Welcome to the new style price chart for 2020!

Updated  for November 2020

During the last few months with most of the world under some form of martial law, there has been uncertainty and speculation about wealth, security, and safe havens. Speedmasters are still being bought and sold, provided they are attractive. There are a lot of watches on the market that have some issue or another that knocks it into the lower category, but the price being asked is too optimistic.

Auction houses have all done better than I feared they might, with successful sales online. Some are doing it better than others, but in general looking at the auction results it indicates strong demand for watches. It will be interesting how long they can maintain the buisiness model of hollowing out 30% from every sale, while not providing the previous level of service. You can see more watches on Instagram in a day that the current Phillips catalog, for example, so what are the big houses doing for thier money? I have no doubt they will come up with something.

Owners of better watches seem reluctant to offer them for sale, but when these better watches are offered, they sell fast and with competition. So there are fewer good watches on the market, but they are selling when they appear.

It will be interesting to see the auction results this month, to gauge the appetite for the 4 digit references in finer, widely marketed arena.

I feel a strong demand for watches in the $5,000 – $10,000 range, less in the $25,000 area, but the “Rare Air” (Special dials) watches over $60,000 are finding homes.

Reference PoorFairGoodVery GoodExcellent
2915-1No Data65,000120,000200,000400,000
2915-2No Data65,000110,000185000350,000
2915-3Broad Arrow / Steel bezelNo Data25,00035,00055000100,000
2915-3Alpha/BASE1000No Data25,00032,0004800085,000
2998-1BASE1000No Data18,00025,00050,00065,000
2998-2BASE1000No Data18,00025,00045,00060,000
2998-38,00014,00022,00030,00044,000
2998-48,00014,00022,0003000044,000
2998-58,00014,00022,00030,00044,000
2998-68,00014,00022,00030,00044,000
2998-618,00014,00022,00030,00044,000
2998-628,00014,00022,00030,00044,000
105002-62Alpha HandsNo Data14,00018,00028,00038,000
105002-62Baton HandsNo Data11,50018,00027,00035,000
105003-636,00010,00018,00025,00035,000
105003-646,00010,00018,00025,00035,000
105003-656,00010,00018,00025,00035,000
105012-635,0008,00015,00021,00028,000
105012-645,0007,00014,00018,00025,000
105012-655,0007,00014,00017,00025,000
105012-665,0007,00014,00017,00025,000
145012-675,0006,0009,00014,00018,000
145012-685,0006,0008,00014,00018,000
145022-68Transitional3,5004,5007,00010,00015,000
145022-69DO903,0004,50070009,50014,000
145022-69DN902,8003,1004,5006,8008,000
145022-69 SW ApolloNo DataNo Data6,0008,80014,000
145022-69 SWFlight Q.2,8003,3004,6006,80011,000
145022-71 NNNo NasaNo DataNo Data4,7007,00011,000
145022-712,6003,1003,6005,2007,000
145022-74No Step Dial2,4003,0003,5004,5006,800
145022-782,4003,0003,5004,5006,500
Specials:
Blue Metalic Dial23,00030,00035,00045,00065,000
145012-67Ultraman14,00022,00038,00035,0006500
145012-67NonPro Black Racing24,00035,00050,00065,00080,000
145012-67Pro Black racing28,00038,00055,00075,000100,000
145022-69Grey Racing28,00035,00045,00060,00080,000
BA145022-6918Kt Yellow Gold, inc bracelet23,0003500045,00060,00095,000
145022Apollo SoyuzNo Data30,00050,00065,00085,000
Alaska IIINo DataNo DataNo Data185,000200,000

Remember a Collectors Condition 2915 is probably not the same condition as a Collectors 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 through up in the calibre 861 speedmasters.

Recent prices for DO90 bezels have peaked at $5000, but now I detect no recent sales at that level and so $4,000 seems a better estimate. Therefore 145.022-69’s need to valued higher if they carry a DO90.

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 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 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.

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).

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!

Look at the three major parts, the case, the dial and the bezel. Decide which category each part falls into and make an informed judgement as to what the watch is overall. It is possible it as an Excellent dial and a fair case – so use your judgement, take an average and see how it feels. This chart is just to get you in the right area. It is not an exact proscription.
 

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 service 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 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 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 degredation 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.
  • This Chart is FOR MY REFERENCE. You are welcome to use it and remember 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.
  • 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 just more attractive than the average watch, the it is worth more.
  • Most watches are now offered via dealers or collectors. Premiums are paid for one owner untouched watches. So well over the chart.
  • Remember also, this chart is aimed at collectors, trading between themselves. Bricks and Mortar auctions are more expensive. Dealers got to eat – with your money.
  • These prices are US$ for the head only (with the exception of the BA145.012-69) . 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. A 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. We have seen tremendous rises in prices and the danger is the poor qualities are selling for silly money – to be regretted later I think.