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Usable, well priced and attractive Speedmasters in the up to $15,000 range are selling strongly.
Especially in the under $10,000 range. There is strong demand for 145.022’s in all qualities. Some of the later 321’s are also finding homes quickly, even with defects if well priced. It is a return to the days where the trades are made by collectors and those who enjoy wearing Speedmasters, rather than making a quick buck.
I see Speedmaster enthusiasts replacing Speedmaster speculators.
We are still feeling the effects of the attempted fraudulent price setting in the Phillips auction. This has affected the price, value and confidence of expensive straight lug Speedmasters – In fact since then Phillips have not even tried to sell one.
High priced ($50,000+) Speedmasters are, for the moment, in the realm of private sales. There have been several sales of special watches reported to me at these levels. This was not the case six months ago, when no big sales were happening.
We have seen unprecedented changes in the market. As I have alluded to many times, the influence of dealers changed the Speedmaster market, mostly at the higher end. If you are a dealer, messing about with $4000 to 10,000 watches, that doesn’t leave a lot of room for profit, and any profit you might make could be wiped out with a warranty claim. So dealers headed for the 2998’s and Ed Whites. The result of this is that for a while now, there are several straight lug Speedmasters hanging around at unrealistic prices over $30,000 that do not have a special appeal. I checked one on C24 just now that has been on the market for two years. This can lead us into thinking the market for straight lugs is stagnant – it is not stagnant, it just is not with the dealers with sticky stock that they bought three or four years ago.
There are a couple of vintage dealers (in all marques, who know what they are doing in the broader vintage market) who do have (fresh) nice 2998’s at around that price, and I expect them to sell, and I will be watching. This is because they are very attractive watches, from reputable dealers.
Several “hobby Dealers” have offered me Speedmasters in the $15,000 to 25,000 range that I valued at half what they asked. Private sellers are more likely to have a realistic price. In other words, those who bought for profit are realizing that they did not buy with the discernment needed to re-sell. Private buyers usually bought with better judgement because they were buying things they actually liked, and wanted to look at and wear. The dealers were ticking boxes and making mistakes.
What I have seen in the last three months is this:
Reference | Poor | Fair | Good | Very Good | Excellent | |
---|---|---|---|---|---|---|
2915-1 | No Data | 30,000* | 60,000 | 125,000 | 150,000 | |
2915-2 | No Data | 30,000* | 52,000* | 110000 | 140,000 | |
2915-3 | Broad Arrow / Steel bezel | No Data | No Data | 35,000* | 50000* | 90,000* |
2915-3 | Alpha/BASE1000 | No Data | 14,000* | 25,000* | 40000* | 65,000* |
2998-1 | BASE1000 | No Data | 12,000* | 24,000 | 35,000 | 50,000* |
2998-2 | BASE1000 | No Data | 11,000* | 24,000 | 35,000 | 44,000* |
2998-3 | 6,000 | 9,000 | 16,000 | 22,000 | 31,000 | |
2998-4 | 6,000 | 9,000 | 16,000 | 22,000 | 31,000 | |
2998-5 | 6,000 | 9,000 | 16,000 | 22,000 | 31,000 | |
2998-6 | 6,000 | 9,000 | 16,000 | 22,000 | 31,000 | |
2998-61 | 6,000 | 9,000 | 16,000 | 22,000 | 31,000 | |
2998-62 | 6,000 | 9,000 | 16,000 | 22,000 | 31,000 | |
105002-62 | Alpha Hands | No Data | 6500 | 14,000 | 21,000 | 25,000 |
105002-62 | Baton Hands | No Data | 5000 | 11000 | 16000 | 22,000 |
105003-63 | No Data | 5000 | 11000 | 15800 | 21,000 | |
105003-64 | No Data | 5000 | 11000 | 15800 | 22,000 | |
105003-65 | No Data | 5000 | 11000 | 15800 | 22,000 | |
105012-63 | SWISS only | No Data | 4,500 | 10,000 | 15,000 | 20,000 |
105012-64 | No Data | 4,500 | 9,000 | 14,000 | 20,000 | |
105012-65 | No Data | 4,500 | 9,000 | 14,000 | 20,000 | |
105012-66 | No Data | 4800 | 9300 | 14500 | 21000 | |
145012-67 | 3300 | 4000 | 6500 | 11500 | 15800 | |
145012-68 | 3300 | 4000 | 6500 | 11500 | 15800 | |
145022-68 | Transitional | 3300 | 4000 | 6800 | 8500 | 12800 |
145022-69 | DO90 | 2800 | 3100 | 5400 | 7800 | 12,500 |
145022-69 | DN90 | 2400 | 2800 | 4400 | 5600 | 7800 |
145022-69 SW | Apollo | No Data | No Data | 5600 | 8100 | 12,200 |
145022-69 SW | Flight Q. | 3000 | 3300 | 4900 | 6400 | 8900 |
145022-71 NN | No Nasa | No Data | 3500 | 4800 | 6400 | 10500 |
145022-71 | 2200 | 3000 | 4500 | 5800 | 7800 | |
145022-74 | No Step Dial | 2100 | 2400 | 3200 | 4900 | 6800 |
145022-76, & 78 | 2000 | 2200 | 3000 | 4300 | 6500 | |
Specials: | ||||||
Blue Metalic Dial | 20,000 | 30,000 | 40,000 | 65,000 | 95,000 | |
145012-67 | Ultraman | No Data | 16,000 | 25,000 | 34,000 | 48,000* |
145012-67 | NonPro Black Racing | No Data | 40,000* | 60,000 | 78,000 | 100,000 |
145012-67 | Pro Black racing | No Data | 40,000* | 65,000 | 80,000 | 110,000 |
145022-69 | Grey Racing | No Data | No Data | 48,000* | 70,000* | 95,000* |
BA145022-69 | 18Kt Yellow Gold, inc bracelet | 25,000 | 28000* | 40,000 | 65,000 | 75,000 |
145022 | Apollo Soyuz | No Data | 25,000 | 48,000 | 60,000 | 80,000 |
Alaska III | No Data | No Data | No Data | 185,000* | 200,000* |
Remember, a “Collector’s Condition” 2915 is probably not the same as a “Collector’s Condition” 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 the valuation 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 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.
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 discolored 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.