Rolex Oyster Perpetual 1603

Yo32Leigh · Jun 18, 2022

Recently I purchased a job lot of old watch boxes at auction. Contained within one of the boxes (generic, not branded) was the attached receipt.
As you can see, this was for a Rolex Oyster Perpetual 1603 way back in 1970, coincidentally the week of my birth.
The $258 paid in 1970 equates to approx. $1900 in today's money. I wonder how that compares to current values for the same watch?
Within the same box were a couple of spare links. I'm not familiar with the Rolex brand but they may be for the same watch. I've tried to include measurements so more experienced members can offer their opinions.
Bizarrely, the receipt is 5 days younger than me but appears to have weathered better 🤦

johnireland · Jun 25, 2022

Today, depending on condition, it could fetch 5 to 6 thousand dollars retail. 1601 was the fluted gold bezel, 1602 was a smooth steel bezel, 1603 was a machined bezel. The movements are robust and when properly set up, very accurate. The dials were the same choices with any DateJusts of that era. These DateJust were the watches that made Rolex popular in America in the 50s and into the 60s...then the Submariner began to take over. The links look to be from a stainless Jubilee bracelet. Shame a watch wasn't hiding in one of the boxes.

Dan S · Jun 25, 2022

The watches on left (from 1970) and right (from 1972) are 1603 references, like your watch. The one in the center is a 1601 with a fluted bezel (from 1970). The values are typically in the $4k range at present, although the one at right has a bit more value because the particular (wide-boy sigma) dial is collectible. Colored or fancy dials are also carrying some extra value at the moment.

gatorcpa · Jun 25, 2022

Yo32Leigh
The $258 paid in 1970 equates to approx. $1900 in today's money.

Not exactly correct. Rolex is a Swiss watch. In 1970, it took more than 4 Swiss francs to buy US$1. Today, a dollar buys a little less than a franc.

So you need to take your $1,900 and multiply by 4.5. That gives you $8,550. Take a look at the asking price for a new Rolex OP with a white gold bezel:

https://www.rolex.com/watches/datejust/m126234-0050.html#/m126234-0050/dial

$8,500! Who knew?
gatorcpa

Davidt · Jun 26, 2022

johnireland
Today, depending on condition, it could fetch 5 to 6 thousand dollars retail. 1601 was the fluted gold bezel, 1602 was a smooth steel bezel, 1603 was a machined bezel. The movements are robust and when properly set up, very accurate. The dials were the same choices with any DateJusts of that era. These DateJust were the watches that made Rolex popular in America in the 50s and into the 60s...then the Submariner began to take over. The links look to be from a stainless Jubilee bracelet. Shame a watch wasn't hiding in one of the boxes.

Isn’t the smooth bezel ref 1600, not 1602.

Rolex Oyster Perpetual 1603

Yo32Leigh

johnireland

Dan S

gatorcpa

Davidt

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