MASSIVE Omega Speedmaster FRAUD Claim

Here I share the news story about a massive case of Omega Speedmaster fraud. This is breaking news - I am merely reporting on it. There is pending investigation. It is alleged at the time of this video. Sources:

In this channel, I talk about watch dealing, watch trading, Rolex, Omega, Patek, Tudor, luxury watches, and other watch topics.

[glipabazza]

If it happens once... Who wants to buy expensive vintage watches now ?

[jamesblonde]

Perezcope broke this story and theres no "allegedly" to it, amazing journalist, well done for helping cover this. Also Omega's not able to "authenticate" watches due to the lack of paper records from the 20th century, they thus have to rely on their in house

[domokun]

it's a disgrace that all the watch media hasn't mentioned this when Perezscope was talking about this months ago. Furthermore Phillips has been trying to sue him into silence.

[dd-ddco]

This puts a huge dent in my vintage watch buying confidence. As a consumer there's not way we are going to know if the vintage watches we buy are fake or franken pieces without the help of an "official expert".

[luxuryfood]

Don’t buy vintage!!! That’s the simple answer. A new watch from 2023 are much better build and quality and much cheaper.

[garyd]

A shame that this happens. However, it's way above my paygrade. My only concern is that a brand sells quality products and stands behind them. Omega, in my experience, does that.

[dimman]

The auction houses notorious for "authenticating" vintage frankens. Anyone remember the "prototype" Patek Philippe Aquanaut, that was just an Aquanaut case with a butchered Comet Nautilus movement, dial and hands being sold at auction? The one Patek informed everyone that there was zero record of this watch in their archive. Which was as polite a way as possible of Patek telling everyone it was fake. Well it wasn't pulled from the auction and sold for around $400k. On a low auction estimate of $50k. So even the auction house was tacitly indicating it was a franken with that low estimate, (what is essentially if it were real a "piece unique" steel Patek sports watch for only $50k? Really?)

Perezscope has a pretty extensive history of calling out these franken-frauds, but usually when he's successful the auction house just quietly removes the offending piece and the whole operation of brands, auction houses, watch media, and buyers all magically develop collective amnesia over the whole thing.

It's actually kind of amazing this time that Omega even issued a statement let alone confirming the Franken status. Potentially it's because the brand was the authenticator as well as the conveniently over-market buyer at the same time. And it's even possible that they were the consignor, which might have been a step too far in the "buy back your own old watches at a massive premium to create the illusion of investment value in the brand " game that they all play.

[Robert-vwod]

This is absolutely fantastic, it’s hilarious and brands like omega totally deserve to be ripped off.

[jact]

Is it me or Philips auction has been associated with all these questionable vintage pieces? Why do people still have trust in this auction house if proven to be true?

[rickjason]

I don’t trust Omega anymore. They don’t have experts that can tell if the watch is real?

[chateaubullion]

Don't know enough about vintage watches so I stay away from them. That being said, I do own one vintage 1950's Timex Marlin, Caliber M22. My birth year watch.

[bnick]

Any company can have corrupt people working for them.

[tommytee]

99% of buyers have no idea whatsoever what they are buying.. unless you buy new from a AD you need to buy from a reputable dealer but even then there are no guarantees your piece is 100% genuine.

[LouisMorales-zxjm]

Amazing move by omega. Their marketing budget is only behind Rolex. They sell us the idea. We buy it. They Jack up prices. They win. Rolex still the master in marketing budget. Sadly I still buy them when I can.

[RollaArtis]

All these watch brands have a grossly inflated and artificial value due to successful marketing by manufacturers. Something which costs just a few dollars to make goes into a prestigious auction and the bidding is so arranged in order to fetch a 'record price'. It's been going on for years, but now it appears they got too greedy.

[vladchan]

The deep dark secrets of the Swiss watch industry. I wouldn't be surprised if a former Omega employee tragically falls off a cliff while on a stroll in the Swiss Alps

[lonewolfemcquade]

Omega has horrible marketing and embassador's. Zoe Kravitz? Seriously. I dig vintage Omega but modern Omega stinks it's embarrassing what's going with that brand as of late

[juniorjohnson]

Young Brando covered this story last week & interviewed Perezcoope.

[WestCoastAce]

Thanks for the video. Read a Fortune story. 3 ex employees. Greed is amazing. Interesting how the bidding war exploded. $87k to $3M is just crazy. So did Omega know this was fake and bid that high to avoid the embarrassment?

[masterwatch]

must admit when a brand buys their own watch it does seem a little contrived... and then you find some other auctioned pieces on sale the day after they were sold via auction.