The reference 323.10.38 is a 38 mm Omega Speedmaster Date, an automatic chronograph from the 2000s, and it is not the Moonwatch Professional. Fakes of it exist, but they cluster at the cheap end of the market: quartz cases with glued-on pushers, or rough automatic chronographs with the wrong subdial layout. A real one in good used shape usually sells between $1,800 and $3,200 depending on dial color, box, and papers. If a listing offers a clean 323.10.38 for $300, you are looking at a fake, a franken watch built from spare parts, or a stolen watch with a polished serial. There is no fourth option.
What the 323.10.38 Actually Is
The 38 in the reference number is the case diameter in millimeters, and that single detail does more work than anything else when you are judging photos online. This is a steel Speedmaster Date with a tachymeter bezel, a tri-compax dial, and the date window at 3 o'clock. The black dial version carries the full reference 323.10.38.40.01.001, and Omega built the same case with other dial finishes. It wears small by modern standards, sits slim for a chronograph, and rides on a steel bracelet with a mix of brushed and polished surfaces. Collectors treat it as a daily-wear Speedmaster, not an investment piece, which is exactly why the replica trade around it looks the way it does.
How Heavily This Reference Gets Faked
The Moonwatch Professional absorbs most of the counterfeit effort aimed at Omega. The Date line gets less attention, so high-tier clones of the 323.10.38 are rare, and knowing that saves you from overpaying for a replica that claims to be a super clone.
- Budget tier, roughly $60 to $150: quartz movement, painted subdials, hollow end links, case often 39 or 40 mm instead of 38.
- Mid tier, roughly $150 to $300: Asian automatic chronograph, decent case shape, dial printing that looks right in a thumbnail and wrong on the wrist.
- Upper tier, roughly $300 to $500: the rare build with a proper chronograph movement and a closer dial. Still not common for this reference.
Because the genuine watch is affordable, the price gap between a good replica and a used original is small. I would rather put that money into a serviced real one with a scratched crystal than into a clone with crisp photos.
Checks That Separate a Fake from a Real One
- Case diameter. Measure it. Fakes run large, and the lugs look thick and squared off.
- Subdial and date layout. The real dial puts the date at 3 with subdials around it. Fakes often park the date in the wrong spot or hide a non-functional subdial behind printed rings.
- Date font and alignment. Genuine numerals sit centered and crisp. Fakes sit low, high, or slightly rotated.
- Dial printing. Look at the Omega symbol and the word SPEEDMASTER under magnification. Genuine printing has clean edges. Fakes look soft or thick.
- Hands and lume. Uneven lume fill and slightly wrong hand shapes are common tells.
- Crown and pushers. The crown should be signed and the pushers should feel mechanical, with a firm click at the start and end of the chronograph action.
- Bracelet and clasp. Check the end link fit against the case, the clasp stamping, and whether the links use screws or pins where they should not.
- Caseback engraving. Reference and serial numbers should be sharp, correctly spaced, and the serial should match what the movement shows.
- Movement. A quartz tick in the chrono seconds hand ends the conversation. So does a rotor with no Omega markings or sloppy finishing.
What Replicas Get Right
Mid-tier fakes handle the silhouette, the bracelet feel, and the general dial color well enough to pass at arm's length in a dim room. They slip on the details that matter to anyone who has handled the real watch: the slim case profile, the subdial hand alignment, the date font, the crystal clarity, and the bezel engraving depth. Those are the spots to photograph first when you are buying remotely.
Buying Without Getting Burned
- Ask for a photo of the movement and the caseback engraving before any payment.
- Compare the asking price against recent sold listings, not asking prices.
- Have a watchmaker open the case. A verification runs about $50 to $100 and settles the question.
- Do not trust water resistance claims on any replica, and treat them as splash-resistant at best.
- Understand the legal risk in the US. Counterfeit goods are barred from import, shipments get seized and destroyed, and trafficking carries civil and criminal exposure.
Bottom Line
The 323.10.38 is a small, honest chronograph with a modest market value, and that is your best defense. Learn the 38 mm case, learn the date-at-3 layout, insist on movement photos, and most fakes fall apart in under a minute of looking.