Ridleys to the rescue.

[crgrbrts]

As mentioned elsewhere, I recently purchased a 1959 model 1002, from an eBay seller. Based on its serial number, the watch had been misidentified as a 1946 model, but no matter – I decided to keep it anyway since it had also been advertised as serviced as recently as six months ago.

My decision has turned out to be a “good news / bad news” move.
First the good news. The watch case, back and expandable bracelet are in very nice condition just needing a bit of detailing. Plus, the movement is a genuine cal. 1530 “butterfly”; considered by many as one of the best Rolex ever made.

Now, the unpleasantness. The dial has been refinished – badly. The markers and background are okay, but the Rolex logo and “Superlative Chronograph…” legend are incorrect and faint. As for the movement, well, it’s bone dry, filthy and shows signs of possible water contamination. Many components require replacement to the point that repair will approach virtual remanufacturing. Yes, it was serviced at some point, but that was a very long time ago. What happened six months ago was some case and bracelet polishing, it seems, nothing more.

Fortunately, if very expensively, the Ridleys are coming to the rescue. Bob’s son Phillip is on the case – so to speak – and promises to return the watch in a couple of months with rebuilt works, properly refinished dial, new crystal and seals, and new, correct hands. He actually sounds enthusiastic about the project and about delivering a truly wonderful heirloom quality piece. He’s going to be sending photos of the work-in-progress which I will share with you.

In the end, I’ll own what will probably be the world’s most expensive 1002, but the sting will be soothed in time and I’ll be ultimately happy with the purchase.

By the way, the eBay seller claims total ignorance of the watch’s true condition (for some reason, I believe him) and vows to stop buying and re-selling watches with an unproven past.

As for me, I blame myself – at least in part – for this expensive mistake. Some research before purchase would have revealed the dial flaw if nothing else and given a clue as to the watch’s possible history of damage or neglect. My biggest mistake was acting impulsively. Joining this fine forum before purchase and asking a few questions of the resident experts would have saved literally thousands of dollars.

Take care,

Craig Roberts
Washington, DC

[Mark020]

Why spend so much money on a BR refurb and not just take the loss and buy another one?

[linesiders]

Originally Posted by Mark020

Why spend so much money on a BR refurb and not just take the loss and buy another one?

This

You can get a dial and server for reasonable money and be happy.

The Ridleys have a great rep but why spend more to fix the watch then it will be worth when done? Restoring a high value piece at high cost through the Ridleys, yes. Restoring a lower value piece at high cost through the Ridleys, debateable. Not a knock on the Ridleys - they do great work.

[greekbum]

You can usually find a very mint 1002 for around $2000 give or take a couple of hundred.

[crgrbrts]

I realize that having the watch refurbished may not be the best fiscal decision, but here's the dilemma: in its present condition the rusty 1002 is only good for tossing into a junk drawer (Selling it as-is would be problematical, I would think. Would YOU buy it?), So, the original purchase price is lost. Maybe I COULD find a "very mint" 1002 for $2,000 or so but the ones I've seen have been considerably more than that. Having the Ridleys restore the current 1002 iw surely expensive, but will cost no more -- and maybe a little less -- than acquiring a different, decent 1002.

[Richard Carver]

Sometimes it isn't about the money so much as it is the experience, I think you're having fun. :) It's got it all, the chase, the discovery, the decision to save a lovely old Rolex from the knackers, the fun of discussing the restoration and the sweet anticipation while it's being done.

Pay no attention to these bean counters, enjoy your process and can't wait to see your next project. :)

[crgrbrts]

You're a wise man, Richard. You nailed it!

[linesiders]

Originally Posted by Richard Carver

Sometimes it isn't about the money so much as it is the experience, I think you're having fun. :) It's got it all, the chase, the discovery, the decision to save a lovely old Rolex from the knackers, the fun of discussing the restoration and the sweet anticipation while it's being done.

Pay no attention to these bean counters, enjoy your process and can't wait to see your next project. :)

I have been erroneously labeled a "bean counter". Cheap bastard, yes, bean counter, no ;)

I was just thinking his other thread listed cost as an important variable ;)

[Richard Carver]

Originally Posted by linesiders

I have been erroneously labeled a "bean counter". Cheap bastard, yes, bean counter, no ;)

I was just thinking his other thread listed cost as an important variable ;)

No offense!

[crgrbrts]

I just got the written estimate from Phillip Ridley on my dumpster worthy 1002. He identifies the movement as a cal. 1560 by the way, not a 1530 as I thought originally. (Apparently, some 1560s are engraved 1530 on the bridge - the parts being interchangeable).

Phillip's list of replacement parts is extensive, including things like mainspring and barrel, crown wheel and core, train wheel bits, several jewels, bridge screws, case clamps, case tube and crown, etc., etc., etc.

The newer but incorrect hands on my relic are being replaced with the correct (and prettier) Dauphine hands and, as mentioned, the dial is to be refinished to originality. In other words, I'll end up with a pretty-much-brand-new 1959 Rolex looking very like the attached photo. As I said earlier, I'll be posting educational photos of the restoration process.

According to Jana, Bob Ridley's PA, Phillip is anxious to get going on the world's most expensive Rolex 1002. He's excited.

Me, too.

Craig
Washington, DC

[linesiders]

Originally Posted by Richard Carver

No offense!

None taken

[crgrbrts]

"Linesiders" isn't wrong, either. In an earlier post I did allude to cost being a limiting factor in my Rolex acquisition efforts. I may, in fact, find it necessary to sell a non-essential toy or two to comfortably cover my unwise 1002 purchase and essential refurbishment. We'll see. At any rate, as Richard suspected, I am having fun.

Thanks to all,

Craig
Washington, DC

[ralpie]

Sounds like a good time- wear it and enjoy it!

[77T]

Well I think you've handled the disappointment side very well - especially compared to a recently banned new member who had a bad EBay experience...

And good on ya for putting another Rolex back into proper shape. Some years from now this small hiccup will be forgotten by the pride you'll have in the watch.

[bdex75]

Awesome project. Enjoy the process of bringing her back to life. I have a 1940's chrono that I bought off of eBay. Great shape. But needs a little work. I will be into it for about its retail value when my watchmaker is done but I will make profit in enjoyment and smiles.


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