Well...in short - possibly?
For a proper evaluation we'd need/want as many pics as possible, especially any available of the movement, caseback, dial closeups, s/n range for dating - basically the whole kitchen including the sink. Looks somewhat polished, though not to the bone like some. Silver dial is the more common variation for these, but that isn't a 'bad' thing, just a factor. Is it a full bracelet? Do the stampings all match within reason to the aprox date of the watch? (I had a '63 production ref. 5500 on what I fully believe was the original bracelet from early '64, for example)
Do you know what was done during service? Who specifically performed it? At a glance the hands look new replacements, but w/o knowing more, I'd hesitate to say for certain.
In any case $3200 for a legitimately serviced 1500 on a genuine Rolex bracelet isn't the worst deal I've ever heard of, but it's not a screaming bargain either - the devil's in the details, especially with vintage Rollie.
Good luck!
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