Omega dupes itself into acquiring a Speedmaster they never created for a record $3.3 million at auction.

The company alleges three former employees colluded to profit from the scheme.

It is worthwhile noting that Phillips' high estimate was 25x less than what Omega ultimately bid for the watch back in November of 2021 and that the auctioned Speedmaster was accompanied by an extract from Omega's own archives. When a brand can't even trust itself in assessing the authenticity of its watches on the secondary market—particularly when it comes to big ticket items like this—where does that leave collectors and connoisseurs?