Speedmaster 2998-1 on auction today....

hansaboy

@Davidt - do you want to have a go regarding assessment on this watch (if you have the time and patience...)?
Im always curious regarding new stuff! 😀
And It feels like you have a Ninja feeling regarding this ref nr?

Davidt

Well I’m certainly not a ninja on these early Speedies but I’ll give my opinion. Is the question why was it cheap or why was it expensive?!

The dial, hands, case, bezel etc look correct and in reasonable condition (don’t forget the rarer the reference the less picky you can afford to be) and there’s not doubt the dial is tropical. It’s hard to judge the condition of the case from those pictures as there are none showing the sides.
However, my issue is that whilst all the parts appear correct and original, the watch doesn’t sing to me. So whilst on paper a correct and tropical 2998-1 may be expected to go for a higher amount I think in this market, thats probably about right.

watchyouwant

collectors do not cull a surviving watch like this, or ?

Mods

I went to the viewing and it did look better on the wrist. Most of the watches went for low estimate or were passed. The stand out lot was the Cartier pebble that hammered for £190k.
And in my opinion whilst nice in hand I didn’t really like on the wrist. Probably as I'm not used to wearing a hidden lug watch.
Same with the Cartier crash, the lugs are in the middle and the pointed end of the case didn’t sit flush on my wrist...although I wish I didn’t try it on as it hammered for 27k in 2019, they seemed to keep doubling in price for a little while after that.
Now the Cintree...that’s is a different story entirely; a 101 year old wrist wrist hugging masterpiece.

Sorry slight thread drift! But yeah best to see them in the metal if possible.

TheGreatKat

It's quite tired example but nice entry level for someone who's looking for such a chocolate brown dial (which I love?). Of course this one is far from perfect but we saw how much people can spend for a very nice ones. On the other hand you can find very beautiful -5 and -6 ones in this range od money. Of course those 1000 base bezels are expensive addition but in this condition I'm not so sure about it. So the question is what would you choose? Such a watch like at Bonhams or better preserved (and not chocolate brown) later reference of 2998? I don't know 😟

Spacefruit

This watch was cheap - but with good reasons

it is complete, correct and interesting dial colour.

however, the dial body has got some issues - it is quite usual for browns to be imperfect but this one has several areas that would concern me, with splotches and damages. It’s a lovely colour, but not the best body.

the plots are terrible. I wouldn’t be surprised if we see it re appear after a Holliday in Italy looking all pumpkin and cookies in a couple of years, the re-lumer hoping we forget it.

The alpha hands could be original, but I don’t like them - the slots are square ended and the decay on them could be contrived - it doesn’t matter to me as I don’t like them, so wouldn’t attribute value to them. To illuminate the point, I would add $5,000 to $7,000 to this valuation if the hands were attractive correct triangle lume.

vintage Base1000 bezels are often not pleasant to look at when in aged condition. This is one of those.

the bracelet does not contribute value.

this is an attractive watch with issues that will be a pleasure to own at a price, which here is about $23,400

I have seen recent sales of 2998’s (3+, so DO90 bezel) with black dials and in very attractive condition selling for $29,000 to 35,000.

when I looked at this watch, I had no desire to own it - that quality is why it wasn’t fought over.

@watchyouwant ’s assessment is spot on, alone with the sentiments about the current market, and the way he is feeling about cash - I think three years ago I would have jumped on it, but today I am holding back on slightly speculative pieces like this

Dgercp

And I have seen much worse base 1000 bezels

kaplan

I still don't understand how one is worth millions, and another is considered expensive at $20.000