Omega - The New York Watch Auction: SEVEN New York Saturday, December 10, 2022 | Phillips
  • Manufacturer: Omega
    Year: 1960
    Reference No: 2998-1
    Movement No: 17’302’887
    Model Name: Speedmaster
    Material: Stainless steel
    Calibre: Manual, cal. 321, 17 jewels, stamped OXG
    Bracelet/Strap: Leather
    Dimensions: 39mm Diameter
    Signed: Case, dial, and movement signed
    Accessories: Accompanied by Omega Extract from the Archives confirming production of the present watch on March 23, 1960 and its delivery to the United States.

  • Catalogue Essay

    Omega’s original Speedmaster, the reference 2915, was the brand’s first tool watch to feature a tachymeter scale on the bezel opposed to the dial, which had been the norm for chronograph wristwatches throughout the 1930s, 40s, and 50s. This innovative design would be a game changer and within a few years, it was employed by many brands. First released in 1957, the reference 2915 featured the foundations for all future Speedmaster timepieces, and it is from this lineage the reference 2998 was born. Released in 1959, early examples like the present watch used the famed Lemania caliber 321, revered amongst watch enthusiasts for its robustness, accuracy, and durability. The manual wound caliber was used by Omega from 1946-1968 and offered optimal performance and reliability.

    The reference 2998 was only in production for three short years with production ending in 1962. In that timeframe, small modifications to the design (different hands, bezels, or dials) were introduced, with each new iteration designated by the number after the hyphen in the reference number inscribed in the case back. The present watch, a highly desirable reference 2998-1, was the very first iteration of this reference. Eight case variations were made over the three years, (-1, -2, -3, -4, -5, -6, -61, -62), indicating how intensively Omega was honing the design of the Speedmaster – they clearly viewed the reference as integral to their success as a brand. The -1 variation is found with serial numbers between 17’301’xxx and 17-761’xxx with the present chronograph bearing movement no. 17’302’887 along with OXG import code for the American market.

    The present example is fresh-to-the-market and in remarkable condition, with a crisp case and sharp “hippocampus” caseback engraving. Its dial and hands are all original superb, beautifully aged and well preserved with its luminous hour markers having aged to an attractive warm chestnut hue. Omega’s Speedmaster is an icon in horology, and this early reference 2998-1 is a wonderful representation of these mid-20th century tool watches.

  • Artist Biography


    Swiss • 1848

    Omega's rich history begins with its founder, Louis Brandt, who established the firm in 1848 in La Chaux de Fonds. In 1903, the company changed its name to Omega, becoming the only watch brand in history to have been named after one its own movements. A full-fledged manufacturer of highly accurate, affordable and reliable watches, its sterling reputation enabled them to be chosen as the first watch company to time the Olympic Games beginning in 1932. Its continued focus on precision and reliability ultimately led their Speedmaster chronograph wristwatch to be chosen by NASA in 1965 — the first watch worn on the moon.

    Key models sought-after by collectors include their first, oversized water-resistant chronograph — the reference 2077, early Speedmaster models such as the CK 2915 and 2998, military-issued versions of the Seamaster and oversized chronometer models such as those fitted with their prestigious caliber 30T2Rg.

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Ref. 2998-1
An early, rare, and well-preserved stainless steel chronograph wristwatch with straight lugs

39mm Diameter
Case, dial, and movement signed

$20,000 - 40,000 

Sold for $34,020

Contact Specialist

Paul Boutros

Head of Watches, Americas

+1 (212) 940-1293


Isabella Proia

Head of Sale, New York

+1 (212) 940 1285


The New York Watch Auction: SEVEN

New York Auction 10 - 11 December 2022