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The Encyclopedia of Horology

Wristwatch · Ladies' automatic wristwatch

Rolex Ladies’ 18k Oyster Perpetual Bubbleback ‘Serpico y Laino’, Ref. 5003

Partially verified

This is an 18k gold ladies' Rolex Oyster Perpetual Bubbleback wristwatch, reference 5003, dating circa 1949 according to Christie's. Catalogued as lot 170 in the Keystone Collection sale, the watch measures 24 mm in diameter and features a textured bezel divided by polished markers. The silvered dial exhibits applied indices, an Arabic numeral 12, alpha hands, a subsidiary seconds dial, and dual retailer branding for Caracas jeweler Serpico y Laino alongside 'Super Precision'. The watch is fitted with an 18k gold expanding rivet Oyster bracelet and houses an automatic movement.

Front view of the Rolex Ladies’ Oyster Perpetual Bubbleback Ref. 5003 with 18k gold rivet bracelet
Front view of the Rolex Ladies’ Oyster Perpetual Bubbleback Ref. 5003 with 18k gold rivet bracelet — Christie's. Rights pending — permission not yet requested. Original source

Catalogue identity

Source
onlineonly.christies.com
Category
Wristwatch · Ladies' automatic wristwatch
Maker / attribution
Rolex
Reference
5003
Catalogue / lot identifier
170
Source-reported date
circa 1949
Country
Switzerland

Source-reported attribution and specifications are not independent authentication. A listing does not establish present ownership, current display, availability or permission to reproduce.

Object description

Case and External Construction

The Rolex reference 5003 is an 18k gold ladies' wristwatch measuring 24 mm in diameter. The bezel features a fluted and textured design divided into sections by raised hour blocks.

The case has been polished and shows scratches on the case back. Serial numbers are visible between the lugs. The watch is fitted with an 18k gold expanding rivet Oyster bracelet, which appears to be a later addition showing stretch, patina, wear, and slight damage to the end link at 12 o’clock.

Evidence for this section
  • “CASE DIAMETER: 24mm”
  • “Fluted and textured bezel divided into sections by raised hour blocks”
  • “The watch shows signs of wear throughout, commensurate with its age and has been polished.”
  • “The numbers are visible between the lugs.”
  • “The case back has been polished and has scratches.”
  • “The bracelet appears to be later with some stretch, signs of wear, and slight damage to the end link at 12 o’clock.”

Dial Configuration

The silvered dial includes a subsidiary seconds register at 6 o'clock and alpha-style hands. The dial is co-branded with the retailer signature 'SERPICO Y LAINO' beneath the 'Oyster Perpetual' designation.

The dial and hands appear to be original, though they exhibit signs of age, discoloration, and patina.

Evidence for this section
  • “Silvered with Serpico y Laino signature”
  • “The dial and hands show signs of age and appear to be original.”
  • “The dial has some discoloration.”
  • “The hands have developed patina.”

Mechanical and Maintenance Status

The watch contains an automatic movement. While the movement was in working order at the time of cataloging, it has not been tested for accuracy and a service is recommended due to the watch's age.

The inside case back bears watchmaker’s marks. Maintenance is required, specifically a new gasket, and the crystal shows crazing.

Evidence for this section
  • “MOVEMENT: Automatic”
  • “The movement is in working order at the time of cataloging, consistent with the age of the watch.”
  • “The movement has not been tested for accuracy.”
  • “A service is recommended given the age of the watch.”
  • “The inside case back has watchmaker’s marks.”
  • “The watch needs a new gasket.”
  • “The crystal has krazing.”

Open research questions

  • What is the specific serial number identified between the lugs?
  • Can the watchmaker's marks on the inside case back be definitively linked to a specific service event?

Source evidence

Recorded claims and source quotations for Rolex Ladies’ 18k Oyster Perpetual Bubbleback ‘Serpico y Laino’, Ref. 5003
FieldSource-reported valueSource quotation
Reference5003“REF. 5003”
Circa1949“CIRCA: 1949”
Case Material18k gold“CASE MATERIAL: 18k gold”
Case Diameter24mm“CASE DIAMETER: 24mm”
Bracelet Material18k gold Oyster expanding rivet“BRACELET MATERIAL: 18k gold Oyster expanding rivet”
MovementAutomatic“MOVEMENT: Automatic”
DialSilvered with Serpico y Laino signature“DIAL: Silvered with Serpico y Laino signature”
Estimated Datecirca 1949“CIRCA: 1949”
Bracelet Size152.5mm“BRACELET SIZE: 6 inches / 152.5mm”

Visible details

  • Fluted and textured bezel divided into sections by raised hour blocks
  • Silvered dial with sub-seconds register at 6 o'clock and alpha-style hands
  • Visible aging, spotting, and surface wear on the dial face and crystal
  • Riveted three-link yellow gold metal bracelet attached via straight end pieces
  • Co-branded dial signed 'SERPICO Y LAINO' beneath the Oyster Perpetual designation

Research qualifications

  • Movement is not visible in the provided image.
  • Christie's condition report notes the bracelet appears to be later with slight end-link damage at 12 o’clock.
  • No original box or papers are included.
  • The source report indicates the watch has been polished, shows crazing on the crystal, and requires a new gasket.

Photograph identity and source facts were screened before import; rights clearance remains pending.

Consulted source

ROLEX, LADIES’ 18K OYSTER PERPETUAL BUBBLEBACK ‘SERPICO Y LAINO’, REF. 5003, | Christie’s

Reviewed 2026-10-22 · Record 8e34ddecde

Terms in this record

Glossary explanations for terms named in this object’s record.