• cal. 12-120 manual winding nickel lever movement stamped twice with the seal of Geneva, 18 jewels, mono-metallic compensation balance, micrometer regulator, adjusted to heat, cold, isochronism and five positions, metal dust cover • gilt dial, applied gold bullet indexes, outer pearled minute tracking, gold dauphine hands, engine-turned subsidiary seconds • 18k yellow gold water-resistant-type case, faceted bezel, screw back • case, dial and movement signed

The movement is running, however it may require service soon. It is stamped HOX. The dial has acquired a rich patina and the signature is in hard enamel. There is some spotting to the center of the subsidiary seconds. The case back has some pitting, and it is stamped 18k. This stamp as well as the HOX stamp indicate that the watch was made for the American market. The strap of this wristwatch is made from an endangered species; please refer to Important Notices for further information.
"In response to your inquiry, we are pleased to provide you with a general report of the condition of the property described above. All dimensions in catalogue descriptions are approximate. Condition reports may not specify mechanical replacements or imperfections to the movement, case, dial, pendulum, separate base(s) or dome. Watches in water-resistant cases have been opened to examine movements but no warranties are made that the watches are currently water-resistant. Please note that we do not guarantee the authenticity of any individual component parts, such as wheels, hands, crowns, crystals, screws, bracelets and leather bands, since subsequent repairs and restoration work may have resulted in the replacement of original parts. Since we are not professional conservators or restorers, we urge you to consult with a restorer or conservator of your choice who will be better able to provide a detailed, professional report. Prospective buyers should inspect each lot to satisfy themselves as to condition and must understand that any statement made by Sotheby's is merely a subjective, qualified opinion. Prospective buyers should also refer to any Important Notices regarding this sale, which are printed in the Sale Catalogue. In particular, please note it is the purchaser's responsibility to comply with any applicable import and export matters, particularly in relation to lots incorporating materials from endangered species.NOTWITHSTANDING THIS REPORT OR ANY DISCUSSIONS CONCERNING A LOT, ALL LOTS ARE OFFERED AND SOLD AS IS" IN ACCORDANCE WITH THE CONDITIONS OF BUSINESS PRINTED IN THE SALE CATALOGUE."

**Please be advised that bands made of materials derived from endangered or otherwise protected species (i.e. alligator and crocodile) are not sold with the watches and are for display purposes only. We reserve the right to remove these bands prior to shipping.

Important Notice regarding importation into the United States of Rolex watches
Sotheby's cannot arrange for the delivery of Rolex watches to the United States because U.S. laws restricts the import of Rolex watches. The buyer or a designated agent may collect the property in the country of sale."

Accompanied by an Extract from the Archives confirming ಞproduction in 1952 and sale on&ꦺnbsp;October 30th of that year.

This model, Ref. 565, was introduced in approxima🐲tely 1938 and was manufactured for almost fifteen years before being replaced by Ref. 2532.

The inside of the case back is stamped 'FB', the maker's mark for Tauber🌄t & Fils. From the late 19th century, when it existed under the name Frères Borgel, Taubert & Fils was one of the finest Geneva-based case makers and specialized in water-resistant cases. They worked with many firms, including Patek Philippe, Vacheron Constantin and other fine watchmaking companies.