- Posts
- 3
- Likes
- 0
brian535
·Please help me evaluate this watch which was presented to my father to mark 25 years service with Iraq Petroleum Company in 1957 as shown in the inscription on the back. It has not been used since he died in 1992 nor has it been serviced since then. I have no knowledge of any servicing while he owned it. As far as I am aware all elements of the watch are original. Certainly, I have done nothing with it since 1992.
Our local jeweller who also deals in, but does not herself service, watches has confirmed that whole case is 18 carat gold, opened it and taken high resolution photographs which I attach. Unfortunately, she did not provide me with a photograph of the inside of the case back with a reference number but I know from the serial number14862221 that it dates from 1955 and can see the Movement is a 501 and it has 19 jewels. the number 232 is visible at the side of the case.
If wound up or shaken it will work in the sense that the second hand starts moving round but it will not keep time properly. I also have a very short movie showing the movement working.
I attach other photos I’ve taken myself which are not nearly as clear but which show the inscription, face, winder and the lug. The jeweller said there was a hallmark on the lug and you can see it, but not decipher it, in the photos.
I have never worn the watch myself and do not want pay hundreds of pounds for a service /repair so I want to sell it. I accept that I have no control of what any buyer does with the watch but would prefer to sell to someone who would repair it and either use it himself or sell on.
The jeweller has offered me £600. Obviously she needs needs to build in a margin to allow for the cost of repair or if not repairable the base value of the gold. But I suspect this is too low. Could you help me please with the following?
Thanks in advance
Our local jeweller who also deals in, but does not herself service, watches has confirmed that whole case is 18 carat gold, opened it and taken high resolution photographs which I attach. Unfortunately, she did not provide me with a photograph of the inside of the case back with a reference number but I know from the serial number14862221 that it dates from 1955 and can see the Movement is a 501 and it has 19 jewels. the number 232 is visible at the side of the case.
If wound up or shaken it will work in the sense that the second hand starts moving round but it will not keep time properly. I also have a very short movie showing the movement working.
I attach other photos I’ve taken myself which are not nearly as clear but which show the inscription, face, winder and the lug. The jeweller said there was a hallmark on the lug and you can see it, but not decipher it, in the photos.
I have never worn the watch myself and do not want pay hundreds of pounds for a service /repair so I want to sell it. I accept that I have no control of what any buyer does with the watch but would prefer to sell to someone who would repair it and either use it himself or sell on.
The jeweller has offered me £600. Obviously she needs needs to build in a margin to allow for the cost of repair or if not repairable the base value of the gold. But I suspect this is too low. Could you help me please with the following?
- Is this watch likely to be of value to a collector? If so how much could I expect for it "as is" and how would I go about selling it?
- Similarly, how much could I expect from a dealer?
- does the known provenance and the inscription affect the value?
- Can you estimate how much the actual gold content weighs so I can establish a base value from the current prices offered for 18 carat gold.
Thanks in advance
