This watch is for sale on OF (see here) and its been there for a while and I wondered why. I will go through it with you now as I write. I am curious because at first glance $5200 for this reference is not expensive. Let’s examine it. I am going to use photos from the listing but I am not going to copy the whole lot over, I suggest you click on the link and have the page open while you read.
Now the best head on photo from the listing is this:
Now forgive me saying so, and bearing in mind not everyone is a natural photographer, but this is a terrible sales photo. So I took that photo and did this:
That’s better. Now we can get a better idea of what is here. I always find it easier to look at a watch the right way up, and also adjusting the white balance a little. One of the things I always look for in a 2911xxxx serial is the dial colour. Even if it has not gone as far as tropical, it often has a pleasant shade not seen in other series.
As far as I can see its a very presentable 145.022-69. True a little worn, but really how many have we seen for sale?
The seller has described the dial as having all the lume removed. The white balance of the photos disguises this, but it is apparent. The dial otherwise seems in fair to good condition with the printing intact. I would see this watch as a perfect candidate for a re-lume. In the next photo the plots can clearly be seen as missing all lume, but the white paint is full. (Ideal for re lume).
Lets look at the dial, which is good on first glance but there may be something, its a bit crumbly at the edges. Also there is a little blotching around the 6 marker:
So the dial is let down by the lack of lume, the blotching at 6, and possibly 4, and the crumbly edge. Otherwise the dial looks good, the concentric rings are clear. The hands look correct and in good condition. Its not a fine dial but it is not bad. As the movement is 2911xxxx then we always look for hints of brown – but I do not think there is any here.
We can see damage on the crystal and the seller has declared it as non original. I would replace it. The claim is serviced and it may well be, which makes it even better value.
The bezel is a correct DO90. This always makes valuing these watches difficult because such a high proportion of the value rides on the bezel. If this bezel were released on its own then I expect on Ebay this would sell for perhaps $1000 – 1500. It could go for more. It is damaged but I have seen people fight over worse.
The bezel really is not so bad. I would rather have this than a service replacement.
Now also included in the sale is an original, trapeze logo 1171 bracelet. These are now selling for over $400 and could again get more.
So in summary this watch has problems of appearance, but it has been serviced and comes complete with correct parts and a correct bracelet.
The seller asks $5200. I cannot see it as expensive. Especially as I have really not seen any of this reference for sale. I feel I do not need to add that I have no connection to the seller, or the watch.
If I had to guess, I would say the sale has stalled due to poor photos that don’t show the true colour, nor the attraction that I am sure this watch has. Also perhaps the price was too high to start with and the watch over exposed at a poor time for selling.
It also may be an illustration that while the market might pay double this for a top example, one like this that can be criticised on several high value points is harder to value.
Since writing my friend Ewan started an interedting thread over on OF and out of this thread comes the concepts that this is a dull time for sales, (Pre March) and that forum sales are higher than this time last year, based on average sale. All interesting stuff, go and have a look.