– By Logan Baker
In the world of military timepieces, few models command the respect and intrigue of the Rolex Military Submariner, affectionately known to collectors as the "MilSub."
We estimate approximately 250 ref. 5517s were produced, of which only 50 are recorded to exist, the rest lost – and a few likely still remaining to be discovered. Now, nearly half a century after its inception, the present ref. 5517 is reunited with its original caseback, a testament to transparency and the meticulous care of its owner.
The ref. 5517 wasn’t your average Submariner. Engineered to meet MOD specifications, it was designed with fixed spring bars welded to the lugs, an intentional feature that prevented the watch from being worn on a traditional metal bracelet that could catch light and jeopardize missions.
Instead, it was paired with a Phoenix-made nylon strap. The large sword hands, 60-minute bezel insert, and luminous tritium dial, marked with the encircled "T," were all MOD-mandated adjustments aimed at ensuring high visibility and accuracy during dives.
Another noticeable difference between the military and civilian models are their caseback engravings – the present watch is marked with the "0552" code for the British Royal Navy, "923-7697," the NATO code, followed by the issue number. The inside of the caseback on this watch is repeated with the serial number, which is correct for a special-order watch.
Please note: The Rolex Military Submariners ref 5517 with serial numbers 5212xxx Issue 736-785 do not have serial numbers engraved inside the caseback, whereas all 5339xxx have their unique serial numbers engraved inside the casebacks.
But the unique character of this particular watch is more than skin-deep. It comes down to the painstaking efforts undertaken by its consignor – a collector who saw the opportunity to return two intertwined MilSubs to their rightful state.
The story of these two watches began when British Special Air Service (SAS) operatives routinely returned their issued Rolex 5517s to the stockroom after missions. In the chaos of servicing and reissuing, casebacks were rumored to occasionally be inadvertently swapped. Such was the case with the two 5517s recently acquired by the consignor, both sold by the same auction house within the same year:
- Rolex Military Submariner ref. 5517, serial number 5339667, caseback engraved with Issue number 835/78, inner case number 5339749, featuring a Maxi dial.
- Rolex Military Submariner ref. 5517, serial number 5339749, with a polished-off caseback engraving but intact inner case number 5339667, also with a Maxi dial.
Reuniting the original casebacks took patience, dedication, and a level of transparency that is, frankly, rare in the vintage watch world. In a further nod to originality, the civilian bezel insert was replaced with an original military example, while the sword hands were re-lumed with tritium to ensure period accuracy without compromising on visibility.
This ref. 5517 now returns to the market with more than just its storied military origins. The consignor’s attention to detail shines through in every aspect of transforming the watch from a timeworn relic into a piece that respects and reflects its original military specification; in other words, it's been returned to its former glory.
Accompanying this piece is a Dive Log, historic images, and a Diving Instructor Certificate – all tied to the other MilSub, ref. 5517, serial 5339667, which underscores the unique, shared legacy of these two watches.
Phillips now offers collectors a MilSub that is a tribute to the MOD’s demanding specifications and a window into the life of a watch that served in some of the most challenging missions imaginable.
You can learn more, place a bid, and view the entire Phillips Reloaded catalog right here.
About Phillips In Association With Bacs & Russo
The team of specialists at PHILLIPS Watches is dedicated to an uncompromised approach to quality, transparency, and client service. Phillips in Association with Bacs & Russo holds the world record for the most successful watch auction, with its Geneva Watch Auction: XIV having realized $74.5 million in 2021. Over the course of 2021 and 2022, the company sold 100% of the watches offered, a first in the industry, resulting in the highest annual total in history across all the auction houses at $227 million.
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