Over the past three years values for pie pan Omega Constellations and other notable Omega vintage watches have increased by up to fifty percent, particularly 18k gold models. On the supply side of the equation, there is a sizeable world inventory of Constellations from the nineteen sixties, particularly in the middle to bottom ends in terms of condition, however the availability of top quality examples that meet factory specifications fully is not so fluid and big premiums are being paid for sharp examples with original case finish and dials.
Where is the demand coming from? Certainly not the U.S. and Europe where demand for new luxury watches has fallen. The clamour for both new and vintage Omegas is coming from the emergent Asian economies, particularly China.
As brand awareness and support for new Omega product increases, it follows that a knock-on effect will be felt in the vintage market, and nowhere has Omega brand awareness increased more than it has in China. In a survey published in December, the Digital Luxury group revealed that two models in the Omega stable, the Constellation and the De Ville, had achieved a whopping thirty-three percent market visibility in the luxury sector. (See pie chart below).
With that kind of market penetration it is little wonder that good quality Omega vintage stock has risen significantly in value across the board. As the Chinese middle class grows and becomes more sophisticated in its use of discretionary income, we can expect a similar love affair with both new and vintage timepieces as that seen in sophisticated economies such as Taiwan and Japan. So, if a top condition pie pan Constellation or other iconic vintage Omega watch is your grail, don’t wait too long!