The Speedmaster, which has been ɾєⱱєɑłєԀ as a Frankenwatch, was sold at Phillips in November 2021.
An immaculateoriginal Omega Speedmasterfrom 1957 seemed almost too good to be true—and it was.
TheRef. 2915-1, which sold for a record high $3.4 million atPhillipsin November 2021, was Frankensteined together using parts from other vintage watches, as ɾєρօɾτed byBloomberg.
Turns out thatnot just collectors, but even brands themselves can be duped on the authenticity of their own product—andOmegahas alleged that this example had inside help. The company claims three former employees were involved in the elaborate scheme. The final hammer price was over 25 times the pre-sale high estimate of $131,000. Omega ɾєρօɾτedly bought the watch for its in-house collection.
The Swiss watchmaker claims that a former employee of its museum and brand heritage department “worked in tandem with intermediaries to purchase the watch for the Omega Museum.” The ex-employee ɾєρօɾτedly told company executives that it “was a rare and exceptional timepiece that would be an absolute must” for the in-house collection.
The timepiece appeared to be a pristine, first-generation example of the iconic Speedmaster. The watch was distinguished by a tropical dial, a “Broad Arrow” hour hand, a metal bezel with a tachymeter scale, and an oval “O” Omega logo. But the wrist candy was, in fact, cobbled together using components from mostly authentic timepieces and other potentially fabricated parts. Omega alleges that the three ex-staffers who participated in the ruse may have been involved in the watch’s assembly.
“Its false legacy allowed the profiteers to justify a highly inflated bid made thɾօυɢҺ the intermediaries,” the watchmaker said.
Omega does not yet know who took the knock-off Speedmaster to Phillips to sell at theGeneva Watch Auction XIV. The auction house hasn’t identified the seller due to client confidentiality rules, but a spokesperson for Phillips toldRobb ɾєρօɾτit would do so at the request of authorities.
Phillips was ɾєρօɾτedly unaware of the alleged criminal activity when it consigned the watch and carried out due diligence before sєɴԀing it under the gavel. The auction house obtained confirmation from Omega regarding the date of manufacture of the numbered movement, the model of the watch that the movement was fitted to, the date it was sold, and its serial number.
“Until last week, nobody had ever suggested this Omega watch was not authentic,” the Phillips spokesperson toldRobb ɾєρօɾτvia email. “The watch was inspected by specialists, experts, and even the manufacturer at the time of the sale and nobody raised any concerns over it.”
It goes without saying that collectors expect watches to feature their original parts—or at least transparency regarding any modifications—and as a result, models that stay in their factory-built configurations are worth more than ones that have been altered. Phillips says that it does not offer watches unless it is 100 percent satisfied with their authenticity.
“On the extremely rare occasions where a watch is so important that it can be offered despite having a part which is not original or which is made at a later date, then this will be highlighted in the catalog notes or condition ɾєρօɾτ,” the spokesperson said.
The secondary market is now rife with meticulously forged replicas and Frankenstein models that could fool even the most well-respected auction houses and watchmakers. Experts advise collectors to remember the adage that if something seems too good to be true, it probably is.
Omega did not immediately respond toRobb ɾєρօɾτ’s request for comment.
