Mid 1940s Rolex Oyster Perpetual Chronometer (Bubbleback)

[Brent P]

My 85 year old Dad pulled this watch out of a drawer the other day and offered to give it to me. It was purchased originally by my grandfather, who died shortly after he purchased it. My grandfather gave it to my father at death only a few years after the watch is was purchased and inscribed with my grandfather’s name on it in 1947.

My Dad was a kid when he received it and he hardly wore it since then. So long as I can remember, Dad has worn an electric Seiko and today, an Apple watch. In any event, for an 80 year old watch it seems to be in fantastic shape. It’s only real value to our family is say about $500 in sentimental value in addition to what we could sell it for. I told my father to keep it in case he ever needed to sell it as he’s 85 himself now and still ticking.

Anyways, helping him with that, I researched the price history. I can see that the model was hot around year 2000 when it appears the selling price was around $20K. That’s not the case now and now they’re selling for about $3-$5K. I could see that trend reversing sometime in the future as this is a not unmeaningful piece in the Rolex timeline (perpetual being then Rolex’s first (?) instance of the self winding mechanism, giving the “Bubbleback” its unnofficial name). Also, it is a chronometer, and of course an oyster. So if it’s only real value is monetary, then ”hold” seems to me to be the order of the day.

The watch is no longer running because — almost 100% certainly — it’s simply gummed up from nonuse and nonwinding for most of its life. My father cannot remember it ever not working until he pulled it out of a drawer recently. He took it down to a local authorized watch repair shop got it running temporarily, but it needs cleaning and re-oiling for sure. Talking with my father and some local jewelers, the Dallas Rolex Service center, and a few AWC1 vintage Rolex repair people, it looks like it will cost a bare minimum of $650 or so to service, maybe triple that, and I had a wonderful over the phone estimate from Dallas of $12K+ for a complete rebuild (that plus 1-3 years waiting) that we absolutely not take on.

Anyways, if it was possible to get it running as I said it would have about $500 or so in sentimental value to my Dad and I’d probably pay that for him, but we don’t want to invest more than that to sell it unless investing more in it was clearly cost efficient. For now, I’m thinking our best course of action economically is to put it back in the drawer and if my Dad ever needs the money see what the market or used parts market looks like then.

Anyways, I’ve never owned a vintage watch anything like this, and I am posting this because I have hit the end of my patience level trying to figure out what to do with this watch. I thought I’d post this here to see if anyone has any thoughts or advice. Is it right to stick it in the drawer and just keep it until needed to be sold?

I will post a picture once I can resize it so you can see the excellent shape.

[Brent P]

Picture attached. Not the best focus but hopefully good enough so you can see the shape it’s in.

[adam78]

Fantastic example. PM sent.

[Dr.Smellody]

Looks brand new. Amazing!

[R.W.T.]

Wow that’s an incredible example. 99% The service center won’t even open it.
I can go through it for you. In Austin area.

RolexWatchTime@protonmail.com

[Brent P]

Thanks for all the compliments. It is in exceptional shape given its age.

Ultimately I imagine my father and family will keep this watch as long as possible for sentimental reasons, but it won’t be worn.

At some point, someone in our family (my father, mother in law, others) may want to sell it.

1. Is there a market for non working but likely great pieces such as these?

2. Should (as I imagine) we should it fix up first to realize maximum sales value?

3. Is there any reason to service it now if it’s not going to be used but just kept in a safe?

[Dr.Smellody]

Originally Posted by Brent P

Thanks for all the compliments. It is in exceptional shape given its age.

Ultimately I imagine my father and family will keep this watch as long as possible for sentimental reasons, but it won’t be worn.

At some point, someone in our family (my father, mother in law, others) may want to sell it.

1. Is there a market for non working but likely great pieces such as these?

2. Should (as I imagine) we should it fix up first to realize maximum sales value?

3. Is there any reason to service it now if it’s not going to be used but just kept in a safe?

There's a limited market. I'd love ro have it. It is exceptional. If this was the early 90's. . .

[offrdmania]

The problem is that the Bubbleback collectors are getting way up in age, the market for them has greatly declined due to their small size. In the late 80s and into the 90s they were all the rage but fashion and fads change and for todays younger watch buyer, it is just way too small.

[Dan S]

In general, there's not much benefit to servicing the watch just to put it in a safe. In fact, collectors generally like to purchase watches that haven't been tampered with, so you might want to think twice about "fixing it up" to maximize the sales value. Too often we've seen people spend a lot of money to have watches restored, and actually reduce the value of the watch. If you do anything, it should be very minimal, just to get it running.

[epc2]

That's an incredible piece of history you've got there! Given its sentimental value and historical significance, holding onto it sounds like a wise choice, especially since vintage watch markets can be unpredictable. Getting it serviced locally for a reasonable price, around the $650 mark, might be worth it if you and your dad would enjoy having it running again. Otherwise, preserving it as is could be a good option.