Remember, a “Collector’s Condition” 2915 is probably not the same as a “Collector’s Condition” 145.022-78

BEZEL NOTE:

Its getting hard to sensibly price watches with good DO90 bezels – I am sure you can see anomalies that this might throw up in the valuation of calibre 861 speedmasters.

Beware of reproduction bezels, as these have now been in circulation for enough time to gather some patina, and can fool the unwary.

Prices for DO90 bezels peaked at $5000, but now I detect no recent sales at that level and so $4,000 seems a better estimate. 145.022-69’s need to valued higher if they carry a DO90. As of February 2025 this price guide is valid

There is more value to a “thin font” DO90 than one with thicker or blurred printing.

I have separated the 145.022-69 with a DO90 bezel, or 145.022 with a DN90.

I am not sure how to deal with bezel madness – the bezels are selling for more than they increase the value of a watch without one. My figures for REPLACING a missing bezel are:

• Rough on “POOR”                         +450
• Passable on “FAIR”                       +500- 800
• Good on “GOOD”                          +800- 1700
• Very Good on “VERY GOOD”      +1700 – 2500
• Top on “EXCELLENT”                  +2500- 4000  (Very, very few are 4000)

Note also that the references preceding the 145.022 without a DO90 bezel need to be devalued as appropriate.

Note On BASE 1000 bezels

The 2998-1 and -2 are often traded with DO90 bezels instead of the correct black BASE1000. The prices for 2998-1 or -2 above include a price for a commensurate bezel. These BASE1000’s are worth approximately $10,000 to $20,000 depending on who you talk to. A poor one might be $1500 – 2000 while a mint one might sell for $15,000+. There is talk of them selling for more, but not confirmed. Recently I have seen imitations that are close, but do not pass close expert inspection. When I look at a “parts watch” and it has a BASE1000 I start at valuing the bezel at $10,000 and go up or down depending on condition.

If you use this table, use your head too.

The figures here are based on actual transactions (that I know about) between willing buyers and willing sellers. Prices are in USD $ for the head only. (Except the BA145022 and the 145.022 Soyuz which includes the unique bracelets).

You will have to make a judgment on the watch you are looking at, and take the price from that category. You will then have to subtract as you see fit for missing or erroneous parts, or add a premium if the watch holds a particular attraction. I have chosen names for the categories. Don’t get hung up on the words, they are just four groups.

New Categories!

Poor – These watches are unattractive, have damaged parts, and have very little going for them other than they can tell the time correctly twice per day. The bezel is damaged, the dial is damaged, the case has lost definition or heavily scored. The movement might be corroded, or missing some minor parts. Often these can be valued more accurately by valuing the parts separately. The figure here is really just a guide.

Fair – Often the quality of a well-used watch, one that has lived a useful life. It might be damaged or missing some parts, movement needing work. This category can sometimes be improved with sympathetic work and service. It will remain fair if after service it still shows a damaged bezel, a dial with damage or missing, or discoloured plots, and a case with missing lines or heavy damage.

Good – Complete with correct parts. It is likely the lowest condition most collectors or owners are happy with. The case and dial and bezel should be without significant damage, though there may be some wear or light marks on the case or bezel. The plots are an attractive colour not green or missing. Some minor plot damage or issues are acceptable. The bezel may have several marks but no major damage.

Very Good – Case Dial and bezel are without obvious damage. Parts are original or replaced with correct vintage replacements. The watch is attractive. The parts look good together. There may be minor marks on the case or bezel, and the dial is clean and with attractive plots with luminous material intact.

Excellent – Very, very few watches are in this condition. Very little wear and without any damage. Perhaps very minor marks from very light wear No damage or degradation to dial, case or bezel, all parts correct and original.  This is the highest price I would expect a Speedmaster to fetch unless it is New Old Stock and absolutely unworn ever – this is another step up in value.

Fratello has a good price chart for more modern Speedmasters here.

More General Notes on Using the Chart:

• This Chart is REFLECTIVE, not PREDICTIVE. So it is what watches have previously sold for, not what they are going to sell for or what they OUGHT to sell for in my opinion.
• This Chart is FOR MY REFERENCE. You are welcome to use it and bear in mind your experience and opinion of prices may well be different, and it is equally valid. My Chart, my Experiences, my Values. If you disagree, then try instead to see the relationship between the values, and that could still be helpful. I am not omnipotent, and this is the best I can do with the resources I have.
• Categories are now divided into five – the Poor category is really a rough guide, and I am still not sure it’s useful
• It is possible/likely that watches trade for over the chart – it does not mean they are too expensive, it means the market is moving and if you let me know I will adjust the price based on actual transactions. Also, if the watch is more attractive than the average watch, then it is worth more.
• Many watches are now offered via dealers or collectors. Premiums are paid for one owner untouched watches. Sometimes well over the chart.
• Remember also, this chart is aimed at collectors, trading between themselves. Bricks and Mortar auctions are often more expensive. Dealers have  to eat – with your money.
• Any papers, bracelet, original box or history will add value.
• Remember also, exceptional watches will command prices off the chart – if a watch is especially attractive, then they will command a premium. An exceptional dial can add 100%. (Note: Exceptional)
• Be careful with this chart – and be ruthless with your judgment. Get a base price and add on for the indefinable attraction, or even that you just want to pay more to buy it now.
• (*) Indicates an estimate – not based on recent transactions.