I am new here, and happy to be reading and learning about these watches. I want to add a Speedmaster to my collection and am puzzled to see the older Speedies in very good condition selling for $ 4,000 to $ 7,500 and more. Everyone is saying that the vintage Speedmaster prices have risen quite dramatically lately which is good news for those selling, but what I don't understand is I am seeing new and newer Speedmaster watches selling for $ 3,000 Am I am missing something ? Why are collectors paying a large premium for a used Speedmaster ?
The older ones were the ones used by NASA on the moon, Cal 321 models in particular were made in far lower numbers than Cal 861/1861 and are sought after, like many vintage collectables. Compare the pricing on a Porsche 993TT to 997TTs and you'll see the same thing, scarcity plus nostalgia plus key engineering features drive the price.
I just don't get buying used watches, unless they are a lot less expensive. This looks like a nice way to get a watch, compared to an internet purchase
You don't get it at an emotional level "why would someone spend so much on an old watch / vase / painting?" Or you don't get it at an economic level "why are old rare things worth more than a similar item made recently?"
Obsolete, rare and out of production items of quality there will always be a demand for. Vintage Corvettes, mine cut diamonds, 1960's guitars etc. Omega watches are the same. Although I think the whole idea is that you buy it new and wait till it gets vintage and sell it after all the years of usage and for a profit,
Maybe not the best example. If you were at a restaurant would you ask for a vintage hamburger with patina?
I can understand RMs reluctance to go for old watches. On Speedies, you can have a nice new current model with Hesalite, a descendant movement, all of the fruit and from across the table it looks like most Speedies from the last thirty years. Only true SMWWIST (Speedmaster Moon Watch WIS Tragics) would be able to tell the difference and to be honest, they are the only ones who could care. I'm not against vintage by any means, but a dial covered in blemishes with dubious provenance turns me off every time. Now if some of us were to post some pics of our pristine "NOS" example we may be able to change his mind. But then again, that would add another number to the ever growing horde of watch hunters, so maybe not.
Thanks Jim For a second I thought everyone didn't understand/ I'm not against vintage by any means. Even forgetting about the pricing, the scratched and banged up dials and not knowing how the watch was cared for, serviced and perhaps even a fake makes a new Speedmaster very desireable to me. I have seen many pictures of your vintage Seamasters and they are magnificent, but for the above reasons you will not find me bidding against you..
In the case of Speedmaster the reason to spend more money on vintage is only because of the 321. Any other vintage non 321 is to me a no go, and would just purchase new.
HAH! Too funny. It's nice that you watch collectors have manufactured a hobby and market for yourself. Reminds me of the camera collectors back when I wanted a good camera to USE and you couldn't afford half of them because of the collectors. I bought my Speedmaster new because I was going to wear it every day, and I actually did, except when it was out for service. Nor was I upset when the crown, pushers, and crystal were replaced as part of the service. Same reason I bought a Watchco Seamaster 300, the nearest to new that a person could buy. I wear it every day! I feel quite fortunate that the trumpets I "collect" are so good and so ignored... I can buy one for $400 and restore it for $1000. Tom
If your buying the right watch, used is not the right word. A vintage cal 321 speedmaster is not only a watch with rich history its a work of engineering modern watches lack today. You wont really understand until you've owned a modern piece and a true vintage icon. Having owned a modern speedmaster and a Vintage 321 speedmaster (which i currently own) i appreciate the differences that make the vintage watches so special. stepped dial, applied logo, Long indices, tritium, column wheel movement and most of all the character. In comparison the modern speedmaster lacked character and uniqueness. The benefits of buying vintage is that its second's as an investment, your modern speedmaster will lose a chunk of its value every year because of the high amount that are mass produced and on the market. On the other hand the vintage speedy will continually increase in value over time as they are getting harder to find and more sought after. time has proven this with the rising prices of nice examples today this is coming from someone who prefers vintage to modern, all in all it depends what you want it for. hope this helps
I'll take it one step further. The collectors' value in these watches are based on the particular association between Omega and NASA with the US space program in the 1960's. IMO, this has little to do with the quality of the movement or its timekeeping abilities. Not that there's anything wrong with that. The cal. 321 movement was used by Omega in many, many models prior to the introduction of the Speedmaster in 1957 and the NASA competition a few years later. These are popular, but nowhere near as popular as the Speedmaster. Accordingly, they don't carry the same level of collectors' premium. There are a lot of watches that are valued more for who wore similar examples than for anything else having to do with horology. Some the 1960's Heuer chronograph models fall in this category, as does the "Paul Newman" Rolex Daytona. Some years ago, I purchased a nice 1959 Rolex Oyster Perpetual for well under $1,000. I've since been told that my de-cased cal. 1030 movement would be worth about double the value of the complete and running watch. Why? Because several very desirable (and very expensive) Rolex models of similar vintage used the same movement. Since Rolex does not divulge any information about their vintage watches or supply NOS parts for this caliber, any or all of the movement parts could be swapped out with no reduction in value. So a better analogy would be: Classic, but relatively inexpensive, and Vintage and very expensive...but both cars used the same engines! gatorcpa
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