts in the USA, Omega is poised to reap the gains, and has ballooned the number of OWME's in the USA sorta assuming there will be a need for them when all the dust settles and no stores are Omega dealers anymore...
Food for thought.
We all will be watching the auction like the elders amongst us watched the moon landing...
But if it was faked at a backlot in LA, then does the value of the speedy world drop? (Devils advocate again)
Ari
 
A
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Lot 36 has "hour-recorder creep", why wouldnt that be dealt with? Clearly an issue with the last servce
 
MCC
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It would be great to actually be able to see these Speedmasters in the flesh. The photographs are pretty good but there is nothing quite like having the watch in your hand.

One thing that did concern me though was that lot 9 had an asymmetrical bridge which I believe is incorrect for this reference and is not mentioned in the description. In fairness it could be in the condition report but I have not requested that.. I also wonder how they can be so sure about the dates of these watches too given that in general they do not come with extracts.
 
A
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No bracelet pictures?
Wow they dont have many detailed pics but the pictures are nice. I always worry about the auction house taking out the crystal for the photos
 
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