378.0801 ST / 178.0002 ST – SPEEDMASTER 125 CHRONOMETER

CLICK HERE FOR SPEEDMASTER125.COM AND SPEEDMASTER ONLY

General Description –

The Speedmaster 125 is a special watch. It was released for a special occasion (the company’s 125th anniversary in 1973), it has a special movement (cal. 1041, the chronometer certified version of already special cal. 1040) only found in this piece, and it comes in a case and on a bracelet that were both only used on this watch. Perhaps it is the chronometer certification which is most special, as this was the word’s first chronometer certified automatic chronograph. It was described early on as a “commemorative” edition, and later as a “limited” edition. Per most sources, including the extracts of the archives, there were only 2,000 made. No matter how many were made, the 125 was and remains a big deal.

 

Like its several of its cal. 1040 brethren, the Speedmaster 125 is big and bold. They were looking to make an impression with this watch, and they certainly did. Like the Mark IV and the later 176.0012, the case is modular, but on the 125 it gives the impression of being carved from a giant hunk of metal. The finished product looks like a curved square block with vertical brushing on top and on the sides, separated by a mirror-polished bevel. From the top it is reminiscent in appearance of a ship’s chronometer – not sure if that’s what they were going for but I find the parallel fitting.

The “specialness” continues with the dial. The logo, the word “OMEGA”, and the number “125” are all applied in steel. The words “AUTOMATIC CHRONOMETER” are prominently printed at 3:00. Omega priced this watch significantly higher than the standard Moonwatch, so they wanted the watch to look the part as well.

The bracelet is integrated and has to be held in real life to be fully appreciated. It has the look and feel, as well as finishing of something much more modern than the 1171 and 1162 bracelets found on other watches in the family. The watch doesn’t accommodate standard springbars so it pretty much can only be worn on the original bracelet.


Caseback and Maker

For more information on casebacks, case manufacturers, and their maker’s marks, see the Caseback Collector’s Guide.

There are several versions of Speedmaster 125 casebacks that vary by what is on the inside. Certain earlier Speedmaster 125s have an alphanumeric code on the caseback consisting of a letter followed by 3 numbers. Otherwise the caseback design is the same.

Rather than showing front/back photos of all the variants, I’ll run through the different outsides, then the different insides.

Maker: EPSA (no diving bell symbol), later service cases by Louis Lang SS (gravestone-shaped symbol with LL)

Caseback design: High-relief engraved medallion SPEEDMASTER, Hippocampus logo, Omega symbol

Outside Caseback Variants
Inside Caseback Variants
A Strange “SEAMASTER” Speedmaster 125 Caseback

This one looks like a modern, or at least post-1970s, service caseback. It is fairly common for Speedmasters to have casebacks that read “Seamaster”, but the Speedmaster 125 almost always says Speedmaster. That makes this caseback, found on eBay, strange:

It looks like this one was originally stamped 178.0003, which was then crossed out and replaced by 178.0002.


Specs

125


Production Estimates, Dates & Serial Number Range

Well, what can I say? I don’t believe there were only 2,000 produced. My estimates put the production around 19,000, and maybe up to 20,000. It’s nearly as common on the market as the 176.007ST and more common all other cal. 1040s. Remember, there were 82,200 cal. 1040s. Statistically speaking, the 125 should be as frequently seen as something that represents 2.4% of the cal. 1040 universe, not 21% which is what I’ve actually observed. Click here for my original article on Omegaforums.

Cal. 1041 has been observed with a surprisingly broad range of serial numbers, from 1973 through 1976. As you can see, they were mostly bunched into three batches, and a suspiciously large percentage were manufactured long after the 1973 anniversary.

**For more recent Speedmaster 125 serial number data, head over to the interactive serial number chart and filter by reference.16 18 19

1041-eoa


Collectors Should Look For

  • Dial J2 is really the only appropriate dial for a Speedmaster 125. If you see dial J1, snatch it up – it’s really rare and may never have been offered for sale.
  • Like other big chunky Omegas, the case is prone to scratching which means many have been polished over the years. Look for good photos showing the finish of the steel for evidence of polishing or rebrushing.
  • The top side edges of the case should be sharp to the touch, and the polished bevel at the transition from the top to the side should be uniformly wide.
  • Make sure there is a bracelet, with enough links to fit your wrist. There are no strap alternatives out there!
  • The original bracelet is 1221/212, and no longer available. The replacement is 1225/212. While the 1221 is original, I don’t see a premium placed on the original pricewise.
  • I’d insist on movement photos to make sure the movement is cal. 1041 and not 1040. Ironically, I’ve yet to see a 125 with a 1040, but I have seen several 1041s inside other references that should house cal. 1040… UPDATE: April 2018 — When this was originally written in 2016 it is true I had not seen a
    Speedmaster 125 with a 1040, but since then I have seen a few. So the advice stands, insist on clear movement photos that include the bridge as well as the rotor.
  • Lower serial numbers (35 million) often have an alphanumeric code engraved on the caseback – usually a letter followed by 3 digits. Later ones often do not have this code. There was a card that was stamped with this number as part of the paperwork issued on the original 125s. The number doesn’t mean X out of 2,000 however. The theory is the early ones were a limited or numbered edition to commemorate the anniversary, later ones were unnumbered and Omega was just selling a popular watch.

  • The dials age well and typically are not badly damaged. Redials are rare.
    268313-88ccf97ed389bc8968aae7351be6318b
    See the card? The number there corresponds to the number on the back. Photo found on matthewbaininc.com

From My Collection

378.0801/178.0002 ST – Speedmaster 125 Chronometer – Unnumbered

This Speedmaster 125’s case came in remarkable condition , considering just how much steel is there just waiting to get scratched up. It was my first Speedmaster 125 and at the time I bought it I assumed it was unpolished and original, but as it turns out it was lightly polished. This isn’t a difficult reference to source, but many are in poor or restored condition, and it is really hard to tell from photos if it is original.

The dial, as is the case with all Speedmaster 125s I have seen, is J2. The hands are missing some tritium lume, but that just suggests to me they are original. The watch came on its correct integrated 1221 bracelet.

The serial number of this one is 35077XXX and was made in August 1973 and delivered to Spain, making it the earliest manufacture date of any Speedmaster 125 Extract I have seen. There is no alphanumeric code on the back of this Speedmaster 125.


378.0801/178.0002 ST – Speedmaster 125 Chronometer – Numbered

There is value in owning more than one example of a watch. It allows you better understand what the original case SHOULD look like. After acquiring this one, I know now just how sharp the edges should be and how wide the polished facet should be. This one has a lot of scratches on the case, bracelet and clasp. A previous owner wore this often but thankfully never had it polished.

The dial is J2 with lovely patina and the hands match. The watch came on its correct integrated 1221 bracelet.

This one is serial number 35074XXX and though I don’t have an extract it is probably even earlier than my other one. The code on the back of this one is B222.


For more detailed and updated information on the Speedmaster 125, including detailed  specs – verified by the Omega Museum archives – please visit my site speedmaster125.com.

Further Reading: Unanswered questions surrounding the Speedmaster 125, including the mysterious alphanumeric caseback code and the true production totals.