Rolex 1003 Oyster Perpetual

Steel 1003, circa 1975, with the engine-turned bezel and a heavily spotted cream dial

The Rolex 1003 is a no-date Oyster Perpetual with an engine-turned bezel. Auction catalogues use several descriptions for the bezel, including “milled,” “ridged” and “graduated engine-turned.” The 1003 shares the 34mm case family with the smooth-bezel 1002, but catalogue markings vary: some steel examples have 1002 stamped inside the caseback, while gold examples have been listed with 1005 there.

Auction catalogues document steel and gold cases, British-market 9-carat examples, personalized dials and watches catalogued with Air-King dials.

Core facts

detail	value
reference	1003
family	Oyster Perpetual
production	dated auction examples run from circa 1960 to the late 1970s
case diameter	34mm in most catalogues; auction listings range from 33mm to 35mm
lug width	19mm
thickness	c.12mm
case material	stainless steel; 14k and 18k yellow gold; 9k and 9ct gold for the British market
bezel	engine-turned, graduated with hour divisions on documented gold examples
crystal	acrylic
movement	most reference tables list calibers 1560 and 1570; one Bonhams 1003 lot lists caliber 1530, a disputed catalogue attribution
certification	Superlative Chronometer Officially Certified
date complication	none
bracelet	rivet Oyster, later folded Oyster, gold fold-over bracelets, leather
caseback	screw-down; some examples carry 1002 or 1005 inside, and Antiquorum says the backs could be interchanged at the factory
paired designations	catalogued as 1003/1002 and 1003/1005
sibling references	1002 (smooth), 1006 / 1007 / 1008 (engine-turned), 1005 (fluted gold)
oversized relative	1018, the 36mm case

Where it sits in the line

The 1003 is one of the engine-turned-bezel references in the four-digit Oyster Perpetual line. The 1002 has a smooth bezel; the 1005 is associated with the fluted gold bezel. References 1006, 1007 and 1008 also appear with engine-turned bezels. Auction records use paired designations such as 1003/1002 or 1003/1005, reflecting the different numbers found between the lugs and inside the caseback. The 1018 is the 36mm model in this family.

Production outline

Auction catalogues place individual examples from around 1960 through the late 1970s. Cases 512,833 and 573,835 are circa 1960; a Glasgow import mark is dated 1961; case 531,734 is circa 1966; case 3,044,042 dates to 1972; case 3,960,865 to circa 1975; and case 5,426,177 to 1977. Antiquorum’s 2004 lot says another watch was produced in the late 1970s and had previously sold in January 1980.

Movement notes

Watch-Wiki lists calibers 1560 and 1570 for the 1003. Collector Square reproduces a Bonhams 2024 lot describing a caliber 1530, movement 98,643, in case 573,835, with a chronometer certificate dated 22 December 1960. Bonhams also recorded a caliber 1530 in a 1002. Treat the 1530 as a catalogue outlier; the reproduction does not establish factory fitment.

Auction records document both 1560 and 1570 examples. Caliber 1560 beats at 18,000 vph; caliber 1570 runs at 19,800 vph. See the movement index for the full lineage.

Dial map

Silvered dials recur in the auction records, with sunburst or satiné finishes, baton or dart markers, luminous dots and chronometer text. Individual lots show a blue Air-King dial on a watch catalogued as 1003/1002, British-market gold examples with gilt darts and Arabic quarters, and corporate logos including Coca-Cola and Diesel Power. Artcurial described its circa-1966 Diesel Power dial as patinated cream. Sotheby’s catalogued its 2021 steel dial as silvered; photographs show heavy spotting and rose-toned markers.

Blue Air-King dial in a steel case catalogued as ref 1003/1002, made 1964

Case, bezel, crystal, and crown

The 1003 has a 34mm Oyster case with 19mm lugs. Auction listings give diameters from 33mm to 35mm and thicknesses around 12mm. Examples have screw-down backs and crowns and acrylic crystals.

The bezel is engine-turned. Auction houses also call it “milled,” “ridged” or “semi engine-turned”; Antiquorum describes some examples as graduated with hour divisions. Terminology varies across catalogues, and their descriptions rarely give enough detail to compare the cut pattern.

Catalogued cases include stainless steel, 14k and 18k yellow gold, and British-market 9-carat gold. In the Coca-Cola 1003/1005 auction record, Antiquorum explains that the number between the lugs identifies the watch’s bezel reference while the inside caseback bears the case reference. Other lots show the same paired-number pattern.

9K gold British-market 1003 with a Glasgow import mark for 1961, silvered dial with gilt dart markers and Arabic quarters

Bracelets, end links, and clasps

Auction examples show steel riveted and folded Oyster bracelets, gold bracelets, and leather straps with signed buckles. The listings establish what accompanied each watch at sale. A clasp date belongs to the bracelet, not the watch head. See the bracelet and clasp guide.

Special branches

The Coca-Cola service awards

Three Antiquorum catalogue appearances cover two or possibly three 18k Coca-Cola 1003 watches. Case 5,426,177 is dated 1977 and appears in Antiquorum’s 2006 sale and Sotheby’s 2014 sale. Case 3,044,042 is dated 1972 and appears in Antiquorum’s 2007 sale. Collector Square reproduces Antiquorum’s 2004 New York lot 118: an 18k 1003/1002 produced in the late 1970s and previously sold in January 1980. The catalogue omits its case number. It could be a separate watch or case 5,426,177. Antiquorum notes that case bodies and backs were interchangeable, so the paired designation cannot identify it. Watch Club separately lists a 14ct gold 1003 as a 1961 presentation watch. The dealer attributes the commission to Coca-Cola; its photograph shows an engraving naming Sal Eaton and dating the presentation to 1 September 1961. Christie’s catalogued a 14k 1002 with a Coca-Cola dial. Artcurial’s separate 14k 1005, case 3,921,444, has a Coca-Cola service engraving for Th. Rummens on the caseback. Heritage catalogued another 14k 1005 with a hand-painted Coca-Cola dial inscription; its condition report says the dial was refinished, leaving the mark’s date and maker undetermined.

Watch Club’s dealer-listed 14ct gold 1003, dated 1961
The dial on 18k case 5,426,177, catalogued circa 1977 by Antiquorum and Sotheby’s
Engraving naming Sal Eaton and giving the presentation date as 1 September 1961

The Sotheby's “Minnie Mouse”

Sotheby’s catalogued a steel watch as “Reference 1003 Air-King ‘Minnie Mouse’” in 2020. Its silvered dial carries Air-King and Precision text, with a printed Minnie Mouse figure between the centre and six o’clock. Sotheby’s lists case 3,011,703, an inner caseback stamped 1002, caliber 1570 and a 33mm case.

The printed character sits between the centre and six, under Air-King and PRECISION text

The Diesel Power Company dial

Artcurial catalogued a 14k yellow-gold 1003, case 531,734, circa 1966, with a cream dial bearing a Diesel Power Company logo. The catalogue leaves the dial maker and installer unidentified.

British-market gold cases

Bonhams catalogued three 1003 examples in 9-carat gold. One carries a Glasgow import mark dated 1961 and a caliber 1560; case 512,833 was catalogued circa 1960 with a butterfly rotor; a third was offered with a 9ct gold bracelet and a 1966 receipt. The import mark dates the case, while the receipt records the documented purchase. See the serial-number guide for assay-date context.

Auction record

Antiquorum sold case 5,426,177 for CHF 11,800 in 2006; Sotheby’s reported CHF 37,500 when it resold the watch in 2014. The table gives each result in the sale currency.

date	house	configuration	result
Sep 2024	Bonhams, Weekly Montres, lot 84	steel, cal 1530, case 573,835; certificate dated 22 December 1960	GBP 960
Jun 2021	Sotheby's Geneva, Fine Watches, lot 42	steel, dial catalogued as silvered; photographs show spotting, cal 1570, case 3,960,865	CHF 2,142
Oct 2020	Sotheby's New York, Watches, lot 97	steel Air-King 'Minnie Mouse', cal 1570, case 3,011,703, c.1972	USD 7,560
Nov 2017	Bonhams London, Watches and Wristwatches, lot 121	9K gold, Glasgow import mark dated 1961, cal 1560	GBP 2,000
Nov 2016	Antiquorum Geneva, lot 38	steel with Air-King dial, case 1,197,501, made 1964	CHF 1,875
May 2014	Sotheby's Geneva, Important Watches, lot 216	18k gold Coca-Cola, ref. 1003/1005, case 5,426,177, circa 1977	CHF 37,500
Jul 2011	Artcurial Monte-Carlo, Fine Watches, lot 406	14k yellow gold, Diesel Power Company service dial, case 531,734, c.1966	EUR 4,335
Dec 2007	Bonhams New York, Fine Watches and Wristwatches, lot 125	9k gold, cal 1560 with butterfly rotor, case 512,833, c.1960	USD 1,440
Oct 2007	Antiquorum Geneva, Important Collectors' Watches, lot 486	yellow gold Coca-Cola, ref. 1003/1005, case 3,044,042, 1972	CHF 12,980
May 2006	Antiquorum Geneva, The Mondani Collection, lot 111	18k yellow gold Coca-Cola, case 5,426,177, 1977	CHF 11,800
Mar 2004	Antiquorum New York, lot 118	18k gold Coca-Cola, ref. 1003/1002; case number unreported; catalogue says produced late 1970s and previously sold January 1980	USD 4,140

Related references

Oyster Perpetual 1002, 34mm, smooth bezel
Oyster Perpetual 1005, 34mm, fluted gold bezel
Oyster Perpetual 1007, 34mm, engine-turned bezel
Oyster Perpetual 1018: the 36mm case in the same line
Air-King 5500: the same case, non-chronometer
Explorer 1016: same calibers, 36mm Explorer dial

Whole-watch view, steel 1003
Watch Club’s dealer-listed 14ct gold 1003, dated 1961
Air-King character dial in a 1003-marked case
Coca-Cola service dial on 18k case 5,426,177, catalogued circa 1977
Blue Air-King dial in a 1003/1002 catalogue example
British-market 9K case and dial detail
Coca-Cola service engraving on the caseback, dated 1 September 1961

Sources