The market for Speedmasters has become thinner – lower quality pieces do not find homes unless the price is lower. High value stright lugs also have lost some of the hype, and unless it is fine, the prices are lower.
Fine pieces remain at the previous levels, but have become very hard to find. Quality has become crucial to the top end, and many sellers are finding that what they thought was a fine watch, is being seen by the market as second (or even third) rate, once they try to sell it.
There is a difference between an attractive watch with flaws, and a correct watch that does not attract. The first instance will still sell and for good prices. There seem to be a lot of watches being offered that simply do not look nice in the eye. The difference is that now, no one wants to buy them unless cheaper than the chart.
It would appear there is a strong demand in the later watches for very fine examples and people “overpaying” for examples without flaw. Perhaps because the overall cost is lower, and over paying at a lower level is more acceptable on the bank balance.
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.
I have removed the very high values on 2915’s as I have hard data to replace those very high prices achieved at auction. These higher prices may well return at auction. If you are buying a 2915 I doubt you will be placing much reliance on my little guide, and I do not expect you to. As the financial people are fond of saying, past performance is cannot be relied upon to predict the future, and this chart is reflective of my own experience, and I keep it to guide me.
Ultraman prices are difficult as many have issues. I have not taken into account the UM sold at Antiquorum in December 2020 for CHF70,000 as it makes no sense to me, and allowing it to influence my ideas of values would be misleading in my opinion. There is one coming up in Phillips soon, lets see where that ends up.
The poor category is really just an idea – its a really rough estimate, as most watches will have parts missing or damaged beyond repair.
|2915-3||Broad Arrow / Steel bezel||No Data||25,000*||35,000*||55000*||100,000*|
|105002-62||Alpha Hands||No Data||14,000||17,000||25,000||35,000*|
|105002-62||Baton Hands||No Data||11,500||15,000||23,000||32,,000*|
|145022-69 SW||Apollo||No Data||No Data||6,000||8,800||14,000|
|145022-69 SW||Flight Q.||2,800||3,300||4,600||6,800||11,000|
|145022-71 NN||No Nasa||No Data||No Data||4,700||7,000||11,000|
|145022-74||No Step Dial||2,400||3,000||3,500||4,500||6,800|
|145022-76, & 78||2,400||3,000||3,500||4,500||6,500|
|Blue Metalic Dial||23,000||30,000||35,000||45,000||65,000|
|145012-67||NonPro Black Racing||25,000||35,000||50,000||65,000||80,000|
|145012-67||Pro Black racing||30,000||40,000||65,000||75,,000||90,000|
|BA145022-69||18Kt Yellow Gold, inc bracelet||23,000||35000||45,000||60,000||95,000|
|145022||Apollo Soyuz||No Data||30,000||50,000||65,000||85,000|
|Alaska III||No Data||No Data||No Data||185,000*||200,000*|
Remember a Collectors Condition 2915 is probably not the same condition as a Collectors 145.022-78
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:
Note also that the references preceding the 145.022 without a DO90 bezel need to be devalued as appropriate.
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.
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.
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.