177 Rolex Fine and Historic, Bubbleback Water Resistant Automatic Wristwatch in Steel and Pink Gold, Two Tone Pink Dial, Retailed by Cravanzola Roma

Estimate: €5,000 –⁠ 10,000

Model: Bubbleback
Reference: 3132
Case Material: Stainless Steel and Pink Gold
Bracelet Material: Stainless Steel and Pink Gold
Year: 1937
Movement: Automatic
Caliber: 9 3/4″
Case N°: 40294
Dimensions: 32 mm
Signed: Dial, Movement and Case

The Bubbleback, before the rise of Rolex sports watches, is the model that truly elevated the Rolex brand, distinguishing it for its superior quality and efficiency. The “ovetto” case, nicknamed due to its round shape caused by the addition of an oscillating weight that thickened the movement, saw numerous references released from the 1930s onwards, including the highly sought-after reference 3132, like the one presented here. Introduced in 1930, this specific model features a beautifully smooth bezel, crafted in pink gold, stands out in striking contrast to the stainless steel case and back. The Oyster riveted bracelet, composed of both pink gold and steel, is remarkable. Adding to the historical significance of this watch is its provenance. It was retailed by Cravanzola, the prestigious Roman jeweler, who was an important distributor of Rolex watches in Italy. The exceptional condition of this Bubbleback is particularly noteworthy. The dial’s original luminous material on the numerals and hands has been remarkably well preserved, with its two-tone pink hue remaining vibrant and unaltered. The case back, which still boasts the Rolex serial number, reference number, and the iconic Rolex crown insignia clearly engraved, is further evidence of the watch’s minimal use and careful preservation. This Bubbleback offers a fascinating insight into Rolex’s pre-sports watch era, combining design, materials, and historical significance with the enduring quality that has made Rolex a world leader in horology.