Advice on Oyster Perpetual Ref 1005

[Mabeaver84]

Hello Forum,

I've been looking into Oyster Perpetuals for several months, and I found one at an established local seller. This would be my first Rolex purchase.

I'm asking for advice on authenticity, quality, original parts, and price. The watch comes with box and papers. The watch appears to be mint condition with minimal wear, no corrosion or moisture damage. Very little dial patina. Does not include original bracelet.

Details:
Rolex Oyster Perpetual Ref. 1005 (1973)
Serial #: 3814395
26 Jewels, 1570 Caliber
14K Yellow Gold Bezel
Case condition is excellent (seller says unpolished, but looks polished to me)

Includes unique engraving: Freeman United Coal Mining Company with employee's name and 1976 (not sure if this is an inconsistency, or if it's perhaps the year given to the employee).

I was able to verify that Freeman United did indeed award service watches to employees. I've attached a newspaper article (not provided by seller, this I found through my own research).

Seller is asking $6,800

Thoughts?

[CJS57]

If you are ok with the price then do it.

[offrdmania]

I would say the price is a bit strong being that the watch is only 34mm in size. The 36mm solid gold cased watches are starting to pick up in popularity, so I would also check out that market. You can probably get one of them in the same price range on a leather strap and it would be a better pick up IMO

[minengr]

Just further confirming that Freeman United did give out watches after 25 years of service. They typically, because of the engraving, ordered them a year in advance.

Can also confirm, that despite already being ordered, 24 years and 4 months of service will not get you a watch. IMO, my father got hosed.

I do not recognize the name on the watch, but I have met Warren Hattendorf mentioned in the article.