While the value of many luxury watches has been declining since 2022, some Omega Speedmaster Professional Moonwatch references have bucked the trend and actually increased in value. In this article, we’ll take a closer look at the market for the Speedmaster between December 2023 and June 2024. We’ll also highlight three reasons why the Omega Speedmaster Professional continues to retain its value in 2024.
The Current Watch Market: Not Everyone’s a Winner
Looking at the current market conditions for Omega Speedmaster models, it’s easy to see that some references have increased in value over the past six months. But that’s not the case for every model in the line.
References that aren’t part of the Moonwatch or Professional series have noticeably decreased in value in the last six months. One such model, the Omega Speedmaster Racing ref. 326.30.40.50.01.001, went for an average of $3,200 in December 2023. Six months later, prices for a mint-condition specimen were at $3,000. That’s a 6% decrease – 1% per month.
The Speedmaster Broad Arrow 1957 Trilogy (ref. 311.10.39.30.01.001) experienced an almost identical development. In December 2023, mint-condition prices were around $14,400. By mid-June 2024, the model cost $13,400 on average – a decrease of 6%. Almost identical percentages can also be seen for pre-worn Speedmasters of this reference as well.
How did the Omega Speedmaster Professional Moonwatch perform?
Both the latest reference and its predecessor, in the Hesalite and sapphire crystal variants, are retaining their value extremely well. The universally popular, last “true” Moonwatch ref. 311.30.42.30.01.005 has even seen a slight increase in value in the last six months. In December 2023, the model cost around $6,500 in mint condition. In June 2024, the average price was around $6,600, about 2% higher.
The current Moonwatch with a Hesalite crystal (ref. 310.30.42.50.01.001) decreased in value by just over 1%. But with prices at around $6,300, summer 2024 might be a good time to buy a mint condition model. The official list price is $7,000.
If you’re the proud owner of an Omega Speedmaster Professional Moonwatch, or if you’re thinking about buying one, you have reason to celebrate: the cult chronograph is retaining its value in 2024. Why is that? Here are three reasons for the Moonwatch’s success.
Reason 1: Clever Marketing
Omega has made enormous strides when it comes to marketing its watches. The Biel-based company is now even more present in films like James Bond and sporting events like the Olympics. Its Instagram account is full of top-notch celebrities, and its commercials are creatively conceived and lavishly produced. If you’ve ever bought an Omega watch, you’ve probably noticed what an experience the presentation of the watch is. It’s hard to think of another luxury watchmaker that offers such fitting, creative, and sometimes even funny packaging for its watches – all without seeming unintentionally odd.
Of course, their modern, fresh marketing also works for classics like the Omega Speedmaster. Watches that are memorable and attract new buyers remain popular – and retain their value.
Reason 2: The Incredible History of the Moonwatch
No other watch can boast such an incredible backstory 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 happened over 50 years ago, they haven’t lost any of their fascinating allure. And the list of the Moonwatch’s iconic space milestones is long! From the first spacewalk by NASA astronaut Ed White, to the first manned lunar orbit by Apollo 8, to the famous Apollo 13 rescue mission, to the moon landing(s), the Omega Speedmaster was there and is an indelible part of the history of space exploration. Such momentous events remain unparalleled half a century on and are still among the greatest adventures of all time. It’s no wonder that this watch icon has remained so stable in value and popularity even in the midst of major crises in the industry. With the Omega Speedmaster Professional, watch enthusiasts can be part of this great story.
Reason 3: Timeless Design
The design of the Speedmaster Professional is beautiful and, above all, timeless. Even though its general shape and design haven’t changed much since the late 60s, this legendary classic is still ultramodern. The great thing about the Omega Speedmaster is that it’s more versatile than almost any other watch. Like the classic look? Wear the legendary chronograph on a steel bracelet. Like a cool, casual look? Wear it with a NATO strap. Want to show off your love of space travel? The Speedmaster is right at home on a Velcro strap. Even a chic leather strap works with a Speedy for a look that approaches dress watch territory.
No wonder the Moonwatch is called the “strap monster” by watch enthusiasts – it can be worn on just about any strap or bracelet. This is also one of the reasons why the Speedy will still hold its value in 2024 and will probably continue to increase in price. Trends come and go, but iconic watches like the Omega Speedmaster stand the test of time thanks to their timeless simplicity.
