Speedmasters in AQ November 2025

I like Antiquorum. They have the largest numbers of watches on offer, and it is a little more wild west that the three other auctioneers. They get some flack for having watches with issues, but it also means we see many more watches, some with serious issues, and sometime a bargain when others are fearful to bid. Only three vintage Speedmasters this time, they often have more. Estimates looked low, so its worth digging in. An Ed White for $5575? Read on.



Lot 140 - 105.012-66
Estimate: $3,800–7,500 - Sold for $6,210



Was it cheap? At first glance, yes - I just saw one with a friend who paid $17,000 for the same reference - but on examination it was a much better example. This watch clearly shows the facet lines on the lugs.



Looking at the single image provided, I suspect the pushers are thin-neck replacements. It’s hard to confirm from the angle, but if so, I would downgrade the value by at least $2,000.


Again, the photo resolution doesn’t help, but the dial markers are clearly missing luminous material. Where lume remains, it’s dirty and uneven - a major downgrade in value.




I’d also want to check the bezel under a loupe, as the resolution doesn’t allow a proper look at the fonts. Although the bezel is damaged and marked, this no longer guarantees originality - counterfeit bezels have been circulating long enough to acquire a genuine-looking patina. I don’t think this one is likely a counterfeit, but I would want to confirm in hand.

I think the price was influenced by the pushers and the markers.

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Lot 141 - 145.0012
Estimate: $2,500–5,000 - Sold for $5,575



Hard to see the value here - it’s a service watch fitted with a vintage serial-numbered movement. The dial, hands, bezel, case, and bracelet have all been replaced, leaving little to attract the collector. The service case if undamaged, might be worth $1000 or less, and the movement $2500 max so its hard to see what is going on here,

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Lot 142 - 105.003
Estimate: $3,800–5,400 - Sold for $5,575


At first sight this appears to be another service watch, but in fact there’s some value here. It has a straight-lug case with a certified movement and a vintage 1035 bracelet. Three years ago, we might have valued the movement at $3,000, the case at $2,000, and the bracelet at $1,500 - though today those figures may be optimistic. That said, I sense a firming of demand for Speedmasters and their parts, so perhaps this result signals that trend.

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Lot 145 - “145.22-67” (sic)
Estimate: $4,700–9,400 - Unsold



The auctioneer made an error in the reference. Based on the calibre 321 in the description, it must be a 145.012, which fits the given serial.


Why didn’t it sell? First, the dial: the markers are flaky and inconsistent. The hands are poor, with much of the paint missing from the minute hand, and the chronograph seconds hand looks rough in the lume.


What I’d be examining closely is that pulsations bezel. A batch of reproductions appeared a few years ago, and they’re very hard to distinguish. The repros had the correct dividing line and are nearly impossible to tell apart unless viewed together, in the metal. The red flag here is the perfect carrier ring on a watch that clearly shows wear. On the other hand, the damage and patina near the “E” look genuinely old - leaning toward originality.


This watch highlights why viewing in person matters. In any case, I didn’t find it an especially interesting piece to buy.

I've used all of the big auctioneers, Sotheby's, Christie's, Phillips and Antiquorum. I would never use Antiquorum again, the pay date came and went and just excuse after excuse as to why they couldn't pay me the proceeds. Finally had to get someone with a little pull to force the issue. They were chucked out of the USA because of their practices. They may have unusual lots but their commercial side is horrendous. As a consignor, or buyer, I don't need the wild west, I need them to follow their terms and conditions, i.e., the contract. YMMV.

Yea there was a time when a lot of consigners were in that situation and it went on for quite some time. I'd already lost faith in them when contacting them about several really bogus watches, a counterfeit Neptune cloisonné Seamaster, a cobbled together Seamaster deluxe, and one other one in a short period of time.

All auction houses have watches reported to them as being suspect occasionally, two of these I remember happened at Christies while Eric Wind was there, when a concern was raised the listing was pulled from the catalog for further review and if suspicions confirmed, it never reappeared. That's a professional way of handling it, it's inevitable that some will sneak through but how you handle it matters. Antiquorum, when informed a watch was bogus either ignored the report or would make silly excuses, zero interest in correcting the issue or reviewing the item.

That said, while I agree with @Spacefruit that its very much the wild Wild West, if you know what you're looking at there are deals to be had, just be careful.

Thanks for sharing @Spacefruit !
Antiquorum do have a lot of Speedmasters on their auctions,
but they often have some issues....So maybe nothing for somebody looking for his first auction Speedy?
There are a few gems that appear, but very seldom..

And we have to add the 25% premium on the prices presented above!

actually premiums are included in the final sale price - although I converted from CHF to USD at time of writing, using x-rates