2915’s

They are hard to come by. Recently Christies offered two for sale. A 2915-1 that had what appeared to be a refinished case, and a very honest 2915-2.

You can see the page on 2915’s here.

Here is a shot of us viewing the 2915’s in New York last December (2015):

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from left to right, my own 2915-1, the Christies 2915-2 and then the Christies 2915-1 with the suspicious case. Note how sharp the lugs, and bevels, are. On my wife’s wrist is her 2998 blue dial with English made Omega mesh.

Here is another shot of a 2915-1 and -2

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10k vs 2k

Acquiring, valuing and assessing brown dials is a skill that requires skill, experience and a little luck.  The value difference in them is enormous.

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On the left is a beautiful galaxy brown, serviced, with a bracelet and DO90. 145.022-69 with a 2911xxxx serial. On the right is the black dial, no step, un-serviced, 145.022-78.

Here is my favorite brown dial, along side another, later 145.022-78 that cost under $2000. The price of $10,000 on the brown is my estimate. I bought it for less, and would not sell it –  even for much more.

That’s the problem with browns, not many people want to let go of the good ones.

Price Chart Update For January 2016

I have found a solution for the “Bezel Problem”.

All prices include a DO90 bezel, up to and including the 145.022-69 line. If the watch you are valuing does not have a DO90 bezel, commensurate with the “grade” you have allocated, then you need to adjust the price appropriately.

My rough estimated values included in each price are:

  • Rough on Poor                  +400    Range 200-600
  • Passable  on Running    +700    Range 600-800
  • Good on Good                   +1000 Range 800 – 1200
  • Top on Collector              +1500 Range1200 – 2000

Of course if a preceding reference is missing a DO90 then that value needs to be adjusted.

Once again you have to use you head and remember these are all arbitrary valuations.

No post is complete without a photo, so here is a DO90 bezel only a mother could love:

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DO90 Bezel Prices

This just sold for a record $2000.

s-l1600

http://www.ebay.com/itm/252235348364?rmvSB=true

Is this the way of the future? Honestly I do not know but it is causing a problem in the price chart. A 69 speedmaster can correctly come with this bezel or the DN90, the value difference is obviously now $1000-2000 if it has a DO90 bezel. Perhaps we need two values for the 145.022’s.

I do have an issue with the bezel above is it is not high quality. Note the damage, the scratch between 65 and 60, the mark at 66, the white marks at 115 and 130, 225, 275, dents at 160 and possibly 75. It does not compare for instance with this, sold for 1875 by Watchco / ch-time last year for $1875:

chtime bezel

This bezel had no marks or blemishes compared to the first one.

This bezel madness means that people are now paying as much for a bezel as some later speedmasters are selling for the entire watch:

FACE

This is one I bought that admitted needed work but after a full service will come good. And although the bezel is a DN90 it is an attractive fade. The watch cost $1700 and the service and hand will be about $650. Read more here.

So bezels are now going to play a disproportionate influence on the value of a watch.

If a pre 1967 speedmaster does not have one, then it is going to cost the new owner $1000-2000 to get it right. That is a big difference.

Mind you, already I hear whispers by owners threatening to break watches they are selling as they think they might get more for the watch in pieces if it has a nice bezel.

And what a difference a bezel makes:

Before and after:

P5240062 P5240079

I suppose that by today’s values, the lower bezels are adding $2000 in value to the watches. Are they? Another question is if the watches were offered with the lesser bezels how much less would they sell for. In this crazy market maybe no much less.

And how much are those low quality bezels worth now, $600?

Here is my idea of bezel values:

Top, unblemished                                            $2000

Attractive, marked but not too bad     $1200-1500

damaged but passable                                  $600-800

Meteor Bezel                                                      $400

Now already I see a flaw in my values, as the bezel that started this post was not Top, it was Attractive. If it was a blip, an outlier my prices are good.

Unfortunately I may be behind the market and we need to add $500-1000 to my prices. I find it insane, but understandable given the new influx of buyers we are seeing.