Forums Latest Members

Rolex Oyster Perpetual 1603

  1. Yo32Leigh Jun 18, 2022

    Posts
    168
    Likes
    125
    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 ::facepalm2::
     
    20220618_200112.jpg 20220618_210249.jpg 20220618_210007.jpg 20220618_205906.jpg
    Duracuir1 likes this.
  2. johnireland Jun 25, 2022

    Posts
    423
    Likes
    916
    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.
     
  3. Dan S Jun 25, 2022

    Posts
    13,810
    Likes
    31,727
    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.

    rolex_silver_djs.jpeg
     
    ALEJANDRO BOVONE and Duracuir1 like this.
  4. gatorcpa ΩF InvestiGator Staff Member Jun 25, 2022

    Posts
    11,191
    Likes
    13,421
    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, Boojumhunter and Dan S like this.
  5. Davidt Jun 26, 2022

    Posts
    7,659
    Likes
    12,155
    Isn’t the smooth bezel ref 1600, not 1602.
     
    Dan S likes this.