There are over 40 pages of DMs between myself and Dre on OF plus even more on whatsapp, so it is very time consuming to try and wade through everything and find the relevant communications, then edit out what is not relevant, while still keeping completely accurate, etc......
This Spillman UG is the first watch in question of the two purchases. At the time, Dre was trying to fund a purchase on a Jeager watch that was time sensitive, and
I was trying to help out with coming up with funds. Half way through the deal Dre passed on the Jaeger and was instead going for Rolex 6542, which was even more time sensitive on funds, so things were moving quickly, and
for me it was more just trying to help a buddy go after their grail watch, rather than being really interested in the particular watch myself.
(Before it was even serviced and back to me,
I was already clear with Dre that I didn't want to keep it and needed his help to buy back or sell and recover my funds).
View attachment 992992
In terms of a little backstory, prior to this point
I had purchased 12-13 watches from Dre and never had any issues, so I assumed that I could trust him completely. Also all the valuations he had given me on those watches had been completely accurate up to that point, so again I felt I could trust that his valuations were accurate. Lastly, there were no market comps for a Spillman Compur 30 with a big scratch, so there was no way for me to "verify" market value.
Here are communications via DM on OF from that time period......
NOV 22 2018
Hi Ben,
Would you be interested on a project rare black dial Compur 30 UG Spillman by any chance? I think I'm going to make a run for the Jaeger by selling a couple of my watches that are still at my watchmaker.
Best
Andre
Hi Ben,
The watch is running, but it will definitely need service. Blake can get this done easily in the US, he did my gold Compur 30 as well. There is a scratch on the dial, regular wear and tear on the case. And as you can see, the pusher caps are missing, but I'm sure this is something that Blake can source and replaced.
The good thing is that EVERYTHING on this watch is original, including all hands, crown and even glass (though I would probably replace the glass). It is actually not quite a project, because all parts are original, only relume job and pusher caps needed. Service is required eventually on this kind of watch. And I did get a bargain for it, only need $15k. As you know this watch goes north $30k these days. So all in, with relume job probably a few hundred bucks, service and pusher caps for $1k tops, this watch will still cost much less than $20k at the end.
This was going to be one of my personal grail ticked off when ready, as it's a UG, black dial, rare Compur 30, and a 38mm Spillman case too. I need $22k on the black dial Jaeger, sounds kinda ridiculous because the Jaeger is a 35mm case, snapback too, and this Spillman UG cost much less. But I think I might regret the Jaeger if I pass on it. Let me know if this is something that you might be interested for.
Best
Andre
Hi Dre,
Wow, interesting project! Lots of questions.
This hinges on how well the dial can be improved. I don’t have enough experience with this. Can the old paint (please note this is in reference to that fact that there was some white paint on the dial that had been added for night visibility that had to be flaked off) be removed without damaging the existing graphics? What about areas like 15 and 45 where dots have been added? Also that is a major scratch, would you leave it alone or try to touch it up?
What would the fallback plan be if the dial couldn’t be improved or if it was badly damaged?
I’m not very familiar with UG spillman, if price for something like this is 30k is that for really good condition or this kind of condition?
When do you need a decision and how quickly would you need the money?
Anyhow I’m intrigued, also a lot of money for me and a bit out of my depth. How confident are you on this project? How long have you had it?
Thx
Ben
Hi Ben,
To be honest I was recommended to get the scratch touched up, because this is normal to be done on vintage Rolex, but I was going to leave it as is. And just put it this way, this is meant to be one of my personal grail, so there is no fallback plan and I'm quite confident that the relume will fix the numerals and hands issues.
Well $30k is just a ballpark, these pieces have sold for much higher price by dealers. And not very often you can find in a "barn" condition like this. That's why I had to get this when I had the opportunity, and lucky it was a bargain too for me.
Yes that's what I was saying on the Jaeger, is not even Spillman, nor oversize, nor screwback case, but that's the market. I guess that's the reason why, had the Compur 30 is in great condition, it goes for $30k.
I have until the 26th Sydney time, so 3 days to make the decision. However I will need to sell the Compur 30 Spillman soon if I were to say yes to the seller of the Jaeger though. If it's too much of a project for you, feel free to not take it. I have a few people in mind who would be interested so I think I should be ok for it.
Best
Andre
NOV 24
Morning Dre,
I actually prefer the anonymous (spillman I have already purchased from you). I know the UG is more rare, valuable, etc, but just going off looks, I like the anon, plus at half the price ($8K), that helps.
The UG I'm more just going off your experience, it's really hard for me to evaluate until the dial and hands are redone and back together. I'm more than happy to buy into the project and see how it comes out.
If I love it even more than the anon At the end, I would be fine trading/selling the anon back to you, or if you love the UG I could sell it back to you at cost, or if neither one of us wants to keep, I was assuming I could at least flip at cost to someone else. But it's hard for me to make that decision right now until the work is done.
Anyhow getting back to the moment, all that matters in the short term is that you can cash flow the jaeger, so whatever we need to do, let's figure it out. If you don't need as much money I'm also happy to go in half with you on the UG spillman and whoever wants it more when it's done can buy the other out?
Not sure if that's helpful, lol. A bunch more random ideas.
But I should get to the bank today and do a wire of something if you need to close this deal over the weekend.
Let me know your thoughts
Thx!
Ben
NOV 27th
Hi Ben,
Hopefully I will get the fund (the wire from me) soon, I've just committed on a $50k watch. Passed on the Jaeger for now. Will need every cent I can get by Friday.
Best
Andre
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