There is a 105.012-65 for sale on omega forums here. This is not intended to be a critique of the listing, just an illustration of the process I use to value a watch with the price chart.
This is the watch:
I like shopping through this forum as the people are usually sensible and the watches are sometimes very nice, collector owned and cared for. If I cannot buy from a private owner, then a careful collector is the next best thing.
I am often queried about the price chart so let me take you through my thinking on this watch.
First we have to remember this reference has stretched out its value range in the last 12 months, with some fine examples exceeding $15,000. There have also been some strong auction results but these don’t influence the price chart much as often these auction prices are closer to those charged at retail. (Ralph Lauren for one example).
The first thing to think of is the price range: “running” is 5200 and “good” is 9100. These figures are USD for the head only, and represent prices paid between two knowledgable collectors. There are two ways I go, but first with this watch I will take the higher price and reduce to account for the issues.
The owner has been quite transparent and listed the watches issues plainly:
- damage to the lug from previous bracelet removal.
- incorrect hands
- incorrect bezel
- the dial has issues with lack of concentric rings and there is debate about the T SWISS T marking.
In addition I feel the watch has been polished more than I would like, when I look at the rear case back, which has lost definition on the double step. So now we must decide what to take off if we are to start with the “good” value of $9100.
- -1500 case damage and polish (this is a highly subjective figure – some might say only $500). And for any doubt in the dial.
- -300 incorrect hands
- -2000 for a good bezel. (Possibly more- good bezels are impossible )
- -750 for a full service. (” good ” watches are valued with a recent service)
This is gives us a figure of 9100 – 4550 = 4550. Of course this is an arbitrary figure, but does compare with a couple of 105.012’s sold on eBay in the last 6 months, both with missing bezels.
We can check by going the other way, taking the value of $5200 for a “running” watch:
- no adjustment for case
- -100 hands ( as these will be dealt with at service)
- -1200 for incorrect bezel (a fair condition one)
- no service is accounted for in value.
- +1000 dial is in better than running condition
This gives us a figure of 5200 – 1300 + 1000 =$ 4900
Now I have my base value, between $4500 and $4900 we can look at the other factors that will add to the value:
- Overall attraction (do you like it? Does it look better than others you have seen? Does it appeal to you?)
- location. (Is it especially convenient to you? )
- rarity. Is it one of only a few you have seen available, do you feel the need to snap it up?
- is there some other aspect or part of the watch that is special? (For example is the dial or bezel especially or unusually fine?)
Let us also ask, what stops this watch being a collector grade?
- dial: dirty plots, lack of concentric rings on subdials.
- superlmimova hands
- incorrect bezel
- damged, and polished case.
While we might replace the bezel and the hands, the case and dial will always be what they are – even if repaired the case won’t make collector grade.
Now for the caveats:
I have no connection to the seller nor the watch. I make no critisms of the watch nor do I recommend you buy it or not buy it. You must decide through your own research and do due diligence on the watch and the seller.
My price chart is sometimes criticised for being too low. I accept that. I am not saying the seller is asking too much I am comparing previous sales to this watch. If you pay more than my base value then you will have a good reason, and that should give you pleasure. Many things I buy I end up paying a little more than I should, but I am happier if I do it with my eyes open and know why I do.