Price Chart Based on Previous Sales

Prices are in USD $ and for the head only. Remember to account for a bracelet box or papers if present.

Updated  for May / June 2022

The interest in vintage speedmasters has definitely firmed up. There were several auction results that astounded the speedmaster collecting community, the 2915 at Phillips for $3.4m and the Hong Kong Speedmasters at Antiquorum discussed here.

I have decided to ignore very high “outlier” results at auctions, until two further confirmations. There are factors at play that I do not understand from a pure collecting viewpoint, and I will take those prices into account only when three similar results reinforce the level.

A continuing trend, is that there are very few private speedmasters coming to the market, even less than last year.

I believe 2998’s have now consolidated at the levels I indicate, as I have several confirmed trades at the prices I show.

1970’s Speedmasters are attracting more buyers, as they are possibly an affordable entry into the world of vintage speedmasters.

All prices with an Asterix (*) are not backed by a recent trade and therefore should be treated with the knowledge the figure is based on a sale over 12 months old.

Points to note:

BA145.022-69 are rare, but regulars to the market. The prices can fluctuate at auction as buyers come and go – I have seen really nice ones sell for less than the ones with issues. It all depends on who is buying that day.

2915’s are selling over a wide range at auction, and the bezel issue is always there, with people trying to find the confidence to verify. Quite a lot of the recent offerings simply didn’t look right.

2998’s have settled and are now moving around. The median price among collectors now seems to be about $25,000 for a straight DO90 example, and that price can go up or down from there, and I have seen very attractive dialled examples go for more.

Asymmetric 321’s are very strong in better qualities, in terms of moving. The poorer examples only move when the sellers accept that the watch is worth less than they thought. For example, a 321 with fixable issues and cosmetic (non-fixable) issues with dial and bezel will sell for 3000-5000, whereas a Very Good example for a 145.012 will be triple and a 105012 could be four times.

As ever, the value between Good and Excellent is disproportionate, and easy to misjudge. Up and Down.

Later 861’s are in a similar situation, with lower qualities selling only when the owners come to their senses. There are more buyers for a $12,000 145.022-69 than a $6,000 one.

I am certain the Ultraman price is now stable around $30,000 to $40,000 in Very Good condition, and I think the Black Racing Dials are set to attract more attentions.

 

Reference PoorFairGoodVery GoodExcellent
2915-1No Data40,000*60,000140,000200,000
2915-2No Data40,000*75,000*110000*150,000*
2915-3Broad Arrow / Steel bezelNo DataNo Data35,0005000090,000
2915-3Alpha/BASE1000No Data18,00030,0004400075,000
2998-1BASE1000No Data16,000*25,00042,00055,000*
2998-2BASE1000No Data16,000*25,00045,00060,000*
2998-38,00014,00020,00025,000
2998-48,00014,00020,00025,00035,000
2998-58,00014,00020,00025,00035,000
2998-68,00014,00020,00025,00035,000
2998-618,00014,00020,00025,00035,000
2998-628,00014,00020,00025,00035,000
105002-62Alpha HandsNo Data12,00015,00024,00033,000
105002-62Baton HandsNo Data10,50014,00023,00032,000
105003-636,0009,50018,00023,00032,000
105003-646,0009.50018,00023,00032,000
105003-656,0009.50018,00023,00032,000
105012-635,0007,00013,00018,00024,000
105012-645,0006,80012,00016,00025,000
105012-655,0006,80012,00016,00025000
105012-665,0006,80012,00016,00025,000
145012-674,8005,8008,00013,50018,000
145012-684,8505,8008,80013,50018,000
145022-68Transitional3,5004,5007,5009.50014,500
145022-69DO903,0004,50070009,00013,500
145022-69DN902,5003,0004,5006,5007,800
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
145022-712,8003,4003,9005,5007,500
145022-74No Step Dial2,9003,2003,6004,6007,200
145022-76, & 782,9003,0003,5004,5007,000
Specials:
Blue Metalic Dial25,00032,00038,00052,00085,000
145012-67UltramanNo Data22,00028,00035,00042,000
145012-67NonPro Black Racing25,00035,00050,00068,00090,000
145012-67Pro Black racing30,00040,00065,00080,,000110,000
145022-69Grey RacingNo DataNo Data48,00070,00095,000
BA145022-6918Kt Yellow Gold, inc bracelet20,0003000040,00065,00075,000
145022Apollo SoyuzNo Data25,00048,00060,00080,000
Alaska IIINo DataNo DataNo Data185,000*200,000*

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 throw up in thevalueation of calibre 861 speedmasters.

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.

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 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 inspection.

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!

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. Sometimes 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.
  • 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.