Omega 2024 Predictions
Entering into 2024, there may not be another brand that is on the rise like Omega. Even with a conservative 2023 novelty list, the brand still experienced rapid growth in both sales and popularity. While last year Omega took a deep breath and surveyed the landscape, only releasing a few watches, we fully expect 2024 to be not only strategic but also a year that sets the tone for the brand for many years to come.
This will be Wrist Advisor’s 4th annual forecast of Omega Predictions and what new watches they release this year. Our predictions are not just guesses, they are the culmination of in-depth analysis of Omega’s trends, signals, and the broader economic landscape that influences the luxury watch industry. We analyzed the broad spectrum of where the brand may be headed and have compiled it into 5 of our top Omega 2024 predictions that have the highest likelihood to be accurate.
Before we dive into our Omega 2024 predictions let’s recap what Omega released in 2023. Last year Omega’s big release was their 75th Seamaster anniversary editions, which was a blue version of each collection within the Seamaster lineup. I’ll admit, the Mediterranean blue color on each new watch was really good but none of it was out of this world. It also took Omega until the summer to announce these watches, which is way off schedule for the watch industry. Most brands release their new watches right around the time of Watches and Wonders. Other than the new Seamasters, there were a few cool limited editions but nothing major from the brand. We are hoping that Omega used this time wisely and prepared for an amazing 2024 that will excite collectors.
Many of you may be wondering when will Omega release their new 2024 watches. The answer is they already have for some models but there is speculation that a major announcement is coming at Watches & Wonders 2024. What that is we’ll predict later in this article.
Alright, now it’s time for the 4th edition of Wrist Advisor’s Top 5 Omega 2024 predictions list. We want to make it clear that we are hypothesizing Omega new watch releases but they are based on sound behavioral and economic data. We do not have any insider information and this list is our opinion so let’s have fun with it. Feel free to connect with us to share any of your Omega 2024 predictions.
1. A newly designed Omega Seamaster 300m collection with the Spirate movement
The Omega Seamaster 300m is one of Omega’s more popular collections, often being featured in James Bond movies. Although the Seamaster 300m is universally loved, it also has outdated design features that are also almost universally disliked. What most potential buyers have issues with is the bracelet. It is a design that has been well maintained through the years by the brand but it looks and feels old. The biggest complaint is that the bracelet doesn’t taper down to the clasp. It is for this reason why the majority of buyers elect to go with the rubber strap instead of the metal bracelet.
With all of this being said, we believe that this is the perfect opportunity to give new life to the Omega Seamaster 300m in 2024 and also launch it with Omega’s new Spirate movement. Why is Omega likely do this you may ask, well here are the signals. First of all it has been over a decade since this collection was refreshed so purely time would dictate that we are due. Second, Omega launched 24 new watches at the start of 2024 and none of them were in the 300m dive watch collection. What that signals to us is that they aren’t launching new watches within a collection that are about to get a major overhaul. Third, the in-house Spirate movement launched by Omega was a pretty big deal, yet it was only fitted in one special limited edition Speedmaster. It would make sense to bring the Spirate movement to market with one of their most popular collections that is the most direct comparison to the king of dive watches, the Rolex Submariner.
With a potentially new redesigned bracelet, we expect to see more two tone watches from the 300m collection released now that there is a bracelet that buyers can get behind. It wouldn’t also surprise me to see GMT and new chronograph references available as well but in limited color variations.
Out of all our 2024 Omega predictions, we are the most confident that this will materialize and if it does, there is no doubt in my mind that the Seamaster 300m could dominate the discussion at Watches & Wonders 2024.
2. Omega 2024 price increase
Pricing for consumers and retail sellers has changed a lot over the past few years. Omega has had at least 4 price increases over the last 36 months and they have reduced profit margins at the dealer level. All of this has virtually eliminated discounts on new inventory and strengthened prices on the pre-owned market. From a brand perspective, this is exactly what you would want. These are luxury products and the trajectory of their pricing is moving in the right direction.
Omega is still seen as a value compared to other competitors like Rolex. Comparing the price of each brand’s flagship dive watch, the Seamaster 300m and the Submariner, there is a $4,350 price difference. The same is true for both brand’s stainless steel chronograph models, the Speedmaster Moonwatch and the Daytona, with a $7,100 price difference. With those comparisons in mind, Omega can easily justify another price increase in 2024 due to their value and relative lower cost to purchase.
The last kicker that would suggest that another Omega 2024 price increase is on the way is that Omega now has waitlists for more watches than just their Snoopy. The solid gold green dial Moonwatch is really hard to acquire, the new white dial Speedmaster will be almost impossible to get for awhile, and some of the 75th anniversary Seamasters from last year are still scarce at retail stores. This signals higher demand which is usually followed with higher price tags.
3. More gold and two tone watches
This predictions isn’t so much a prediction but more like spotting a trend. Taking a look back on what Omega has released so far in 2024 and beyond that in 2023, what we see is an influx of new solid gold and two tone watches. Many of these are ladies models but there are also plenty for gentleman as well. For the first time in my memory, I have never seen so many solid gold Omega Speedmaster Professionals and some are even decorated with diamonds.
It is beyond a doubt that Omega is on the rise and it makes sense to climb the ladder into more expensive watches. After all, this is the exact same playbook that their biggest competitor, and company that they are emulating, Rolex has done.
Expect to see many more two tone and gold watches this year designed for both men and women alike in 2024. Let’s just hope that they are sold at the same value compared to how Omega prices their stainless steel watches vs their competitors.
4. More O-MEGA Steel
At the moment, O-MEGA steel is only utilized in the Planet Ocean Ultra Deep collection. At the time when they released this new material, which was right before the Ukraine war, I’m sure Omega had high hopes for expanding it into more watches sooner but rumor is that this steel is only sourced from within Russia. Now that time has passed, we anticipate that enough material has been sourced to allow for regular production.
I just want to say that I really hope this is a reality and it happens with a potentially new Omega Seamaster 300m. I recently got hands on with the Omega Planet Ocean Ultra Deep and I was amazed by the shine and look of the O-MEGA steel. The material is definitely noticeable from the naked eye and commands a wonderful presence on the wrist.
5. Artificial scarcity will be a tactic used by Omega to create demand
It is unfortunate but we believe Omega will create artificial scarcity for their watches in an attempt to elevate demand. Many believe that the brand has already done this with the green Omega Seamaster 300m. When that watch was launched, everyone wanted to get their hands on it. Fast forward 12 months and they were still almost impossible to find yet we kept seeing black, blue, and white variations of the same watch flow through stores. Same thing happened for the 38mm color dialed Aqua Terra. Many within the watch community witnessed this behavior as an attempt to generate massive waitlists like their rival Rolex, who inversely is derived from organic demand.
It is entirely possible that we may see the same tactics used with the newly released white dial Omega Speedmaster Moonwatch or any of the other new 2024 Omega watches. Without direct insider information, it is impossible to know if artificial scarcity tactics are actually in use. What we will say is that we hope Omega attempts to match supply with demand and let their quality and design be the factors that outpace demand from supply.
