Vintage Rolex, from the 30s? Help please

[geodome]

Hi,

I am new to the Rolex market and I am looking at my first one. It appears to be a ladies model, I am guessing from the 1930s or so, it looks "art deco" to me. The rear of the watch has the numbers "897" at the top and "50630" at the bottom. The side of the winding knob is stamped (faintly) "ROLEX PATENT". I have searched the net trying to find info on it but with my limited knowledge I have been unable to successfully find information about this piece.

I tried to get some decent photos so hopefully they help. As for condition all of the stones are intact. I don't know what type they are, I would assume diamonds, but all I can say is they are definitely "clear stones/gems". Between the stone insets it has a millwork pattern and the side of it has an engraved pattern. The outer face appears to be scratch-free but it looks like there may be some very small, black lint that has gotten inside the case on the face of the watch. Overall, to my untrained eye and lack of knowledge, I would say the watch is in excellent condition cosmetically. However, it does not appear to function. If I pull out the knob I can set the time but the time does not advance.

At this point the watch is owned by someone that is wanting to trade it to me. We are both firearms enthusiasts and he is looking to use this as trade. I am interested in obtaining it for my future wife but I want to know a fair value on it and also what it might entail to get the watch functional, and if that is a smart thing to do. In other words, I don't want to do anything to it that would reduce it's value if it is worth more left untouched.

I have a local jewelry store that I deal with who happens to be a Rolex dealer, but having no knowledge of Rolex watches I don't want to go in completely in the dark. I just don't want to be taken advantage of, but at the same time I don't want to assume this watch is worth thousands if it is something not desirable or collectable.

I have attached some pictures. Thank you in advance for any information and/or help with determining the value.