Advice needed re: 1665 price & restoration

[Subfiend]

So, about six weeks ago, I posted a story about a 78 year old retired U.S. Navy SEAL who had a mid-1970s Sea-Dweller that once was a DRSD, but the dial had been switched out by an unscrupulous repairman and replaced with a fake dial. He asked me how much it was worth and I honestly told him that it was probably worth more to his sons as a family memento than it was as a collector's piece. See http://www.rolexforums.com/showthread.php?t=121980

He later told me his sons were not interested in the watch. Today, a package arrived containing the watch (head only) and a note saying "Whatever you determine the value, just send me a check." I am really in a quandry. I would like to give this gentleman a fair value for his watch, but I don't know what this would be. As far as I can tell, this is its condition:

• well worn (from military deployments)
• head only, no bracelet or end links
• in need of a full servicing
• in need of a correct dial (probably a Mark IV DRSD dial)
• no box and papers
• in need of some form of letter from the original owner authenticating it

How can I determine the value? At a minimum, I have to obtain prices for servicing, a dial and a bracelet, but I have to use some number as a starting point.

Any advice would be greatly appreciated.

[mcubed]

Just some perspective:.This is a pretty common story:Guy had a watch, it got flooded, got redialed at a time when no one knew or cared what a "red sea dweller" was. In fairness, one of the reasons why these are so valuable is because so many of them had their dials replaced during servicing.



If you choose to accept the watch and give him a fair price for it, you might want to think creatively about what to do with this acquisition. You don't HAVE to restore it to original with a new DRSD dial and original bracelet (and incur thousands in extra cost). You could just have a movement service, new gaskets, perhaps a new crystal (A minimal service), put it on a nylon strap and enjoy having a watch that has seen more adventures than 99% of the subs out there. Then show it too him, and tell him you appreciate the opportunity to buy a watch with such an interesting history. There is more to collecting than pristine red sea dwellers with box and papers that were never used..I hate to think that a watch of this character would be considered "worthless" because it was used the way many fantasize that their subs should be used. It should be preserved as a testament to a life lived with adventure.

I have no idea on value, but it is still likely worth more than my P serial 14060M

[Subfiend]

I am far more interested in owning a watch with a history than a safe queen. This one actually came out of a sock drawer! I just want to do the right thing.

[greekbum]

q

[greekbum]

Originally Posted by Subfiend

I am really in a quandry. I would like to give this gentleman a fair value for his watch, but I don't know what this would be. As far as I can tell, this is its condition:
How can I determine the value?

IMHO it all depends on the condition of the case, case back, bezel and movement on something like this.
I saw 1 with a broken lug,redial, and rusted movement a few years ago sell for 7k

[ParisDakarBmw]

Send Steve Mulholland a PM, and som pics. He does great restorations, and is a great guy.

The dial is the most valuable part of the watch due to rarity. If your looking to restore it correctly, plan to spend a good bit on the red dial. If you just want to buy the watch for a future project, I would get a vintage Rolex pro to give you the current value, and a restoration cost.

If you have a printed paper from a good watch dealer, you could give that to your friend along with the payment.

I'd purchase the watch, and hunt for a red dial.

You'll be selling a kidney to buy the correct dial!

[Rikki]

If you want it restored let me know have done dozens of dr and single reds. Go to my website www.timecareinc.com and check before and after pictures. Value without original dial best guess 3 to 5 g's it'll cost you that much for a vintage dr dial. My suggestion have it serviced wear it enjoy it and if the opportunity arises to purchace a vintage dial ,well your call. Rik