Omega Speedmaster ref 2915-1 sold for a record-breaking price of 3.115 million Swiss Francs at a Phillips auction in Geneva.
The watch turned out to be fake, revealing a major case of fraud and deception in the watch industry.
Omega's Museum director was involved in the fraud and encouraged Omega to buy the watch for over three million dollars.
๐ The Omega scandal broke worldwide news and Omega bought the watch.
๐ฐ๏ธ Understanding the difference between proper watch restoration and fraud.
๐ Expert opinions and the challenges of authenticating watches.
โ๏ธ There was a scandal involving a modified watch with a perfect scratch on the dial.
๐ Experts noticed that the loom on the watch did not deteriorate correctly, indicating tampering.
๐ฐ The modified watch was sold at a high price, not due to marketing, but because it was acquired by a museum.
๐ A rare and valuable watch with a clean dial was sold for millions of dollars, raising suspicions.
๐ง The watch was found to have a modified dial and bezel, indicating fraud and involvement of multiple individuals.
โ ๏ธ Omega conducted an investigation and discovered that three former employees were responsible for the fraud.
๐ฐ๏ธ The scandal involves internal fraud within the Omega brand.
๐ผ The trustworthiness of the people involved in creating and selling the watches is questioned.
๐ฐ Auction houses like Phillips are accused of auctioning fake or modified watches.
๐ฐ The instant part is about the significant amount of money involved in the watch market and the consequences of missing crucial details.
๐ Fraud exists in the auction industry, including the watch market, and mistakes can have a severe impact on brands and their reputation.
โ Buyers bear the responsibility of ensuring the authenticity of watches when purchasing from auction houses.
๐ฐ The Omega scandal involves fraud committed by the company.
๐ฅ Omega's reputation and brand image may be slowly damaged.
๐ฐ๐ผ The buyers of expensive watches, particularly from the Middle East and China, are often wealthy and unaffected by the scandal.
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