Hi all, im new to this Forum and am looking forward to being a part of it.
I’ve found an Omega Speedmaster Mk 40 which appears to be in good condition besides some fading on some parts of the tachymetre. The guy is asking $4,250 AUD, but is willing to bring it down to $3,950 AUD. This will be my first watch over $400 as I have some seiko sand timexes, but I’m looking to step up. I love the speedmaster and I feel like this is a fun way to get into them!! So do you guys think this is a good watch? Is the price too high, Too low to be legitimate, Or about right? Is there anything I can do to make sure it’s legitimate? And also out of interest... dose the Mk 40 have anything to do with the speed master reduced or are they totally different as I have been told to avoid the reduced.

Thanks in advance for all your help!!

 

Yes that is a very nice first Omega if serviced and healthy, there are no skeleton in the closet with the Mk40 as it uses a Valjoux/ETA 7751 derivative which is a lot more highly regarded than the compound movement used in the Reduced. That price sounds pretty high though. I would want that even from a dealer at no more than $3K AUD, but the recent Hodinkee re-edition has pumped prices on these a lot so $3.5-4K AUD may be the going rate now. Just make sure there is proof of recent servicing, otherwise add in around $500-1000 for that, which makes it a silly price.

 

Welcome to the group.
Agree with @padders on all, particularly price- seems a little high but the market has sky-rocketed on these since H-kee stuck their grubby little fingers into the pie. I personally love the mk40, one of the most fun of the Speedmaster variants IMO and on my short list..if I can find one at a reasonable, not-hyped price.
Used dealers are always flexible, and if you can show him completed ebay auctions that support a lower price, plus mention the $500-$1k for the service, he may come down just to move it. If not, leave your name and number and he may change his mind if it sits for a few more weeks.

 

I entirely second what the others said, for me and just price-wise this MK40 is a bit to high (would feel more comfortable with it in combination with box and paperwork). On the other hand prices are rising up constantly for this special piece and if one got hand on such very rarity than paying certain agio could be considered beeing worth it. But this more for collectors rather than for starters to that sujet imho.

But if not and you're open for a nice alternative to the MK40 then have a look at the younger chronometer sisters of it, such as 3210.52.00 or 3210.51.00 and the rest of the gang.

Really nice and affordable (around 2 - 2.5k€) time piece and even has a better availability.
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Price seems about right comparing eBay sold prices. But that’s me using conversion rates. Probably best check eBay yourself or chrono24 for recent sold prices. Price for this piece has shot up recently.

Nice watch though, it’s like a flightmaster, speedmaster love child.

 

This was sort of an unloved model for a long time, until the Hodonkey thing...

Never really appealed to me personally, but I agree with the others that it's priced quite high.

 

I recently sold mine for 1800 Euros, I think the coloured model is way overpriced but the market creates the price.

Kind regards Max

 

Thanks to all! I appreciate the feedback, I’ve looked on Chrono24 and there are some closer to $3,100 in good condition, so I agree that it’s overpriced. I’ll do a bit more digging, then I’ll go back to the seller and give him an offer.

Thanks again for all the help!!