How Much do Omega Watches cost? Here’s the Answer!
As you can understand, the question about what Omega watches cost is very broad. The fact of the matter is that Omega makes watches that are priced all across the board. But in this article, we will discuss how much an Omega watch costs, and how it varies across models.
Secondhand vs recommended retail price
First, we need to identify that there is retail price and secondhand price.
Like most companies that have retailers, Omega has a recommended retail price that Omega recommends its retailers follow. This is also known as MSRP or RRP.
Manufacturers have recommended retail prices because it creates consistency in the pricing among official retailers around the world. If retailers freely can set the prices, there is a risk of unnecessary competition, which ultimately damages the product’s reputation.
Now, the prices are only recommended retail prices, which means that the retailers can choose to give discounts if they want.
On the other hand, the secondhand market is not dictated by Omega’s secondhand prices. Instead, the secondhand market for Omega watches is just like any other market for pre-owned goods. The market decides the price.
For example, let’s say a person buys an Omega watch from an official Omega retailer. These retailers don’t necessarily have to factor in the price on the secondhand market as they sell brand new watches with all the safety and service that comes with it, including you becoming the first owner.
And a lot of people would prefer to buy their watch from an official retailer just because they become the first owner -similar to when buying a car.
If you ask the question ”how much do Omega watches cost?”, and simply want to know the retail price, it is very straightforward. Visit Omegawatches.com and you will see the prices listed. In many cases, if you are a good negotiator, you can get some type of discount. However, most people won’t be able to get the type of discount that buying on the secondhand market will give them.
Supply and demand
The prices of Omega watches on the secondhand market depend on supply and demand. This means that, if there is a very low demand for a particular Omega watch, the price can actually be lower than the price an official Omega retailer buys it for. On the contrary, if an Omega watch has high demand but little supply, the price can actually be higher on the secondhand market than the actual retail price.
So, how much do Omega watches cost?
The answer is that it depends if you buy it at an official retailer or secondhand, and of course, more importantly, which watch you buy.
How much do Omega watches cost?
With the above mentioned in mind, the price span is very big.
Today, you can buy an Omega watch for as low as 100 EUR, but it will be an old vintage dress watch of which exists plenty, and the demand isn’t as high as for other pieces. And for 100 EUR, the condition will not be the best either.
At the same time, you can buy an Omega Tourbillon in gold for more than 100K Euros. However, what’s interesting is that on the secondhand market, watches like these will lose more than 40 percent of their retail value.
However, the price span that most people associate with Omega is around 2000 to 10000 Euros (With the exception of full gold pieces and other variants, of course). Because it is in this price range that you can find most of Omega’s most popular models such as the Speedmaster, Seamaster, and Aquaterra. And this price range includes both new from an official retailer and on the secondhand market.
For example, a Seamaster in steel costs about 4500 EUR retail price, and on the secondhand market, you can buy it for about 3800 EUR.
Why Are Omega Watches So Expensive? Do They Make an Affordable Watch?
Many people are curious about whether Omega makes affordable watches. Now, Omega is trying to position itself as a luxury watch brand today, and ”cheap” and luxury don’t really go together that well. On the secondhand market, however, you can, as already demonstrated, get much bang for your buck. The fact that you can get an Omega for just a few hundred Euros when the other watches today cost at least a thousand Euros, is quite impressive.
But looking at the new watches in production, it always depends on who you ask, but according to most people, an Omega is not a cheap object.
Why are Omega watches so expensive?
Omega watches are expensive because they are luxury objects. Now, luxury watches are not just items with a huge markup, but they are usually also objects which are manufactured with great quality, great attention to detail, and long-lasting reliability.
Take, for example, a cheap 50-euro watch or similar. You don’t expect them to last more than a few years, and then when it breaks, you just throw them away.
Omega watches and other luxury watches for that matter will last for generations if you take care of them. They are more than just a means of telling time. They are an emotional connection that brings you joy every time you put them on.
But that’s not all. Omega is a Swiss watch manufacturer that has the reputation of making some of the finest watches in the world, having perfected their craft for more than a century.
Each detail is carefully finished, and a large percentage of the watch is made by hand, not to mention the movement which is assembled by hand by Omega’s skilled watchmakers. This takes both time and resources, and naturally, the price will increase. Omega is not like any other mass-produced watch which is assembled in minutes or even seconds. Instead, the process of manufacturing an Omega is both lengthy and complicated. And this is the difference between all products really. Yes, the brand plays a role, but a Volkswagen and a Rolls Royce are not manufactured to the same standard, and as a result, they will have different price points.
When you buy an Omega watch, you pay for the intricate engineering and design that goes into the manufacture of these complicated mechanisms. Furthermore, you are also paying for the security of a five-year warranty as well as a premium for a product from a watchmaker with a long and respected horological history.
Omega watches are made in Switzerland
Switzerland is the country of Haute horology and watchmaking. Just like French wine, swiss chocolate, and many other goods, ”made in Switzerland” is a stamp on watches that actually have great importance in watchmaking. All Omega watches are made in Switzerland, because of the tradition, and importance Switzerland has in watchmaking.
The labor costs are, of course, higher in Switzerland due to the country’s high standard of living, and as a result, and despite the fact that moving the manufacturing to somewhere else, Omega chooses to keep its manufacturing in Switzerland to honor the country’s long history of fine watchmaking. This naturally also affects the price.
Exclusivity and brand
Of course, with all luxury brands, a part of the price for the product is the brand.
In comparison to mass-produced brands, Omega watches are relatively limited, which both have to do with the time and resources it takes to manufacture an Omega, but also to increase exclusivity. A mass-produced item never achieves the same type of exclusivity as a luxury item. This is particularly true for Omega’s limited-edition timepieces which they release every now and then, with production numbers being very low in comparison to other non-limited models. As a result, the cost of each piece automatically shoots up.
The most expensive Omega watch to date when looking at the retail price is the Constellation Baguette which features 30-carats, 459 Wesselton diamonds, 146 baguette, and trapeze diamonds on the dial and the case is made of 18-carat white gold. This watch has a retail price of around $700,000.
Advertising
All luxury brands spend a huge amount of money on advertising. Advertising is a crucial part of luxury brands to maintain the exclusivity and luxury of the products, and the cost of this naturally lands on the end consumer in the form of more expensive products. Omega spends millions of euros every year on all kinds of different advertising including celebrity endorsements, campaigns, banners, and events. The huge cost of advertising contributes to making the watch and brand well known and sought after, but as a result of the rather limited production, it also makes the products more expensive.
Does Omega make affordable watches?
Whether something is affordable or not can only really be answered by the person who buys the item.
Some people consider a hundred thousand euros Patek Philippe affordable as they see the great value of the product, whilst other people consider it absurd to buy a watch for more than a hundred Euros. There really is no fixed answer to this, but when you factor in the great amount of work and research that goes into making an Omega watch, some people would absolutely classify an Omega as affordable.
The answer really comes down to whether you see the value of the item or not. Those who recognize all the things that go into making an Omega watch will absolutely consider it as affordable – especially when comparing them to more expensive counterparts, which may not necessarily offer a higher finish or build quality.
But in terms of price, you can find many Omega watches on the secondhand market for under 1000 Euros, and in the niche of luxury watches, this has to be classified as affordable – especially when it is made by a well-respected company like Omega. Many of these watches
Conclusion
The answer to how much an Omega watch costs is very broad because Omega makes a large number of different models. Then, you also need to factor in whether you are going to buy from an official Omega retailer and pay retail price, or buy secondhand and pay the price that the market has decided. Comparing a brand new Omega from an official retailer and a brand new Omega on the secondhand market, the price is generally between 20-35% lower. For some models, it’s more, for others, it’s less. All depend on the principle of supply and demand.
If you buy used, older watches, you can get an even better price.
