Market Watch: Omega Planet Ocean
Although the Planet Ocean collection was introduced at 2005’s Baselworld, the origins of Omega’s chunky diver can be traced back almost fifty years prior. Shortly after Rolex revealed its sporty Submariner in 1953, Omega realised that its dressy Seamaster line would need a bit of a makeover, and the chunky Seamaster 300 was the result. The dressy designs became the De Ville line, and that was that, history in the making.
The Seamaster, of course, has continued to serve Omega well into modern times, finding its way onto Pierce Brosnan’s wrist for 1995’s GoldenEye and securing the brand’s future rather comfortably. But the design, as you would expect, had moved on in those passing decades, and Omega sought to right that wrong and revitalise the original 300 shape in the Planet Ocean.
Details like the case shape (which is reminiscent of the Speedmaster, another ’57 release), the bezel, dial and hands design and the bracelet style were carried over from the 1957 300 to the 2005 Planet Ocean, upsized for a modern audience. The watch was a roaring success, its vintage-inspired yet sporty and modern proportions making it an instant classic.
Thanks to its universal appeal, the Planet Ocean is a pretty safe bet when it comes to depreciation. Sure, it’s not depreciation-proof in the same way a steel sports Rolex is, but it’s not far off. Buying brand new yields a 25% loss, a very reasonable amount that will remain stable as prices creep up. Buying pre-owned, around three years old, is the most economical approach, away from the worst of the depreciation. It’s not an investment to throw all your spare income into, but its a luxury you don’t normally get with a premium product such as this.
###Ownership Information Launched: 2005 Manufacturer warranty: 2 years Service intervals: 4–5 years Servicing cost: from £310 Replacement strap: from £165 for leather, £300 for steel
Advancing prices further is the recent launch of the ceramic-bezelled facelift. Visually very similar to the outgoing models, the newer Planet Oceans add a cool thousand to the RRP on average, with the fortunate side affect of pulling prices of the discontinued watches on the pre-owned market up with it.
The good news continues with the ownership costs of the Planet Ocean: with four to five year service intervals and servicing starting at a very reasonable £310, owning a Planet Ocean is considerably cheaper than the equivalent Rolex, despite being almost identical on paper (and on some points leaning in the Planet Ocean’s favour). Even a new strap won’t make you wince, genuine Omega leather starting at £165 and steel at £300. Considering some manufactures see fit to charge over £300 for just a leather strap, that’s very good going from Omega.
The usual quandary for a potential Planet Ocean owner is the prospect of owning a Rolex Sea-Dweller instead. Stack them side by side and it’s hard to pick, but the Omega does have a lot going for it that the Rolex doesn’t. The Co-Axial movements are real gems, the running costs are much lower, as is the cost of entry. Given that a new Sea-Dweller 4000 retails at £7,150 and the Omega Planet Ocean looks like the bargain of the century.
You Could Also Consider
The re-edition of the 1957 watch the Planet Ocean’s design is based on, complete with ‘aged’ luminous paint
Probably the most well-known commercial diving watch, the Sea-Dweller was made for purpose
The well-engineered IWC Aquatimer may have been later to the game, but it’s just as good as the others
Market Watch
It may not be quite as popular as the cheaper Seamaster Professional 300M, but the Planet Ocean is still an eye-catcher. Furnished with a Co-Axial movement, it’s a segment-leading watch, and a safe place to put your money. Jump in at around the three-year-old mark and depreciation shouldn’t be a bother, minimal at worst. You’ll save money further still by snapping up a late example of the previous generation Planet Ocean, the one with the aluminium bezel. There are two sizes, either is fine; they don’t suffer favouritism like the larger Panerais do over the smaller.
