Did this Air King go cheap?

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That dial is in bad shape with black lume and damage to the printing. Rollies tend to clean up really well, but if it has a dial like that, it would need to be replaced. A decent dial is $300+ these days.
 
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Getting any vintage Rolex under £2K (inc fees and shipping) is a tall order these days. Especially one that checks out as authentic and original. To score one below this means swallowing some risk. Bottom-feeding is where the bargains are to be had, hidden amongst all the lemons. He who dares wins, and all that...

In the US, a basic movement service will run about $750 inc consumables like barrel spring and gaskets (add shipping). If you need authentic parts things get spendy. So make sure anything you buy is at least running (even badly). And don't take on a restoration project as your first one.

Things I love about manual Precision models, and things to look for...

Great sizes (34-36mm)
Textured dials (especially the waffle)
Alpha and dauphine hands
Applied Rolex coronet
Robust simple movements (cheap-ish to service)
Acrylic crystals (easily buffed)
Look out for rare Super Precision models

Things I'm not wild about and to watch out for...

Rattly, stretched bracelets and endlinks
Lots of (poor) refins and redials
Brutally polished cases with incorrect finishes
Swapped or mismatched case backs
Pitting & corrosion
Original radium lume looks really grungy. Tritium ages better.
A good relume of hands and dial is not to be feared on a 40's or 50's piece.

Otherwise, these 4-digit precisions are great starter-Rollies. I've owned several and would recommend them.

Post what you find and good luck!
 
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That price is okay, based on comparables. Welcome to 2021, and get ready to dig deeper next year, and the year after that.

Add my vote for the Vintage Field Guide. A must have.
 
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That price is okay, based on comparables. Welcome to 2021, and get ready to dig deeper next year, and the year after that.

Add my vote for the Vintage Field Guide. A must have.
I miss the early 00’s, when 1675’s were $3k, 1601’s were $1.5k, Airkings were $600 and Tudor Prince’s were basically free. Oh the days of sanity.
 
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Rolex that are old enough to not really resemble modern ones have sharp drop offs in price.
 
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Rolex that are old enough to not really resemble modern ones have sharp drop offs in price.
I think you’ve just stated the two reasons I like them😜
Edited:
 
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I miss the early 00’s, when 1675’s were $3k, 1601’s were $1.5k, Airkings were $600 and Tudor Prince’s were basically free. Oh the days of sanity.

I was too young, this is too bad !