I am not an expert in these but it looks indeed like a franken.
Case seems to be a 2913 or 14755 indeed so as you said nothing to do with a 503 caliber
Bezel looks too good to be true so probably a later replacement
Dial is incorrect and really seems too small for the case
Hands are also wrong and nothing to do with the 2913 or a 14755 references (check
here for correct examples)
Crown is an original flat foot which is correct for some references (unless your watch had a mercedes crown but I wonder how we could know where this watch is coming from)
Now it all depends on what you want to do with it, try to source the right parts (dial/hands/movement) which will be very costly and quite time consuming (but hey we like the hunt don't we
) or may be look for a more correct example
It also depends on how much you bought it for... hopefully no more than the sum of the (correct) parts...
if it's too high then ask the seller for a refund otherwise good luck for the hunt
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