Rolex Oyster Royalite

[kebex]

Hi,

My grandfather gave this watch to me recently. Out of curiousity, I was searching the internet for this watch so as to identify it but couldn't come up with a definate answer. I have included some links to the pictures below;

http://img9.imageshack.us/i/img20101219134521.jpg/
http://img585.imageshack.us/i/img20101219134605.jpg/
http://img703.imageshack.us/i/img20101219134625.jpg/
http://img810.imageshack.us/i/img20101219134646.jpg/
http://img406.imageshack.us/i/img20101219134710.jpg/

A visual inspection of the watch dial shows the words,"Rolex Oyster Royalite" centred on the top while on the bottom of the dial, the words "Observatory" is written. On the very bottom of the dial, the words "Swiss Made" is shown.

The dial colour is split into 2, the outer dial is darker while the inner dial is lighter with the arabic numbers from 13 to 24 in red on the edge of the inner dial. The outer dial shows big black arabic numbers from 1 to 12 on the outer edge of the dial.

The watch measures approx. 25mm in diameter and it is powered manually by winding. The watch band is made of crocodile skin but I do not think it is the original band that came with the watch. The case seems to be made of steel and there is some scratches on the back. There seems to be a 6 digit serial number on the back, 184661.

So, I was wondering whether anyone could tell me when this watch was made, rarity and a current estimated value. Also, do you think I should take it in for servicing/inspection at the Rolex Centre?

Thanks everyone in advance!

[kenlinliu1419]

The last time I heard something similar to this watch, it was sold for about USD 1500, but that was for a gold version.
I think it was either a 30s or 40s watch.