I spotted this on Ebay, closed 9th March  2020

Ebay continues to provide all sorts of interesting speedmasters, good and bad. The one thing I love is that we see a wide range, but also we see where the support in the market lies. This watch is complete rubbish and sold for $6,300 in spite of coming from a South American country and all the risks that involves regarding delivery.

$6,300 is a substantial amount of money to put down, when you consider the risks. specifically the watch is coming from Venezuela, it has no confirmation that the movement is an Ed White, and the condition is very poor, so that we cannot be sure of a substantial improvement after a sympathetic service – though no doubt if done properly it will come better.

The original listing is here, though I am reproducing a lot of photos as these ebay links often  don’t last.

Most striking from the photo is the blue bezel, the incorrect hands and the otherwise poor condition.

This watch had plenty of bidders, 8 different people.
 
This watch generated a lot of interest, and that is interesting as it shows there is a market for low priced straight lugs, even with problems and issues. It gives an opportunity to acquire a relatively rare reference for much less than a good one, perhaps half. Another way to look at it, is find me an Ed White for under $7,000
 
The buyer does have a challenge: there is no point in swapping the dial for a good dial as we still have a poor case. No point in swapping the case, because we have a poor dial. What about swapping the case and the dial? Well then you might as well start with a different watch.
 
So is there anything good?
 
Well we have a blue tinted DO90 bezel in poor condition, a correct Ed White dial in poor condition, incorrect hands, possible correct movement and a case with plenty of wear and minor corrosion.
 
It could make a pleasing wearable watch that has original parts for much less cost than a better quality one.
 
Lets look closer.

The Dial

The dial is a stepped, applied logo, non professional with close spaced T’s.
This is original and correct for a 105.003. Looking at the condition, its missing all the lume material, and some of the underlying marker paint.Otherwise the print is in good condition.
This dial is a prime candidate for a re lume, and I am sure that is what the buyer must have in mind.

The Bezel

This bezel has a blue tint to it, and there are some collectors who enjoy this. I personally don’t but I do not criticize someone who does. The blue colour is dependent on the light quality and angle and is variable – the seller has managed to capture this.

I would say the quality of this bezel is poor, based on the surface damage and the left side damage, but that people will value it becasue of the colour.

 

The Case

The case shows some minor corrosion at the lip. I believe the case is correct. I am concerned but that metal ring in the case back.

The pushers and crown may well be original – but I am not certain about the pushers. If I was the buyer it would not matter as I would replace them with correct Omega service items.

The Movement

This looks fairly clean and in good condition. There is some obvious corrosion on the regulator and also on some other white metal parts. The copper coloured parts are clean and in good condition. I have seen a lot worse out of South America!

Screws are pretty good, and this movement will come good with the right service.

AS this does not have an extract, the buyer will be gambling that it is indeed and Ed White movement, as this affects the value greatly.

 

The hands

These are obviously incorrect, and I think they are from a MkII. This is a common thing to see, especially in Speedmasters from far flung locations where presumably watchmakers throw on what they can get.

Conclusion

We can grade each part on this watch:

  • Dial – Poor
  • Bezel – Poor
  • Case – Fair
  • Movement – Good, Improvable by Service
So we can look at the chart and see a 105.003-65 is:
POOR $6,000     FAIR $10,000
 
For me this watch is a firm POOR
 
Now we have to add or subtract for some things….
 
  • Bracelet: nothing
  • Blue Bezel: ?+400
  • Dial: Potential for relume and a good looking dial? +$????
  • Risk of location?
  • Risk of Extract failure?
  • Case back ring – is it a sign of an irreparable issue?
 
Its really difficult to arrive at a hard value when the quality is as low as this. But we can get a ball park. We can also consider the value as parts, which is to me around $5,000.
 
However, if I look around there is no comparable for $5,000 to $7,000 on the market right now.
 
 
 
 

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