I spotted this one the other day and asked the auctioneer for more details, while pointing out a few concerns. Immediate email back with some low-res additional photos and not much more detail, but nil response to my comments or any since...

So - let's take a look at lot 666 (as if that isn't enough):

linky

It's got a 105.012 case back but what looks very much like a straight lug case. 321 serial number (22552197?) looks more likely to be a 105.003 vintage, and the dial, hands and bezel are all service replacements. The bracelet is a 1450/808 which is quite interesting but nowhere near correct for this vintage.

Hammer price was £3,700 + 30% tax/premium, so £4,810 / $6,700 / €5,500 + delivery charges to get it in hand.

What I can't decide...

... is it an outright Franken that's been assembled from parts?
... or a genuine watch that's been abused at service time(s)...?

Looking at the photos, there's a reassuring amount of crud built up, so it doesn't look like a dealer-prepared thing, indicating that if it was a deliberate Franken then maybe the wearer knew and didn't care, or was an unsuspecting victim years ago and thought they had a genuine article. If it's a service job, then, well

 

@ewand
This has to be categorized as a Franken, but that's not to say that it couldn't have been transformed over time during routine servicing by un-knowledgeable watchmakers. But in the end, this is a distinction without a difference.

 

WTF?

 

This may sound like hyperbole, but I’m not sure I’d spend $2,500 on that watch. The only way it has any value is if you have a straight lug speedmaster with a badly damaged case (but correct caseback) or an otherwise complete straight lug Speedmaster with no movement.

You have, in order of value:
1. A polished straight lug case without original caseback;
2. A 321 movement of unknown quality that may be corrrct for a straight lug, depending on results of an Extract;
3. A 105.012-65 caseback with bevel in ok condition;
4. A DNN bezel;
5. A service dial;
6. Service hands;
7. Crown and pushers.

Does the value equal $2,500 total? Im not sure.... $6,500 is silly.

 

Yeah, I'm with you there - I had thought if it was £1500 or so then it might be a decent buy as a parts watch, and unless the 321 movement was shot (apparently not, the auction listing said everything worked ), it's going to be worth a good bit more.

But $6,500. That's crazy talk.

 

In a 105.003 (or 105.012) that serial would be for a -64 at the latest, and too high for a -63. That doesn't look at first glance like a -64 case so my money is on total franken.

 

$2500 for movement
$2000 for midcase
$800 for caseback
+ the rest