Vintage Speedmaster's (what should I expect to pay?)
Revisited for January 2001 ...
Originally Written by Chuck Maddox on 18 June 2000,
Last Revised: 27 February, 2001, 01:22 GMT
Certain Rights Reserved...
In June 2000 a reader in the Omega Forum asked:
 
What price can I expect to pay for a secondhand Speedmaster?

The short answer is "What the market will bear", but what is that? My reply was somewhat longer and eventually was as TZClassic 1304: How much would I expect to pay for a vintage Speedmaster?.

While for the most part the original document has held up better than I had hoped it is now outdated in several ways.

  1. The prices have changed in many cases.
  2. I have a couple of the model numbers slightly off when referring to them in the original document.

Thus I am revisiting the old document to bring it up to this date, correct it and perhaps add some additional information. I am including the values I gave in the original document to serve as a time/data reference point for what the going values were in June 2000. This will allow one to get a sense of trends in these values.

Contents:
Important Disclaimer
The Pre-Pro Models:
1957 Speedmaster CK2915
1958~63 Speedmaster CK2998/ST105.002
1964~65 Speedmaster ST105.003
The Professional c.321 Models:
1965 Speedmaster Professional ST105.012
Sidebar: Speedmaster evolution
1966-67 Speedmaster Pro ST145.012
The Pro. c.861 Models (Pre & Post Moon):
1968-69 Speedmaster ST145.022:
c.1970?~77? Speedmaster ST145.022
c.1978 and newer Speedmaster's:
Anniversary & Commemorative Editions...
Anniversary Editions
Commemorative or "Mission Watches":
Summary and closing thoughts...
Consolidated Pricing Table:
Closing Thoughts
Afterword: Looking back on 2001...
Addendum: How to determine street price...
Certain Rights Reserved
 

Once again this important disclaimer: 

[Please be aware that the prices mentioned in this post are speculative, based on the author's observations as of 28 January 2001. Watches, vintage watches in particular, are a commodity and as such are volatile and subject to supply & demand... In addition they will vary widely because of condition, originality, papers (if any), open warrantee, other "Extras", and intangibles. There are plenty of poorly maintained, cobbled together, faked model's rare and otherwise out there on the market. Be very cautious and remember any printed document is no substitute for a dialog in a watch forum. If you have questions speak up, or be prepared to make mistakes. To put it simply... Your decisions are your own, make them wisely... -- Chuck Maddox 28 January 2001]

Addendum: The quickest way to get a short term picture of the value of any thing is to do a completed auction search on any topic on eBay. This will show you what the price is at close of auctions for items similar to your search criteria. Of course you will have to pick through the resulting listing for comparative condition, location, extra's, etc. of each item as well as if the reserve was met, but this will give you a basis idea as what similar items have been closing at for the previous couple of weeks...

   
In Chronological Production Order:

The Pre-Pro Models:

1957 Speedmaster CK2915:


The first Speedmaster Models that Omega produced are the 1957 Speedmaster CK2915. It is safe to call these models the only "Pre-NASA" model. I have not seen any document that anyone associated with NASA ever used or contemplated using this model. As it was the first model made, it is very distinctive (silver bezel, broad arrow hour hand and wide sword minute hand, with the straight case) and they were only in production for one year, they are very rare, highly desired, and fetch exceedingly high asking and selling prices.

In June 2000 I had stated:

Original 1957 models (2915's) are in-orbit fetching $3,000 and up.
Truth be told I have only seen one or two of these models even offered for sale in the past couple of months, and the asking price has been $7,000 and up. Ouch! I do not know if any of the CK2915's are actually finding buyers at that price but that is what people are asking...
 

Model:

Price Range

Remarks:

June 2000
January 2001

1957 Speedmaster CK2915

$3,000 and up
$7,000 and up

Lack of sales makes this assessment difficult. Asking prices have gone through the roof!


1958~1963 Speedmaster CK2998/ST105.002:


Shortly after introduction in 1957 several serious shortcomings of the design came to light.
  1. While the black Arabics on brushed steel on the Tachymetre bezel is easier for the eye to read quickly, the brushed finish could catch glare from the sun, not desirable on a watch intended for use by Pilots, Drivers, and boatsmen.
    • This was solved by switching to an enameled Silver on Black Tachymetre bezel
  2. The large "Arrowshead" hour hand covered up far too much of the dial and sub-dials limiting the usefulness of the watch.
    • This was addressed by switching to Dauphine-styled main timekeeping hands.
In June 2000 I had stated:
The next model the CK2998 (a.k.a. the Wally Schirra as it was the model he wore on his Sigma 7 flight) () also fetch sub-orbital prices from $2,000 and up.
xx.xx
 

I've seen several of these Speedy's come up for sale and they seem to sell right around $2,500 for the most part.

Model:

Price Range

Remarks:

June 2000
January 2001

1958~1963 Speedmaster CK2998

$2,000 and up
$2,000-$3,000

Seen several sales, median seems to be $2,500


1964~1965 Speedmaster ST105.003:


Next up is the Pre-Pro Moon (ST105.003 or the "Ed White"). Still not satisfied with the main timekeeping hands, Omega changed these hands from their Dauphine Hands to simple white "stick" hands. Since the sub-dial hands were also of Dauphine shape they also were changed to simple white stick hands...

In June 2000 I had stated:

I purchased mine around Thanksgiving 1999 for $1250, but there is a nearly identical example to mine (the dial isn't as good) that is being offered on eBay and it was at $1,591 last night with 4 days+ to go on the auction. it is interesting to watch this auction as it is the first one of this particular model in excellent condition in quite some time. At the moment it is reaching the stratosphere... But who knows how high it will go.

The eBay auction I elude to ended up going over $2,100 dollars... Since then both the range of prices and the average have increased a couple of hundred dollars within the $1,200~$2,400.
 

Model:

Price Range

Remarks:

June 2000
January 2001

1964~1965 Speedmaster 105.003

$1,200~$2,400
$1,400~$2,500

Lack of sales makes this assessment difficult. Asking prices have gone through the roof!


Summary: These are all of the "Pre-Pro" models. They are becoming harder to find are starting to rise in price. The prices have been climbing of all models of c.321 since some posts were made in the fall of 1999 on display back c.321 conversions. My Gallery of c.321 Display Back conversions has done nothing to slow this effect on the values of c.321 Speedmaster's.

The Professional c.321 Models:


While the Pre-Pro's ceased production at some point in 1965, the production of c.321 Speedmaster's continued until 1968 when the c.861 was adopted. But there was a little twist along the way.

1965 Speedmaster ST105.012:


After learning of NASA's adoption of the Speedmaster via pictures in Life Magazine taken during Ed H. White II's Space Walk during Gemini 4, Omega decided to rename the Speedmaster the Speedmaster Professional. Omega also changed the Model number for this revised model from ST105.003 to ST105.012. The odd thing about this is apparently this model number was only in use for a few short months at the end of 1965. Shortly thereafter Omega once again changed the Model number once again to ST145.012. Hence one would think that the ST105.012 would fetch a premium because of the short production run. However, from what I've seen people are unaware of this distinction, as I was when I wrote the first version of this document... In fact in the original document I lumped the ST105.012's in with the later ST145.012's. Fortunately since the pricing is pretty much the same it is not a big deal.

Here is what I wrote in June 2000:

Next up is the Speedmaster Professional c.321 (ST105.012). The prices on these have also risen in the past 8-10 months. I paid $900 for my 92%-95% example last December. Since then I've seen them go for just under $1,000 to being offered on overseas dealer sites for upwards of $1,500. This is the last model that uses the c.321 movement.
The prices of both the ST105.012 and the ST145.012 have been slowly rising for the most part since the first article. But for some reason I don't really understand I've seen two or three pretty nice examples go for significantly under $1,000 in the past two or three weeks on eBay. So while the range is broader the average price is actually about the same. It is unknown if lower prices for ST145.012 will continue or is merely people selling off their examples in a post-holiday/pre-taxes revenue building measure. I would expect prices of the ST105.012 to increase as more people learn to look for this model...

Model:

Price Range

Remarks:

June 2000
January 2001

1965 Speedmaster 105.012

$900~$1,500
$800~$1,800

I believe that as more people learn about this model they value will increase...

 
Sidebar: Speedmaster evolution towards the current design...

The following Speedmaster design features were established with the:

  • CK2915 [Original 1957] Hesalite Crystal. [1957 models]: current Silver on Black metal Tachy Bezel begin appearing on CK2915-3 models and continue on through current models with variations in font and spelling of "Tachymetre"...
  • CK2998/ST105.002 ["Wally Schirra" Dauphine Hands]
  • ST105.003 ["Ed White" Pre-Pro c.321]: current "white stick" timekeeping and sub-dial hands.[1963 through some 1965 models]
  • ST105.012 [Pre-Moon Professional c.321]: "Professional" dial text, larger modern asymmetrical case design [flared lugs/crown guard] with 20mm Lugs, "Single Angle" caseback design... [some 1965 models]
  • ST145.003 [Pre-Moon c.321]: Omega changed Case Reference nomenclature necessitating new numbers for the 105.003 and 105.012. This is the new reference number for the "Plain Lug" Speedmaster.
  • ST145.012 [Pre-Moon Professional c.321] no changes to Bombé (twisted lug) 105.012 Speedmaster, but production ran from 1966 through 1967 and into October 1968... There is some question if this model or the previous model ST105.012 was what Buzz Aldrin wore on the moon. Omega via John Diethelm has indicated that they know it to be a ST145.012, but a picture in the Time Capsule (Page 107) shows a bin with a number of Speedmasters from this lot and the picture is in the 1965 section. So it's possible that Aldrin's watch is a ST105.012...
  • ST145.022 [Pre-Moon Professional c.861] modern dial logo design [painted white Omega logo instead of the metal applied Omega logo] and c.861 movement. These models can be further broken down into “Pre-Moon Backs” from late 1968 through mid to late 1969, “1st Moon Backs” from late 1969 through mid 1971, and “Modern Moon casebacks”. To learn more on how to discern between these three casebacks link to the article here...
Thus, about the only thing that is the same from the 1957 Speedmaster through the first "Man on the Moon" caseback watch is the crystal... Every other component [Pushers, Crowns, Dials, Hands, Case, Movement, Caseback...] had been changed, sometimes multiple times during this period... Shortly after the July 1969 Apollo 11 moon landing, Omega changed the caseback to reflect that the Speedmaster was "the first watch worn on the moon". So the only common components between a 1969 Speedmaster Pro and its 1957 Speedmaster ancestor is the crystal. And I'm not 100% sure that the Crystal didn't see some changes too!
 
The next major change, aside from commemorative editions to the main moonwatch line, was the adoption of the c.1861/c.1863 movement with Rhodium plating [instead of Gilt], and an extra jewel in the mid/late 1990's.

Note: These are Design Features. There have been many more changes to specific items, like the font of the Tachymetre bezel for example, since then. However, the basic design style has been the same since the models noted above...
For more detailed information: Please check out Gerry L.'s Excellent: Time Zone Classic 441: Prelude to the Moonwatch: Evolution of the 321 Speedmaster's...
 

1966-1967 Speedmaster ST145.012:


As far as anyone has been able to determine, it is most likely that this is the exact model that Buzz Aldrin wore on the moon, according to Omega and other evidence I and others have quantified. As such it also is likely to be the largest body of Pre-Moon Speedmaster Professionals seem to be the ST145.012 of 1966 and 1967. I do not know what the specific date of transition from the c.321 movement to the c.861, but several sources say this occurred in 1968. I do not know when in 1968 though. I have yet to see a ST145.012-68, I've only seen ST145.022-68's so it seems likely that the change occurred at or near the beginning of 1968. As I had inadvertently lumped together the ST105.012 and the ST145.012 in the previous article what I said in June 2000 for the ST105.012 is the same thing as the ST145.012:

Here again is what I wrote in June 2000:

Next up is the Speedmaster Professional c.321 (ST105.012). The prices on these have also risen in the past 8-10 months. I paid $900 for my 92%-95% example (which is a ST145.012-67 but I hadn't had the back open before writing the previous article) in December 1999. Since then I've seen them go for just under $1,000 to being offered on overseas dealer sites for upwards of $1,500. This is the last model that uses the c.321 movement.
The prices of both the ST105.012 and the ST145.012 have been slowly rising for the most part since the first article. But for some reason I don't really understand I've seen two or three pretty nice examples go for significantly under $1,000 in the past two or three weeks on eBay. So while the range is broader the average price is actually about the same. It is unknown if lower prices for ST145.012 will continue or is merely people selling off their examples in a post-holiday/pre-taxes revenue building measure. I would expect prices of the ST105.012 to increase as more people learn to look for and seek out this particular model number.
   

Model:

Price Range

Remarks:

June 2000
January 2001

1966-1967 Speedmaster 145.012

$900~$1,500
$800~$1,800

At this point the price of this model seems to have stabilized for the time being...


The Professional c.861 Models (Pre & Post Moon):

1968-1969 Speedmaster ST145.022:

Then there are the "Pre-Moon Pro c.861's" (ST145.022) which have the exact external appearance of the modern moonwatch except for the caseback which bears no mention of NASA or moon landings. These were only made from approximately 1968 through the first part of 1969 and has the older "large Seamonster" case back.
 
In June 2000 I had stated:
 
These have been running from $750-$1,200 from what I've seen.

The prices on these watches have been stable at the June 2000 prices from my observations.
 

Model:

Price Range

Remarks:

June 2000
January 2001

1968-9 Speedmaster Pro 145.022

$750~$1,200
$750~$1,200

This model's value seems stable...


c.1970?~1977? Speedmaster ST145.022:


Then we have the first of the "Post Moon" watches... These are the one's with the large Omega Logo and the words "First watch Worn on the moon"... These were made from late 1969 or 1970 through 1977 or so (I believe that's the date) when the "modern/current" moonwatch back became the installed caseback.

In June 2000 I had stated:

These have a similar price range as the last of the Pre-Moon Pro c.861's with about a $100 less price range typically.

Model:

Price Range

Remarks:

June 2000
January 2001

1970-7 Speedmaster Pro 145.022

$700~$1,200
$700~$1,200

This model's value seems stable...


c.1978 and newer Speedmaster's:


We've then moved to the largest body of "Vintage" Speedmaster Pro's... These are the familiar Speedmaster moonwatches that have the "The First Watch Worn On The Moon -- Flight Qualified by NASA for All Manned Space Missions" inscription with the "Mini-SeaMonster" logo in the center. In other words the modern version's.

In June 2000 I had stated:

These typically fetch prices in the $800-$1,100 range.

It is my observation that these prices are stable as well...

Model:

Price Range

Remarks:

June 2000
January 2001

1978+ Speedmaster Pro 145.022

$800~$1,100
$800~$1,100

This model's value seems stable...


Anniversary & Commemorative Editions...

Anniversary Editions:


As the popularity of the Speedmaster seems to be a constant and that the are seen as one of Omega's finest achievements, Omega has chosen to mark anniversaries of being the first watch worn on the moon with a number of Anniversary Editions starting in 1980 with a 10th Anniversary edition. These models are typically only distinguished by engraving on the 9 o'clock side of the case with Apollo XI and a limited edition number xxxx/xxxx. However the recent 30th Anniversary also had a modified caseback that stated "Houston, Tranquility Base Here... The Eagle has landed" with the time and date (in GMT time) "July 21,1969, 02:56 GMT" around an applied medallion of the Apollo 11 mission patch.

In June 2000 I had stated:

These Speedmaster's vary widely in price with 20th anniversary editions going upwards of $2,200+ when they appear, to somewhat less for 25th and 30th anniversary editions.

I have yet to see a 10th Anniversary edition for sale. I don't even know how many were made, only that both Yellow Gold and White Gold versions were made in addition to Stainless Steel. As such I'm not able to venture a guess on valuation on them. The other models are as follows.

Model:

Price Range

Remarks:

June 2000
January 2001

1980 10th Anniversary Edition

Unknown
Unknown

Unknown number made, rarely seen for sale...

1989 20th Anniversary Edition

$2,200+
Around $2,000

2,000 made

1994 25th Anniversary Edition

$1,800-$2,000
$1,800-$2,000

2,500 made

1999 30th Anniversary Edition

$1,700-$1,900
$1,700-$1,900

10,000 made

Commemorative or "Mission Watches":


The mission patch watches are called that because a graphic of specific Gemini/Apollo/Skylab mission patch replace the sub-second register.

In June 2000 I had stated:

These also vary greatly in price with "popular missions" like Apollo's 8/11/13 fetching prices in the "high teens" and above. Less popular, less widely known/remembered missions fetching significantly less in the $1,250 to $1,500 range.
For the most part these prices have been stable but the range of prices have increased slightly... Note that sometimes the Apollo 17 commemorative can reach the price of the "popular" Apollo's 8/11/13 as it was the last moon mission...

Model:

Price Range

Remarks:

June 2000
January 2001

Apollo 8/11/13 Missions

$1,750-$1,900
$1,700-$2,000

Apollo 17 can sometimes go in this range as it was the last moon mission...

Other Mission Watches

$1,250-$1,500
$1,250-$1,600


Summary and closing thoughts...


Here are all of the valuations together in one place...

Consolidated Pricing Table:

Model:

Price Range

Remarks:

June 2000
January 2001

The Pre-Pro Models:

1957 Speedmaster CK2915

$3,000 and up
$7,000 and up

Lack of sales makes this assessment difficult. Asking prices have gone through the roof!

1958~1963 Speedmaster CK2998

$2,000 and up
$2,000-$3,000

Seen several sales, median seems to be $2,500

1964~1965 Speedmaster 105.003

$1,200~$2,400
$1,400~$2,500

Lack of sales makes this assessment difficult. Asking prices have gone through the roof!

The Professional c.321 Models:

1965 Speedmaster Pro 105.012

$900~$1,500
$800~$1,800

I believe that as more people learn about this model they value will increase...

1966-7 Speedmaster Pro 145.012

$900~$1,500
$800~$1,800

At this point the price of this model seems to have stabilized for the time being...

The Professional c.861 Models (Pre & Post Moon):

1968-9 Speedmaster Pro 145.022

$750~$1,200
$750~$1,200

This model's value seems stable...

1970-7 Speedmaster Pro 145.022

$700~$1,200
$700~$1,200

This model's value seems stable...

1978+ Speedmaster Pro 145.022

$800~$1,100
$800~$1,100

This model's value seems stable...

Anniversary & Commemorative Editions...

1980 10th Anniversary Edition

Unknown
Unknown

Unknown number made, rarely seen for sale...

1989 20th Anniversary Edition

$2,200+
Around $2,000

2,000 made

1994 25th Anniversary Edition

$1,800-$2,000
$1,800-$2,000

2,500 made

1999 30th Anniversary Edition

$1,700-$1,900
$1,700-$1,900

10,000 made

Apollo 8/11/13 Missions

$1,750-$1,900
$1,700-$2,000

Apollo 17 can sometimes go in this range as it was the last moon mission...

Other Mission Watches

$1,250-$1,500
$1,250-$1,600


In June 2000 I had stated:

These are all prices that I have seen on auction sites, web dealers, and Watch Site Sales Corner(s)... They reflect my memory and impressions as of this date [16-June-2000] and will change probably even before I post this message. Remember that price will vary widely because of condition, papers (if any), other "Extras", scarcity, demand as well as other intangibles.

All of the above remains just as true today as it was when I first wrote it.

Again this important disclaimer:
 

[Please be aware that the prices mentioned in this post are speculative, based on the author's observations as of 28 January 2001. Watches, vintage watches in particular, are a commodity and as such are volatile and subject to supply & demand... In addition they will vary widely because of condition, originality, papers (if any), open warrantee, other "Extras", and intangibles. There are plenty of poorly maintained, cobbled together, faked model's rare and otherwise out there on the market. Be very cautious and remember any printed document is no substitute for a dialog in a watch forum. If you have questions speak up, or be prepared to make mistakes. To put it simply... Your decisions are your own, make them wisely... -- Chuck Maddox 28 January 2001]

The bottom line on the value of any item is what a buyer is willing to pay...

I hope this is helpful...

-- Chuck


Afterword: Thoughts on watch values looking back on 2001...

on 16 December 2001 K.J. O'Brien asked the following questions (in bold italic type). My responses will serve as a basic overview to values over the past year:

To: Chuck Maddox:Value of Speedmasters drop ???

Chuck - I know you watch the value of the different Speedys and have posted articles to back up what you say.

Actually, any more I really only watch the values of pieces I'm actively seeking for my collection or passively looking for bargains for on any sort of consistant basis. I have not been keeping a constant eye on Speedmaster values in general... I have been known to take a snapshot of values from time to time and compare/contrast them with past snapshots, but it's always been more of a stop-action sort of affair not a motion picture.

Have you noticed a recent {last 4 months} a bit of a decline in the values of the high end Speedys-125's,2998's,other pre-moons and some moons?

Well, and again as I have said I haven't been keeping as close of a watch, I believe it is a fair statement to say that in general the values of watches has been flat. I haven't really noticed any great drop, but I haven't been following it with a zeal necessary to give a real definate statement.

But some thoughts to consider...

There have been a lot of people taking up the collecting of watches in the past couple of years, myself among them. One of the few things that have acted as a check against increasing prices has been the world economy.

Now people say that the U.S. is in a recession, and the economists have now said that the recession started as early as March of this (2001) year. Well, I have news for them... The world economy has been slowing down as far back as the "Asian Contagion", in late 1997... Before that the world economy was going great guns. Since then growth has been on a decline. As economist's definition of a recession is an economy that is not growing they are perhaps correct that the recession is a recent thing. But the economic slowdown started much much earlier. The economy was still growing before then, just not as quickly, but instead steadily slowing. 'til this year when it's movement slowed down to the point it started shrinking...

When people are concerned about the future of the economy they are less likely to part with money in hand, especially for luxury goods. This has been a restraining factor in values of watches on the vintage market. The less healthy the economy has been the greater the drag on values. Increased interest and more limited availability are thrust.

The events of 11 September and since have had an impact on the values of most watches on the market. Something like 700,000 ~ 1,000,000 people in the U.S. are out of work since 9/11 and people who are out of work don't tend to purchase luxury goods at the same pace as employed folk, nor to people who are concerned about being laid off. And like it or not, vintage watches are a luxury good.

In fact there were a number of watch bargains in the short-term aftermath of 9/11, from what I've observed.

So, in general, it seems to my admittedly casual observations that the values of most models have been flat when items have changed hands.

On the other hand the prices of the Anniversary-10th,20th,25th,30th moons continues to go up?

Frankly, I haven't seen any 10th's sell in the past couple of months (since 9/11), other models seem to be stable, that is flat. The value of the 125 seem to have come down some, but I think that is due as much to it's traditional issues (it's size, bulk and mass) and it's seeming unsuitability as a daily wearer for the people who have been snapping them up (primarily Japanese buyers) as anything else... Remember that the Speedmaster 125 also is an anniversary model, just not a moonwatch anniversary model... (Note: the value's of Speedmaster 125 have risen in the past year due to the popularity of a prime-time Japanese TV detective series).

Thanks Chuck...........KO

I feel that for the most part, many watches are just as hard to come by if not harder to come by than ever, however there are fewer people and dollars (Pounds, Euros, Marks, Gilders, Shekels, Rubles, Yen, etc) chasing them. If you remember the Supply and Demand Chart from Economics 101 you'll know that result in a flat price/value trend...

Good hunting...

-- Chuck

Addendum: The quickest way to get a short term picture of the value of any thing is to do a completed auction search on any topic on eBay. This will show you what the price is at close of auctions for items similar to your search criteria. Of course you will have to pick through the resulting listing for comparative condition, location, extra's, etc. of each item as well as to check to see if the reserve was met, but this will give you a basis idea as what similar items have been closing at for the previous couple of weeks...
Statement of rights retained and permissions granted...
 
Permission is granted for Damon, Derek, Frank, Ross or RJ to include within the FAQ's they are writing as long as credit (and a link to this article) is given. Permission for personal, educational or non-commercial use is granted. The author retains all other rights not specifically mentioned here... For all other use please contact the author.
 
Disclaimer: Opinions are my own and knowing me should be taken with a grain or two of salt...

-- Chuck (cmaddox@xnet.com)