Antiquorum Speedmasters Nov 2020
Antiquorum Speedmasters Nov 2020
Antiquorum sold several Speedmasters, did we miss something? Was there a bargain that slipped passed me?
You really would think that auction houses would in these days of social distancing, provide more than one blown out photo to sell a watch, but hey, I am not running their business. I like AQ for the very reasons many do not. They offer a large number of watches, not always checked or verified to the same standards as the bigger Geneva houses, and as a result we can see many more items, and there is always a chance that something interesting slips through into the hands of a ferret eyed collector like me. To be honest, it doesn’t happen much, but when it does it makes it all worth while.
Lot 237
OMEGA, REF. 105.012, SPEEDMASTER, CB CASE
Brand Omega
Model Speedmaster
Reference 105.012-66
Year Sold to South Africa on December 8th 1966
Movement No. 24530229
Caliber 321
Dimensions 42 mm
Signature Dial, case and movement
Accessories Extract from the archives
CHF 6,000 – 8,000
HKD 48,000 – 64,000 / USD 6,000 – 8,000
Sold: CHF 7,500
A CB cased 105012 will always interest me, at least enough to look further. First check is those facet lines, and then the pushers for fat necks. Unfortunately this watch fails both those inspections. The facet lines are entirely missing and the pushers are thin necks, service items. So none of the attributes of a CB cased 105.012 that a collector might look for.
This photo makes it very hard to see the real quality of the dial. We can see the print is intact, but the body state is harder. If I had to guess I would say it has one or two areas of fade or bubbling, no deep damage, and possibly a nice colour. The plots are pretty good and also might be a nice colour. I think it is Good, with the potential to be better or worse than I think due to the photo.
The bezel is surprisingly good, but beware I think there is an issue at 66 -68 mark where it looks cloudy. It has one or two marks on it but in general I would have to call it Good. I also think it might clean up, on the inner edge.
The case has an issue at the lower right lug. It could be a photographic artifact, or the top of the lug is polished. however by this time I have already dismissed the case as it lacks the top facet lines for the CB case.
From this listing I cannot judge the case back, or the movement, and this is very important at this level, and with this auction house. The movement could have discolouration or water damage, or just have a lot of screw damage. Whatever, the state of the movement and case back have a heavy influence on the value, and buying it without seeing these is gambling. This goes for all the lots I discuss in this post.
Gambling is fun though, and I think that at CHF 7500 which is $8200 in oil money, it might have paid off – if the facet lines had been present!
Down indications are the incorrect crown and pushers which indicate previous work and will cost about $1000 to $1500 to replace, if you can find them.
Using the Chart, Fair is 7,000 and good is 14,000, and this sold for $8200. The questions are, is the case good? Is the movement clean, and able to be classed Good or better? Is the dial Good in real life. I would say this watch probably sold for within the predicted ranges of the chart.
HOWEVER: The trouble is, this example has lost the first and second most important characteristic that collectors look for in this reference, so I would value it much less as a result.
Lot 238
OMEGA, REF. 145 022, SPEEDMASTER, STRAIGHT WRITING, STEEL
Brand Omega
Model Speedmaster
Reference 145022-69 ST
Year Circa 1969
Movement No. 31323346
Bracelet Stainless steel Omega buckle
Caliber 861
Dimensions 42 mm
Signature Dial, Case and Movement
CHF 1,500 – 2,500
HKD 12,000 – 20,000 / USD 1,500 – 2,500
Sold: CHF 5,000
Ridiculously low estimate, often used to pull in bidders to register. It opened above the high estimate when it came to selling.
Same issue with the image, the crystal is blown and we cant see into the dial properly. What we can see is that it looks correct for the reference, a stepped dial. I thought the dial might be slightly brown, and I have to admit I was an underbidder. I don’t see any issues with the body, no discolouration or scratches, as I have to think these marks I see are on the crystal. The plots look original and intact, and a pleasing colour – although some are slightly incomplete. At the right level this is a good watch to own.
The bezel is very good. Pleasing quality of an under appreciated DN90. These are getting hard to find in Very Good condition such as this.
This one is unusually clean and adds strongly to the desirability.
This is billed as a straight writing – we cannot verify which version it is so I assume it is the less valuable “Flight Qualified” version.
The hands look original, and good. Note the lume is quite black, and this is an indication they are original. In general I am pleased to see the hands have a over all matching decay and this is surprisingly hard to find. I think they really help to make this watch quite special, combined with the dial and bezel.
The pushers and crown look original, although as ever I am not sure about the crown as I cannot see it fully.
We have the same issues as the previous lot in that we cannot see the case back or the movement, so I would be gambling they are Good+.
Using the Chart, Good is 4,600 and Very Good is 6,800, and this sold for $5,450. I would say this watch probably sold for within the predicted ranges of the chart, as it is better than Good from what we can see, but it is a gamble as to how closely it approaches the Very Good category. I think it probably does, and I think this was a good purchase for the buyer.
After thinking and reflecting, I wish I had bid one more.
Lot 346
Brand Omega
Model Speedmaster
Reference CK2915-3
Year Sold on July 13th 1959 to the US Army (European Exchange System)
Movement No. 16649548
Bracelet Stainless steel expendable Omega bracelet (No. 6 end links), approx. overall length 175 mm
Caliber 321
Dimensions 38 mm
Signature Dial, case and movement
Accessories Extract from the Archives
CHF 30,000 – 50,000
HKD 240,000 – 400,000 / USD 30,000 – 50,000
Sold: CHF 38,750
Ok so we have to be extremely cautious with 2915’s and especially from this auction house, based on its previous sales. 2915’s can go for over $100,000 if all correct, and the value plummets if parts are missing of questionable. So for some collectors the idea of owning a reference that can reach over $100,000 (Phillips sold one famously for $400,000) for under $50,000 is appealing.
I would say it takes a good eye to purchase a sub $50,000 2915 and be happy with it.
Famously the metal bezels are a minefield to verify, though I luckily have found two friends to help me when I need it. The value of these original metal bezels is probably $30,000 to $50,000 if you take into account the change in value it bestows on the watch. This watch has what started out as a black BASE1000 bezel, being a -3 this could have been original specification.
This watch was seen on ebay in 2015 asking $20,000 and with different hands. In that listing, the case back showed considerable decay. It was also on a leather strap, so this bracelet has been added.
This dial shows one or two spots on the body colour, and this dial colour appears to be a lovely chocolate colour. If this is the same dial from the 2015 listing, and there is a good chance it is, then it shows a different colour, probably due to different lighting conditions. So I would reserve judgement on this dial until I held it. Here is a photo of the dial from 2015 on Ebay:
Here is a photo of the dial from the AQ listing. I think these photos must be colour shifted to make them more brown. Unfortunately the image above is the only one I can salvage from the 2015 Ebay listing – if it is the same dial it has acquired a small scratch in the hour subdial. The two dials both have a small spot near the 3 marker in the hour subdial. The plots match fairly closely. The dial itself has a few blemishes and bubbling. The O in Omega is oval and this is the rarer more desirable dial.
The bezel, while correct is not an attractive thing on its own right, but it seems to sit with the rest of the watch well. It is not valuable.
We do not get sight of the case nor the movement again, and so this is a gamble again. That said, if the movement is in the same case I saw it in when offered in 2015, then the case is degraded at the back and would be graded Poor to Fair. The movement when I saw it was Good, and it was complete.
If a 2915 is under $50,000, it is going to have issues, some of them quite major. It is up to the purchaser to balance these issues against his desire to own that reference with the price. There are so few 2915’s in circulation that I have more often than not had contact or sight of them before sale. With these sub 50k 2915’s you are never going to get a Good watch, its always going to be full of compromises. So my advice is to find one with at least one thing you really like about it – hopefully the dial!
I quite like this one, at the right price, and if the dial is as an attractive a colour as the photos show, then it is interesting. I cannot say if the colour is the same as the photos from 2015 as there must be differences in lighting.
I would say this watch falls around Poor to Fair, with a premium for the dial colour
Using the Chart, Poor is 25,000 and Fair is 32,000, and this sold for $42,500.
That feels about right to me. Especially bearing in mind it comes with a tired 7912 and No 6 endlinks. Assuming the end links are real, the chances of which are about 50/50 in my book.
Lot 347
Brand Omega
Model Speedmaster
Reference CK2915-2
Year Circa 1958
Bracelet Stainless steel Omega bracelet with deployant clasp 4 59/ endlinks 532
Caliber 321, no. 15997985
Dimensions 39 mm
Signature Case, dial and movement
Accessories Original box, guarantee (blank) and Extract from the Archives
CHF 50,000 – 70,000
HKD 400,000 – 560,000 / USD 50,000 – 70,000
NOT SOLD
Again Caution!
This watch was sold in 2010 by AQ without bracelet or papers for USD 17,500
In 2013 AQ sold it again for CHF 27,500 by which time it had acquired the bracelet, the box and the Omega Guarantee, lets hope its blank or else that’s a bit shady. It also had an extract.
Now, in 2020 it is offered in pretty much the same as 2013. The dial is quite bubbly and the print is slightly cmprimised. The lume is very orange and lumpy, and looks to me like its an older re lume. I am guessing here, it just looks it.
Of course the bezel is modern.
I cannot really think this watch is anything other than a straw man, without substance of quality, and with a whiff of deception in the added paperwork. I am not surprised that it failed to sell.
Lot 348
Brand Omega
Model Speedmaster
Reference 105.003
Year Sold to the UK in November 1966
Movement No. 24011552
Caliber 321
Dimensions 40 mm
Signature Dial, case and movement
Accessories Extract from the archives
CHF 8,000 – 14,000
HKD 64,000 – 112,000 / USD 8,000 – 14,000
Sold: CHF 10,000
Here is an Ed White for just under $11,000 which is possibly inexpensive, so lets look at it.
The dial might have a nice body colour. It is without obvious damage or marks but the photos once again are challenging.The dial is correct for the referene, non pro and close spaced T marks.
The lume plots look well covered and an attractive colour but with some dirt and decay. On balance I like them but they are not fine. The print on the dial is I think good, and any imperfections probably from the glass. It really helps to have more than one view.
The dissapointment on this watch is of course the worn bezel. Correct but poor.
We cannot see the movement, or the back. We can see what looks like original pushers, and a 32 tooth crown.
Its not expensive, but then it shouldnt be. Its an attractive watch for the price.
Imagine for a moment this watch with a very good bezel. That might change everything. If you bought a bezel for $3,000 and put it on, would it make a much better watch? From what I see it would, but it really does depend on the state of the case back and the movement, none of which is forthcoming. I am left with the idea this had a nice brown dial and that we may see this resurface with a new bezel for much more money. Or hopefully a collector bought it and is already ahead of me. It is definitely an example of why you need to view the watches in person, in order to make this sort of decision.
Lot 349
Brand Omega
Model Speedmaster
Reference 2998-6
Year Circa 1962
Movement No. 26548861 (later)
Caliber 321
Dimensions 38 mm
Signature Dial, case and movement
Accessories Extra bezel, hands, 2 extra crowns
CHF 7,000 – 9,000
HKD 56,000 – 72,000 / USD 7,000 – 9,000
Sold: CHF 8,125
If you are going to offer a lower quality 2998, then at least sell it cheap like this one. There are not many 2998’s on sale under 10k, and none worth having that I have seen recently.
Again the photography is terrible with light blooming in the crystal.
The dial is not bad, compared to some higher priced examples. The body looks solid and might be slightly brown, and the print is intact. The lume is thin, but an attractive colour, There is some damage to the lume on the one and eight markers and overall there is some black spotting. However the dial exhibits a good deal of attraction. But cracked plot at One o’çlock is especially distracting.
The correct bezel is just awful. Although I think there is a lot of brown dirt that will remove. It will still have the large amount of missing black paint and there is nothing a sharpie can do for that. It is still better than a modern service bezel.
The case shows normal wear, but we cant see the back.
The hands have lost all the lume and while I think they are correct and original, I can just see the transverse curve that makes me happy – an original pair of triangle alpha hands are probably worth $2500+ on their own. (By definition these would not be original, as they would need re luming, but its always important to remember TAlpha hand values)
At $8888 this is a very lucky number! (That was what my exchange rate made it today!) The chart for a poor 2998-6 is $8,000. So this has to be about right. I will say this, I do not know another 2998 for under 10,000 that looks this good.
Its not a fine watch, but I think its a good buy for someone who wants a rare reference cheaper that any other I have seen recently.
Lot 468
Brand Omega
Model Speedmaster
Reference 2998-4
Year Circa 1962
Movement No. 18645134
Bracelet Stainless steel semi-elastic Omega bracelet (1035/532), approx. overall length 190 mm
Caliber 321
Dimensions 38 mm
Signature Dial, case and movement
Accessories Fitted box
CHF 25,000 – 35,000
HKD 200,000 – 280,000 / USD 25,000 – 35,000
NOT SOLD
A terrible error of judgement by the auction house.
This watch was never going to sell at this level. To describe this as a tropical dial, and then set the price at CHF25,000 is to insult the intelligence of the buyers.
The dial is destroyed, the bezel is a modern service, the bracelet is too late for this reference, and there is no extract.
It was an absurd lot to offer. It is a pointless exercise to try and put this through the chart as the value is in the parts, and I estimate that at approximately $5000-7000.
Lot 473
Brand Omega
Model Speedmaster
Reference 2998-1
Year circa 1960
Movement No. 17761201
Caliber 321
Dimensions 38 mm
Signature Dial, Case and Movement
CHF 13,000 – 19,000
HKD 104,000 – 152,000 / USD 13,000 – 19,000
Sold: CHF 15,000
Tucked away toward the end of the sale, this watch might be a good buy. Lets check. It is not fine, but apart from the DO90 bezel (Instead of a black BASE1000) it is correct with an early dial.
The dial is a correct early 2998 dial with round O and short indices on the subdial. The problem with it is all the marks, damage and clouding. This is one I really would have liked to see in person, as sometimes dials like this are less offensive in real life.However its not a chance I would take from this photo alone.
The print is all intact. The lume plots are original looking and while they are not great, they fit with the dial, and the whole dial has a balanced and harmonious decay.
The bezel is slightly grey, and in poor condition. It is a correct DO90 bezel. For the purposes of valuation we should not attribute much to it.
The case from what I can see, is ok. Obviously its worn, but its ok. Trouble is we cannot see the whole thing. Nor can we see the movement, and there is no extract listed as coming with the watch, although I have seen plenty of confirmed 2998’s with 17761xxx serials.
The hands are transverse curve alphas and all the hands look original. As do the pushers and crown.
To try and give this a grade, we can say the dial is Fair, the Case is Fair, the bezel is poor. We cannot grade the movement.
When looking at the chart, we have to use the grades for a 2998-3 as that is valued with a DO90 bezel, which comes on this watch – of course it should have a BASE1000 bezel to be correct.
On the chart a Fair 2998-3 is $14,000 and a Good is $22,000. This watch achieved $16,400 and so we could think that if it has a good case back and an Very Good movement, the price is about right.
We also have to consider that 2998’s are quite hard to find, so attractive ones, even if only Fair/Good might be fought over in auction to a certain extent.
That brings me to the end of the review of Antiquorum’s Geneva sale, in November 2020. All photos are property of AQ and used without permission but considered public domain from the online catalog. No sponsorship of monies are taken for my reviews, and I take no responsibility for any action you may take as a result of reading my ideas, Remember I am just an enthusiast who likes watches and as such I am fallible (ask my wife). There are plenty of people more knowledgeable than me and I am often grateful for their help. If you are going to spend this sort of money on a watch do not rely on anyone but yourself, and blame only yourself if it goes wrong. Then when it goes right, its all on you, Well Done!
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