Rolex Oyster Perpetual 4392

A checked version of this page, approved on 17 October 2026, was based on this revision.

Steel Rolex Oyster Perpetual reference 4392, case 607544, with two-tone dial and Jubilee bracelet — Antiquorum, Monaco, 12 December 2025, lot 105.

Auction catalogues identify Rolex ref. 4392 as an automatic Oyster Perpetual. Documented watches have steel or gold cases, 31–32 mm in the records reviewed, and more than one dial layout. The catalogues date individual watches from circa 1945 to a single circa-1959 estimate; the production span remains open. Antiquorum and Skinner name Cal. 630 or 630NA in particular examples. A 2025 Antiquorum catalogue describes small seconds on a dial it considers probably reprinted, so that watch cannot anchor a factory variant.

Core facts

detail	documented evidence
reference	4392
model wording	Auction houses describe it as an Oyster Perpetual; Bubbleback is a collector grouping
documented dates	Catalogue estimates include circa 1945, 1946, 1947, 1949 and 1959; these are dates assigned to individual watches
case	Tonneau or rounded Oyster cases; 31 mm in one record and 32 mm in several others
materials	Stainless steel and 14 ct / 14K gold examples are recorded; the Field Manual lists yellow-gold 4392/7 and rose-gold 4392/8
movement	Automatic; Cal. 630 or 630NA, 17 jewels, named in several records; Heritage gives movement no. N 26369 without a caliber, and Antiquorum's 1991 lot gives a 9¾-ligne, 17-jewel movement
seconds	Center seconds in several lots; Antiquorum's 2025 lot describes small seconds on a probably reprinted dial
known dial examples	Black radium Arabic, silvered applied markers, salmon (refinished), Black, Starr & Gorham signed, and a two-tone Breguet-numeral dial catalogued as probably reprinted

Where it sits in the line

Christie's and Antiquorum catalogue the 4392 as an Oyster Perpetual. Rolex Forums and specialist lists group it with Bubblebacks, the collector term for early automatic Oyster watches with a domed caseback. The site uses that family grouping for navigation; the auction catalogues use Oyster Perpetual for the model.

Production outline

Heritage dates a 31 mm steel watch to circa 1945. Christie's gives circa 1946 for another steel example; Skinner and Antiquorum place separate steel watches around 1947, and Antiquorum dates a 14 ct gold example circa 1949. Anderson & Garland gives circa 1959 for a steel watch whose serial is partly masked as 424xxx. These dates belong to individual watches; the latest is one catalogue attribution, not a production endpoint.

Antiquorum's 2025 lot identifies case 607544 and movement 90717, and dates the watch to 1947. Its photographs show a Jubilee bracelet and an exterior caseback. The source calls the dial probably reprinted, which limits what the image can establish about factory dial options.

Movement notes

Antiquorum's 2003 record names Cal. 630 NA, 17 jewels, and a center-seconds layout. Skinner names Cal. 630NA and 17 jewels on a separately catalogued watch. Antiquorum's 2025 lot lists Cal. 630 and 17 jewels but describes small seconds on a dial it considers probably reprinted; the photographs do not show the movement. Heritage gives movement no. N 26369 without a numeric caliber, and the 1991 gold example is described by size and jewel count only: 9¾ lignes and 17 jewels. Cal. 630-family movements are documented in these watches; the movement record for the reference remains incomplete.

See Movements for the broader Cal. 630 and 630NA context.

Dial map

Auction records show several configurations. Heritage describes luminous numerals and large batons; Antiquorum's 1991 gold example has a matte-silver dial with applied gold indexes, and its 2003 steel example has a black dial with radium-coated Arabic numerals and indexes. Christie's calls its salmon dial refinished, leaving its original appearance uncertain. Skinner's watch carries a Black, Starr & Gorham signature, a retailer-signed example rather than a reference-wide dial type.

Antiquorum's 2025 lot has Breguet numerals on a two-tone dial. The house says the dial was probably reprinted and notes its small-seconds display. It also lists Cal. 630, while other catalogue examples identify that caliber with center seconds. The photographs do not show the movement, so keep this as a conflicting lot description rather than a verified small-seconds configuration.

Angled view of the two-tone dial and case of Rolex reference 4392, case 607544 — Case 607544, dial and case view. Antiquorum, Monaco, 12 December 2025, lot 105.

Case, bezel, crystal, and crown notes

Several catalogues give a 32 mm diameter; Heritage lists 31 mm for its circa-1945 example. Descriptions include a tonneau-shaped case, screw-down back, and screw-down crown. The reviewed lots include steel watches and Antiquorum's 14 ct gold example from 1991. The Field Manual lists 4392/7 in yellow gold and 4392/8 in rose gold, both with smooth bezels. Those suffix and material entries come from a specialist reference table; the auction records add no complete case or suffix sequence.

The Antiquorum 2025 photographs show a smooth bezel and a domed outer caseback. Its caseback view does not show the inside reference stamp. Crystal type and water-resistance rating are not consistently stated in the available records.

Exterior caseback and Jubilee bracelet on Rolex reference 4392, case 607544 — Case 607544, exterior caseback and bracelet. Antiquorum, Monaco, 12 December 2025, lot 105.

Bracelet, clasp, and packaging notes

Antiquorum lists a Rolex Jubilee bracelet with deployant clasp on case 607544. Other records show leather straps or leave the bracelet unspecified. These are as-catalogued configurations; original delivery and standard 4392 fitment remain unverified. Antiquorum's 1991 lot was offered with a fitted box. One sale does not establish a standard box or paper set for the reference.

Special branches

Skinner's Black, Starr & Gorham signature is a documented retailer-signed example. The Field Manual's 4392/7 and 4392/8 entries distinguish yellow- and rose-gold cases without giving a chronology for those suffixes. The small-seconds watch in Antiquorum's 2025 lot is the clearest unresolved case: the house suspects a reprint, lists Cal. 630, and provides no movement photograph.

Historical market and auction record

catalogue record	watch as catalogued
Heritage, Timepieces Signature Auction, 19 May 2012, lot 60319	Steel; circa 1945; 31 mm; screw-back case; movement N 26369; luminous numerals and batons
Austin Auction Gallery, 26 January 2025	Steel; 32 mm; white dial with gilt Arabic numerals; smooth bezel; later leather strap
Antiquorum, Geneva, 20 October 1991, lot 117	14 ct gold; circa 1949; 32 mm; 9¾-ligne, 17-jewel center-seconds movement; no numbered caliber given
Antiquorum, Geneva, 2 December 2003, lot 32	Steel; 1940s; 32 mm; Cal. 630NA, 17 jewels; black dial; center seconds
Christie's, Watches Online, lot 131	Steel; circa 1946; 32 mm; salmon dial described as refinished
Skinner, 2022, lot 1107	Steel; circa 1947; 32 mm; Cal. 630NA, 17 jewels; Black, Starr & Gorham signed dial
Antiquorum, Monaco, 12 December 2025, lot 105	Case 607544; 1947; steel; Cal. 630, 17 jewels; likely reprinted two-tone dial; Jubilee bracelet
Anderson & Garland, 23 July 2025, lot 414	Steel; serial partly masked; circa 1959 catalogue estimate; white Arabic dial and center seconds

Anderson & Garland's circa-1959 estimate is the latest date in these records. It describes one watch with a partly masked serial, not a production endpoint.

Gallery

Case 607544, full view. Antiquorum, Monaco, 12 December 2025, lot 105.
Case 607544, dial and case profile. Antiquorum, Monaco, 12 December 2025, lot 105.
Case 607544, exterior caseback. Antiquorum, Monaco, 12 December 2025, lot 105.

Sources