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Old 2 February 2020, 09:30 AM   #1
Bosscheto
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New Omega 321 Movement

I had an interesting experience in the last couple of days with the new Omega 321.

I live in Lausanne, and we have two Omega dealers. I went to Tourbillon which is owned by the Swatch group, and asked them about the watch. They could not tell me anything (their staff is inexperienced, mainly linguistic experts focused on tourists). But they really insisted on taking my coordinates since I am local.

The very next day a lady called me from the Tourbillon to ask me to put me on a waiting list. I was quite surprised, it felt weird. She said the watches will start coming later that year and they offer me the chance to be on a real list. Weird right, because she was the initiative, usually I have to ask to be put on a waiting list.

Today I was in Geneva, and went to the Omega flagship boutique. All I want is to see the watch, the staff was trained better. The lady explained to me, that only 4 watchmakers can make the watches, one takes a week, so I calculated roughly 200 watches a year. If the story is not just marketing, but again not a limited edition, difficult to make. Then she asked me about a waiting list, I told her I am from Lausanne, not local (50km difference but two different Cantons), and I told her I am already on a list in Tourbillion. She was like, “you should be on a list here as well, if we get a watch, we will call you, you are practically local”. I refused.

Why am I telling you all this boring details. I think Omega is trying to create a hype, and want a non-limited edition watch to have a massive waiting list and increased value on the secondary market. I think they will produce in small numbers, make it hot, and this way will raise the value of the ordinary Speedies. This way the average Joe would prefer to go and buy the available cheaper watch that looks like the expensive one bar the bracelet. Because I think for Omega is a big problem that ordinary ppl go and buy the Moonwatch from Gray dealers instead of the boutiques.
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Old 2 February 2020, 10:10 AM   #2
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After talking with an Omega person in Toronto last week and putting my name in for a World Timer, I agree with what you are saying. I get the same vibe.
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Old 2 February 2020, 02:47 PM   #3
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List or no list we can actually get the watch. Rolex AD's can continue to play there special games. Omega is hungry for the business, I like that, let them try whatever tactics they want.

The 321 is a beauty in pictures and most likely even better in real life. I am waiting for the Sydney AD to call me some day soon.

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Old 2 February 2020, 04:51 PM   #4
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Interesting, I sure hope Omega doesn't start playing games like Rolex and Patek have done.
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Old 2 February 2020, 09:48 PM   #5
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Thank you for sharing this.

I wonder if Omega feels concerned that watches will be produced and delivered to retailers, and then sit, unsold, in display cases there because... wait for it... they want $13 grand for it!!!

They made this decision about the price, and now they're already second-guessing it.
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Old 2 February 2020, 10:43 PM   #6
Bosscheto
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I think Omega will keep a very small production. Even if they loose money on this watch by not scaling the initial investment in R&D, Marketing and higher production cost, Omega is still a massive company. It is the second biggest brand in the world (if I am correct) with over 2.5 billion in revenues per year, second only to Rolex. So my speculation is, that this watch is just to increase the brand value and increase the sales of Moonwatches.

I am curious, and will follow it through. I still kill myself for missing the Snoopy.
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Old 2 February 2020, 10:45 PM   #7
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The 321 is a cool watch and I think it will have a limited market. Serious collectors and speculators will buy most of the watches. Initially there will be hype and shortages but in the end it will be another Speedmaster with a historical movement that only a few will buy.
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Old 2 February 2020, 11:49 PM   #8
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The reality is here folks, given the amount of effort that went into resurrecting the movement it seems like people here think Omega should just abandon all their other movements and just work on the 321. Having more care going into the 321 even if that means fewer are made is fine by me. And let’s not get on our high horse here, Rolex can make more watches and do more to limit the grays chocking off the supply and they don’t.
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Old 3 February 2020, 12:00 AM   #9
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Quote:
Originally Posted by 1William View Post
The 321 is a cool watch and I think it will have a limited market. Serious collectors and speculators will buy most of the watches. Initially there will be hype and shortages but in the end it will be another Speedmaster with a historical movement that only a few will buy.
I imagine it will play out exactly like this.
Either way, I put my name on their list, but I don’t know if I’ll pull the trigger if they offer it to me.
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Old 3 February 2020, 12:36 AM   #10
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Bottom line, true OMEGA enthusiasts are able to get the timepiece they desire... with not too long a wait. The 50th Anniversary SS Buzz is a good example imho.
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Old 3 February 2020, 12:39 AM   #11
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Originally Posted by Art 1 View Post
After talking with an Omega person in Toronto last week and putting my name in for a World Timer, I agree with what you are saying. I get the same vibe.
That dealer wouldn’t happen to be across the way from a Rolex dealer would it?
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Old 3 February 2020, 12:48 AM   #12
Art 1
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That dealer wouldn’t happen to be across the way from a Rolex dealer would it?


And that poor Rolex dealer has next to nothing to sell. The Omega dealer is really moving some watches out the door. I saw 3 sold and one order put in while I was there. Plus my order, if I end up getting it. They even have some doubts of how many they will get in.
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Old 17 February 2020, 10:18 PM   #13
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I've paid a deposit for one. I cannot way to see it in the metal. I don't know if I can get myself to wear it though, might be a display piece for me in my man cave.
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Old 17 February 2020, 10:37 PM   #14
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Originally Posted by Bosscheto View Post
The lady explained to me, that only 4 watchmakers can make the watches, one takes a week, so I calculated roughly 200 watches a year.
I have a hard time with this since Swatch has the capability of mass-producing 321 parts with ease. There isn't a component in the 321 that's any more complex than anything else in their existing caliber lineup, especially considering the Automatic Coaxial movements with METAS ratings. The 321 isn't that complicated. It has a lot of parts but none needing 'fitted' given today's manufacturing capabilities.

One watchmaker should be able to assemble, oil, regulate and verify timing on 1-3 watches per day, not per week. If there are four watchmakers dedicated to the 321 (which does sound plausible) and they each work 40 weeks annually at 1-3 watches per day, the output numbers should be 800~2400.

I'd be more inclined to think 2000 watches annually would be realistic. 200 sounds made up for hype.
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Old 18 February 2020, 12:52 AM   #15
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I have a hard time with this since Swatch has the capability of mass-producing 321 parts with ease. There isn't a component in the 321 that's any more complex than anything else in their existing caliber lineup, especially considering the Automatic Coaxial movements with METAS ratings. The 321 isn't that complicated. It has a lot of parts but none needing 'fitted' given today's manufacturing capabilities.

One watchmaker should be able to assemble, oil, regulate and verify timing on 1-3 watches per day, not per week. If there are four watchmakers dedicated to the 321 (which does sound plausible) and they each work 40 weeks annually at 1-3 watches per day, the output numbers should be 800~2400.

I'd be more inclined to think 2000 watches annually would be realistic. 200 sounds made up for hype.
I think the 2k 321 movements forecast would be correct, which mirrors the reported numbers of how many movements they plan to make from the Hodinkee article. However, that also assumes all 321 movements go into the new Speedmaster, but we know that's not the plan since some will go into the Platinum one, some will go into the other LE, etc.

Lastly, I find it more interesting that the 'brand trust' is so low with Omega to control production numbers to ensure the piece remains sought after.
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Old 29 March 2020, 04:00 AM   #16
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Any update on when the SS 321 might be available yet?
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Old 13 April 2020, 06:37 AM   #17
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I've just been told by Goldsmiths online that the SS 321 Ed White has been released, but there is an 18 month waiting time for it as the movement is only made by one person. Apparently it its about Ł14,000 in the UK.

Does anyone else have any info on it?

Nice watch, but I can't see a queue forming for this at that price.
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Old 13 April 2020, 06:52 AM   #18
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Who knows what the truth is.

Agree as stated above, omega can make the parts as fast as the like, the number they choose to assemble and sell is another story.

However, the same can be said for the Daytona. Once rolex created the in house chrono movemnt the shortage of Daytona is 100% manufactured. The prior zenith movement used in the Daytona actually had a limited production as a result of the availability from zenith and the time consuming customization of each movement at rolex.

All things considered, I believe omega has personally given me exactly what I was hoping for in the new SS 321... I’m sure they will follow with a plexi version which for many will be the cherry on top.
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Old 13 April 2020, 08:12 AM   #19
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I put down a deposit on the 321 the week it was announced. Spoke with my AD the other day and this is what they know about delivery:

NOTHIING! NADDA....Not a clue!
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Old 13 April 2020, 08:15 AM   #20
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Omega and all Swatch Group portfolio companies are shut down right now.

Nothing's shipping from them out of Switzerland.
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Old 13 April 2020, 08:16 AM   #21
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...there is an 18 month waiting time for it as the movement is only made by one person.
False.
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Old 13 April 2020, 08:17 AM   #22
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I'm thinking of selling a few watches and buying one of these. I could see this being a one-and-only (or close to it) for me.
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Old 13 April 2020, 08:57 AM   #23
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False.
Not false. Not a complete statement.

According to omega Each movement will be assembled by a single watchmaker.
There will be a number of watchmaker assembling the movements.

Is this true as stated by omega? How can we know?
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Old 13 April 2020, 11:43 AM   #24
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See, I would probably buy this from Omega because at the least it is a *different* movement.

Churning out a new (actually old) movement is a lot harder than, say, releasing a two-tone version of the same watch.

Rolex, on the other hand, is pure mind games on their "limited production". For example, the only differentiation of the BLRO from their other GMT models is the ceramic bezel. Same movement, same case and same bracelet. It's all about spinning a fascinating tale.
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Old 18 April 2020, 05:09 AM   #25
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Interesting, I sure hope Omega doesn't start playing games like Rolex and Patek have done.
This is exactly why Omega is doing. They want to play in the Rolex Daytona game so they came up with this scheme to gouge customers' money. They could crank out these 321 as easily as any of their mass produced watches. But they're going to play the choke the supply game like the Daytonas so that they can charge people 4 times what they should be charging.

The real problem is this pandemic. The world has changed. Will there be enough customers that are willing to pay $14k for a Speedy? Why won't they just go buy a Daytona which will hold its value a lot better?
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Old 21 April 2020, 10:05 AM   #26
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This is exactly why Omega is doing. They want to play in the Rolex Daytona game so they came up with this scheme to gouge customers' money. They could crank out these 321 as easily as any of their mass produced watches. But they're going to play the choke the supply game like the Daytonas so that they can charge people 4 times what they should be charging.

The real problem is this pandemic. The world has changed. Will there be enough customers that are willing to pay $14k for a Speedy? Why won't they just go buy a Daytona which will hold its value a lot better?
Agreed, when I just asked about the 321 for a friendly chat the boutique acted like its the most important watch ever made and started the spiel about being lucky to get on the list, only for VIPs, signing up for it, all sold out, very rare, etc etc. I smiled and started laughing while she was talking and then walked out. I did get her card though (she was hot).
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Old 21 April 2020, 11:24 AM   #27
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has anyone signed up to purchase the watch through omega’s online store and have they heard anything? I got a cryptic email many months ago asking where i would like the watch delivered but nothing after. not sure if everyone got that email
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