I chime in.
The dial, the heart of the watch, is poor. It is damaged in the black body colour, with a feathered effect covering 60%(?) of the dial. There is a blister on the minute subdial. There are two marks on the step near the 6 o’clock. This is not a good dial at all, but it is correct.
The markers show some leakage around the plots, which themselves being weak in colour and lacking lume coverage in most. The white print and track are intact.
This dial condition can lead to an attractive look but that will be up to you to decide. For me it’s only attractive if very cheap.
The bezel is poor, but correct. It is damaged and faded. Again, this can lead to a look some like, it’s up to you.
The case has seen attention. It’s hard to tell from the photos, but I think the lines are blurred on the mid case, and as others mentioned the back has lost its original profile and the hippo. This would be impossible to rectify. You might be able to rescue the mid case (To an extent....) but nothing can be done for the back.
The hands are slightly miss matching, with the Chrono hand showing a slightly different colour lume. Indicating it might have been replaced at some point. (Not surprising). However they all look correct and could be a lot worse in a watch with these other issues. The hands are not an issue with the value in this case.
The crown looks 24 and the pushers fat neck, a massive positive for a 105012.
Without seeing the movement, you are taking a chance at this level. While it’s a low chance it’s not an omega movement, it is existential at this level, so I would want to see it, and even buy subject only to an extract - it’s so quick now. (Replacement 105.012 movements are $3,000-4,0000 so if it’s wrong it’s going to put you deep in the red).
For the movement check the screw condition, and cleanliness. Also check the colours of the bridges (that they look similar). If you know what to look for look at the oil in the jewels but if you have a service document it should be ok, assuming it’s actually from Omega, which I doubt.
While you are at it check the inner case back for the reference, service marks and any corrosion at the lip.
Think another way. If you broke this watch up, could you even sell the parts? Well I doubt it - not for much. Each part is poor, with the exception of the pushers and crown - but it’s very hard to successfully change those pushers onto another case.
In summary, this watch is poor, but it might be attractive and enjoyable at the right price. Is $7,000 cheap enough? Well if you buy it, do you think in 6 or 12 months you can get your money back? No I don’t. I think the price is more than the sum of the parts if sold separately.
This quality is the first to fall out of favour when the FOMO crowd leave a market, as they have done, leaving the previously bubbly Speedmaster community. We are back to serious people buying serious watches for serious money, and enthusiasts buying and wearing cheaper examples for fun - rather than money-parking. This watch is for an enthusiast to wear hard, and economically. It needs to be inexpensive.
I just saw a 105012 sell for $22,000. So the market is not falling as some propose, rather it is becoming mature, with fine watches selling for top prices, while poor, damaged or over worked examples are falling right down. What about the 22,000 watch, can the buyer sell it in 6/12 months for near or what he paid for it? I am sure.
Trouble is the sellers of the poor to fair watches may have to learn that (painful) lesson slowly.
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