Editorial: All the Fuss Over a “Franken” Omega Speedmaster
Earlier this week, leading Swiss-German newspapers Neue Zürcher Zeitung (NZZ) published a lengthy story about the possible fraud behind the record-setting sale of an Omega Speedmaster ref. 2915-1 at Phillips in 2021. Mystifying at the time, the CHF3.12 million result was a huge number that far exceeded past records for that particular Speedmaster. As NZZ revealed in its story, the Speedmaster in question was a “Franken” watch pieced together from assorted vintage components – and some fake parts – and it was purchased by Omega itself, on the advice of its then museum head. The allegations are that the then museum head was in cahoots with the seller of the watch. Omega has gone to the police with this, and also released a statement, noting in part, “Omega and Phillips were the joint victims of organised criminal activity involving the selling of this specific watch by auction.” The Omega Museum, which fortunately has enough correct and legitimate vintage Speedmasters on display. Image – Omega Both Omega and Phillips should have done more due diligence, but it appears a few bad actors were diligent in allegedly defrauding Omega. For more on the matter, Dutch watch publication Fratello published an excellent examination of the happenings. The alleged fraud has been covered widely in the mass media, from Bloomberg to Fortune, ironically the same publications that last year touted the success and value-appreciation of the Speedmaster. Mountains and molehills The ...
Fratello
