Do the Latest Omega Speedmasters Go Too Far?

The latest Speedy is decked out in gold and diamonds. Have we strayed too far from its roots as a purpose-built tool watch?

a diamond encrusted omega speedmaster watch against a black background

By Johnny Brayson

Published April 25, 2024

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The Omega Speedmaster is perhaps the greatest tool watch in history. Created in the 1950s as a timing instrument for auto racing — it was the first watch to put a tachymeter on an external bezel — it later became the stuff of legend after NASA qualified it for manned space missions and it went on to become the first watch worn on the moon and played a critical role in ensuring the safety of the astronauts of the Apollo 13 disaster.

The Speedy’s tool watch bona fides are unassailable, and yet, Omega’s latest Speedmaster expansion has some fans up in arms. The Biel/Bienne brand has launched a series of watches in its Speedmaster 38 line that put more bling on the iconic style than arguably ever before, with diamond-encrusted bezels and dials paired with full 18K gold bracelets. But is it all a bit too much?

Omega Speedmaster 38 Sedna Gold

Specs

Case Size	38mm
Movement	Omega Cal. 3330 automatic chronograph (ETA base)
Water Resistance	100m

$46,400 at Omega

The Most Blinged-Out Speedys Ever?

The Speedmaster 38 line, a smaller, automatic-powered chronograph that Omega officially classifies as unisex but which almost exclusively features women in its marketing campaigns, has had diamonds since its 2017 introduction. But those diamonds were small — so small you’d be forgiven for not noticing them at all — and were restricted to the bezel only.

The new collection of watches, of which there are eight, features far larger diamonds on the bezel. The watches also add diamonds around all three subdials, on either side of the 12 index as a replacement for the Speedy’s signature dots, and even have a large diamond set into the crown. It’s a lot of gems for a watch with its roots in motorsports and space exploration, totaling 1.5 carats per watch.

closeup of diamond covered omega watch — Even the crown on the blinged-out new Speedys contains a diamond.

There are two dial colors available, brown and green, and three materials: stainless steel, 18K Sedna Gold (Omega’s proprietary rose gold alloy) and 18K Moonshine Gold (the brand’s yellow gold alloy). All three materials are available with a full bracelet option, and either gold version on a bracelet will set you back $46,400.

Chronograph Controversy

screenshot of an omega instagram post — Many Omega fans are not fond of the new Speedmaster.

It didn’t take long for negativity to settle in over Omega’s flashy new Speedmasters. Head over to Omega’s Instagram post about the watch and you’ll be flooded with comments bashing the watch or pleading with Omega to go in a different direction:

“Isn’t the Speedmaster meant to be a sports watch? This seems silly.”

“Wouldn’t be caught dead with that thing on my wrist. I miss the old Omega.”

“Omega, what are you up to? Horrible and tacky!”

“Just release a Speedmaster Reduced with an updated clasp and call it a day.”

Clearly, these watches have struck a nerve with a certain segment of the watch market that longs for an Omega that’s 100 percent dedicated to sports and tool watches. But I don’t believe that’s a winning formula for the brand.

Omega Is for More than Enthusiasts

Do I want to own one of these new Speedmasters? No. Do I personally have a problem with them? Also no. While it’s a tendency of watch enthusiasts to believe that watch brands should cater to us and only us, the fact of the matter is that Omega is a massive global brand that needs to appeal to all sorts of people to survive. That includes the sort who covet an iconic design like the Speedmaster drenched in gold and diamonds.

There’s also the elephant in the room that is Rolex. Rolex is Omega’s main rival, and although Omega probably wouldn’t admit this, at least some of the brand’s customers first turned to the brand after running into trouble obtaining the Rolex they want. As such, Omega basically needs to have alternatives to practically everything Rolex makes, and The Crown just so happened to come out with some gold, diamond-emblazoned Daytonas earlier this month at Watches & Wonders. Omega’s release, of course, isn’t a reaction to that — watches take years to develop — but it just shows how the two brands’ strategies are aligned.

So if you’re upset about the new Speedmasters, that’s fine — they’re not for you. Omega is well aware of the tool watch roots of its most iconic product, and the bare-bones Moonwatch isn’t going anywhere… no many how many diamonds they throw onto new variations.

Omega Speedmaster 38 Sedna Gold

Arguably the flashiest Speedmaster ever, this unisex model features 1.5 carats of diamonds on its bezel, dial and crown and boasts a case and bracelet made of 18K Sedna Gold.