While many watches are depreciating slightly, some references of the Omega Speedmaster Professional Moonwatch have actually gained value in the last quarter. In this article, I’d like to take a closer look at the current market for the Speedmaster and offer three reasons why the Omega Speedmaster Professional will continue to enjoy high value retention in 2022.
The Current Watch Market: Not Everyone’s a Winner
If we take a look at the current market for Omega Speedmaster models, we’ll quickly notice that some Speedmaster references have gained in value over the last quarter. However, this trend does not apply to all models in the series: references outside the Moonwatch or Professional series have lost significant value in recent months. One such model is the Omega Speedmaster Racing ref. 3188.8.131.52.01.001, which sold for 30% percent more in December 2021 than it did in June 2022. The polarizing Swatch X Omega MoonSwatch, which doesn’t belong to the core Speedmaster collection, is another candidate for the “losing” team. While market prices for the Bioceramic Speedy jumped shortly after its release at the end of March 2022, they have since dropped considerably. Based on the entire time it’s been on the market, the average price for the Swatch X Omega MoonSwatch on Chrono24 has hovered at around $630; yet as of June 2022 it’s already selling for an average of $500. That being said, this price is still around double the original list price. Such a downward trend was to be expected: the hype around the MoonSwatch has calmed down a bit since its release, and there are more pieces in circulation that Speedmaster fans can acquire.
By contrast, things are looking quite different for the Omega Speedmaster Professional Moonwatch lineup. No matter if it’s the traditional hesalite version or the latest sapphire reference, both have retained their value. Indeed, in the last quarter, they were even able to gain value. The ref. 3184.108.40.206.01.001 is particularly striking in this regard: this hesalite Speedy on a crocodile leather strap recorded a stunning 14% price increase in the last quarter. If you own an Omega Speedmaster Professional Moonwatch or are toying with the idea of buying one, you’ll be happy to hear that the legendary chronograph continues to display solid value retention in 2022. And this is despite the loss in value that some Omega watches are currently experiencing. Why is that? I’ll offer three reasons that are largely responsible for the Moonwatch’s success.
Reason 1: Modern Marketing
When it comes to marketing its watches, Omega has completely stepped up its game in the last two years. Now more than ever, the Swiss timepieces feature prominently in movies like James Bond and at sporting events such as the Olympics. The luxury watch brand’s Instagram account is teeming with stars and their commercial spots are lavish, creative productions. If you’ve ever bought an Omega watch, you’ll surely have noticed how the very presentation of the timepiece is an experience in and of itself. Hardly any other luxury watch manufacturer offers such creative, thematically appropriate, and sometimes even funny packaging as Omega – and they pull it all off without coming across as unintentionally comical. However, the biggest marketing stunt that has once again pushed the Omega Speedmaster into the limelight comes from the Swatch Group. Even if the MoonSwatch continues to divide the watch scene, the incredible hype surrounding the bioceramic timepiece has been a boon to the Omega Speedmaster. People who had never shown interest in luxury watches before are now well acquainted with the Omega icon. And watch collectors that Omega had previously been unable to reach or had even lost from their fan base are now back on board. I can speak from personal experience: it is only because of the MoonSwatch that I redirected my attention to the Omega Speedmaster and am now (once again) the proud owner of a legendary Moonwatch. Modern, fresh marketing also works for classics like the Omega Speedmaster: watches that stay in people’s minds and attract new buyers will naturally remain popular – and thus retain their value.
Reason 2: Incredible History
No other watch can boast such a great history as the Omega Speedmaster Professional. Space travel, the Apollo program, and the moon landing have made the Moonwatch an absolute icon. While these major events may have taken place quite some time ago, they have lost none of their fascinating allure even half a century later. The iconic space milestones are numerous: whether it is the first spacewalk by NASA astronaut Ed White, the first crewed spacecraft to orbit the moon with Apollo 8, the famous Apollo 13 rescue mission, or the moon landing(s), the Omega Speedmaster was always there and is an indelible part of the history of space exploration. Such momentous events remain unparalleled even after 50 years and still count among the greatest adventures of all time. No wonder this watch icon remains so stable in value and popularity even amidst major crises. With the Omega Speedmaster Professional, watch enthusiasts can be part of this great history.
Reason 3: Timeless Design
Let’s assume for a moment the Omega Speedmaster Professional didn’t have Omega’s excellent marketing team behind it, nor the legendary history that made it so famous in the first place. Would it still be the popular watch with high value retention that watch enthusiasts know and love today? The answer is a resounding yes. This is thanks to the Speedmaster Professional’s beautiful, iconic, and – most importantly – timeless design. Though the form and overall look have remained essentially unchanged since the late sixties, this classic timepiece still looks ultra-modern. Arguably, Swatch would not have enjoyed such success with the MoonSwatch if the design was not one of the best of all time. The great thing about the Omega Speedmaster is that it is more versatile than almost any other watch. Do you like a classic look? Then wear the legendary chronograph on a steel bracelet. Do you prefer a cool and casual vibe? Then go for the NATO strap. Do you want to show off your fondness for space travel? With a Velcro strap, the Omega icon will feel right at home on your wrist. Even a chic leather strap works well with the Speedy, almost giving it the feel of an elegant dress watch. No wonder watch enthusiasts refer to the Moonwatch as a “strap monster” – the watch pairs well with just about any strap. I’m not surprised that the Speedy continues to hold its value in 2022 and will likely only increase in value. Trends come and go, but iconic watches like the Omega Speedmaster stand the test of time precisely because of their timeless simplicity.