Just picked this up from a carboot!

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Well I'd say you certainly have the best score of the fourth quarter, perhaps the year!
 
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@Darobs - you have already probably gotten PM’s on this watch and that’s your choice as to do what you want with it, but it needs to be said that’s it’s a rarity, particularly in this condition, and the bracelet is also very rare.
It needs to be serviced- all the oils inside are dry as a bone. Don’t wear it anymore until you get it serviced by a competent watchmaker who is sympathetic to vintage watches. Do not take it to omega- I can’t stress that more- they will destroy it. If you don’t know a good watchmaker, ask here and one will be suggested near you.

If you intent to sell it, don’t service it, don’t polish it, don’t even clean it- just leave it as is
 
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That bracelet! Great find.

By 'car boot' I assume you're UK?
 
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It’s really a great find. I’m guessing as a car boot hunter and a first time poster here that your going to sell it. Best bet would likely be eBay, and sell it as is without doing any work or servicing as buyers normally prefer to do that themselves. I’m not sure the bracelet is worth more than the watch as it’s unbranded, but it’s still a significant bonus on an already great find.

And going from £1 to let’s say £500 is a hell of a percentage increase ! Each and every day there are buyers probably buying for £499 or more under market value, but it’s a very rare occurrence to buy something for 500 times less than market value. Certainly it’s not an all time record (think of the $6 to $35000 for the LeCoultre DSA), but it’s still a great story. Congratulations !
 
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It’s really a great find. I’m guessing as a car boot hunter and a first time poster here that your going to sell it. Best bet would likely be eBay, and sell it as is without doing any work or servicing as buyers normally prefer to do that themselves. I’m not sure the bracelet is worth more than the watch as it’s unbranded, but it’s still a significant bonus on an already great find.

And going from £1 to let’s say £500 is a hell of a percentage increase ! Each and every day there are buyers probably buying for £499 or more under market value, but it’s a very rare occurrence to buy something for 500 times less than market value. Certainly it’s not an all time record (think of the $6 to $35000 for the LeCoultre DSA), but it’s still a great story. Congratulations !
All good advise, but bracelet is Gay Freres and is indeed branded. These are highly prized by Rolex bubble back and early Sports model owners before Rolex started contracting GF to make them and put their clasp on them.
 
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Thank everyone! I'll stop wearing as advised. I'll probably get a quote to service and that will make my mind up if im keeping it or if its going on Ebay as it is. Thank you for the advice and comments.
 
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All good advise, but bracelet is Gay Freres and is indeed branded. These are highly prized by Rolex bubble back and early Sports model owners before Rolex started contracting GF to make them and put their clasp on them.
I’m not sure about this as a lot depends on subtle details, the age, and of course the lug width. I’ve seen a lot of unbranded GF bracelets sell for low hundreds. The branded ones for Heuer, IWC, UG, etc are typically worth high hundreds into the many thousands. If this is viewed as genuinely “correct” for certain valuable Rolex references then I’d imagine it could be worth a fair bit.

Out of interest what’s the lug width ? It should be something in the range 15-20mm. You’d need to say to the exact millimeter.
 
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Oh that bracelet! It goes so well with any even vaguely sporting watch from the 1950s-1960s. Here's mine on a 1969 Heuer. Do NOT succumb to the first offer, you have a real prize there 👍



Signed Rolex but almost certainly made by Gay Frères..
 
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I’m not sure about this as a lot depends on subtle details, the age, and of course the lug width. I’ve seen a lot of unbranded GF bracelets sell for low hundreds. The branded ones for Heuer, IWC, UG, etc are typically worth high hundreds into the many thousands. If this is viewed as genuinely “correct” for certain valuable Rolex references then I’d imagine it could be worth a fair bit.

Out of interest what’s the lug width ? It should be something in the range 15-20mm. You’d need to say to the exact millimeter.
Seems it measures
18mm
 
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Just for info, a service can be anywhere between $200-600 depending on where you take it or what parts may be needed. If I were inclined to keep it, I would take it a vintage Omega expert (in the U.K. Simon Freese is one of the known experts) and eat the cost. If you are into watches, this would be a great addition to a permanent collection.
 
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MRC MRC
Oh that bracelet! It goes so well with any even vaguely sporting watch from the 1950s-1960s. Here's mine on a 1969 Heuer. Do NOT succumb to the first offer, you have a real prize there 👍



Signed Rolex but almost certainly made by Gay Frères..
Couldn’t agree more- mine is generic with aftermarket endlinks but who cares- it’s awesome!