• cal. 23 manual winding nickel lever movement, 17 jewels • silvered dial, applied yellow gold faceted dart indexes with luminescent dots, yellow gold luminescent Lancette hands, engine turned subsidiary dials for constant seconds, and 30 minute registers, outer black minute and 1/5 second divisions, outermost black pulsations scale • 18k yellow gold case, round chronograph pushers, screw down crown and solid case back • case, dial, and movement signed • with an 18k yellow gold Rolex rivet bracelet and folding clasp

CASE Please note that the diameter measured from 10 and 4 is approximately 36 mm. The diameter from 6 and 12 measures approximately 24 mm. Case with wear, oxidation, and light scuffs. Right side case band, chronograph stems heavily oxidized. Bezel from 9 to 12 light small, deeper spots of oxidation. Lugs with signs of previous polish as observed by lug holes. Face of lugs maintain an attractive brushed texture. Superficial scuffs and small nicks throughout. Inside of lugs with some material inconsistency likely from use and natural wear from changing bracelet. Case back in good condition with light wear and scuffs. Bracelet with equivalent wear and scuffing. Clasp with some heavier wear and scratches. Crystal glazing with scuffing and scratches - especially between 10 and 12. Between the lugs at 12 with some small undulations. DIAL Dial remains attractive and well preserved overall. There is wear and small surface scratches throughout some areas with deepened coloring. More surface scratches to the engine turned sub dials. Lumed areas with oxidation. Lumed dots with heavy oxidation and many with loss. Fading to the O and Y or oyster. Light fading to the text overall. MOVEMENT Chronograph function working properly. Some areas with wear and light oxidation. Bridge with some wear likely from previous service. The movement is running at time of cataloging, however it was not tested for the accuracy of time or duration of the power reserve and may need service at the buyer's discretion. Please note that Sotheby's does not guarantee the future working of the movement.
"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."

The Rolex Ref. 4500 is one of the very few Oyster chronograph models to feature only two subsidiary dials, for constant seconds, and 30-minute register. As a result, the dial is rendered more symmetrical, and along with its round pushers and screw down case back, bears similarities to Patek Philippe's celebrated Reference 1463.  The present example is particularly unusual for its pulsations scale. The pulsometer scale is an uncommon calibration designed for medical professionals to count the exact number of heartbeats per minute. According to our research, an extremely limited number of vintage Rolex chronographs with Oyster cases featuring pulsations dials were produced, and less than four 4500s have appeared to market with these scales.

Reference 4500 was launched in the 1940s and was available in yellow gold, pink gold, stainless steel and in stainless steel and gold.

Various models of reference 4500 are described and  illustrated  in I Cronografi Rolex - La Leggenda, Pucci Papaleo Editore, pp. 206 - 221.