The Speedmaster Reduced (ref. 3510.50) is the 'small Speedy' — 39mm, automatic, produced 1988–2009 — that gave a generation of collectors their first Omega chronograph. It's been undervalued for years and has finally started to firm; for a buyer who wants the Speedmaster silhouette in a wearable size and at an honest price, it remains one of the best value plays in the catalog.

What it is

Launched 1988 as a smaller, automatic counterpart to the hand-wind Moonwatch. Caliber 3220 is an ETA 2892-A2 base paired with a Dubois Dépraz 2020 chronograph module. Hesalite crystal in early examples, sapphire from ~2000.

Steel cases throughout; a two-tone variant (3310.51) and a gold-capped (3322.50) variant existed but in much smaller numbers. Production ended 2009 when the Reduced was discontinued.

Buying notes

Common things to check: crystal (hesalite vs sapphire — both are correct depending on production year, but hesalite examples have a softer hand-feel and look closer to the manual-wind Moonwatch); dial (some examples have a yellowed tritium dial that has aged unevenly; honest patina is fine, mismatched patina between hands and dial is a flag); the Dubois Dépraz chronograph module is the failure point on this caliber — verify all three sub-dials reset cleanly and the chronograph engages without hesitation; bracelet (the original 1506/810 bracelet is rare to find; a replacement aftermarket bracelet is acceptable but should be priced accordingly).

Market read

Speedmaster Reduced examples have been undervalued for years (the 'real Speedmaster is the hand-wind' bias). 2024-2026 has seen a slow firming as 39mm cases come back into favor and the supply of clean examples thins. Full-set with original bracelet examples have outperformed watch-only by a wider margin than the absolute prices would suggest. Honest service-needed examples can still be had below $1,500; full-set, recently-serviced examples are trading in the $2,000-2,800 range.

Service expectations

The ETA 2892-A2 base and the Dubois Dépraz 2020 chronograph module are well-understood by Omega service centers and by competent independents. The chronograph module is where issues typically present (sticky pushers, misaligned reset, intermittent engagement); a full service including module overhaul is a meaningful expense relative to the watch's value — factor it into the buy decision. A recently-serviced Reduced with paperwork from a known watchmaker is worth real money on top.