So here's the situation. Participants on this forum will now have the opportunity to estimate the "fair market value" of four different watches, each a Monaco 73633B (blue, three register, manual-wind Monaco). For purposes of this exercise, let's assume that each of these watches is being offered by a reputable dealer, meaning that the descriptions are entirely accurate and the dealer will stand behind the watch. We will also assume that each watch is on the original metal bracelet, but with no box or papers. In other words, it's the watch on the bracelet, with no "extras". We will also assume that none of these watches has any gasket or dial issues, so the "gasket goop" does not present any risk in pricing or purchasing any of the four samples.

1. "True NOS". Our first sample is the dream . . . "true NOS", with no "ifs", "ands" or "buts". Our dealer found this Monaco at a local shop, where the little old shopkeeper had purchased the watch for his inventory, in 1972, but he never managed to sell the watch. This Monaco has been stored carefully, and never exposed to the elements, so that the colors are vivid, with no fading at all; the dial is printed perfectly, with every numeral and hash-mark as strong as the day that it left the factory. The watch has never been opened or serviced. Over the years, a couple of prospective buyers carefully put it on their wrists, but it was never sold. All would agree, this one is "NOS". So how much is it worth?
2. "Recently-Assembled" / "Put Together" / "Second Tier" NOS. Our second sample is the newly-defined "Recently-Assembled" or "Put Together" NOS. Here is the story: The dealer knew a reputable watchmaker who has been servicing Heuer watches for many years, let's say since 1970. Well, our watchmaker recently found a perfect 73633 dial, carefully stored since 1972, along with a pair of the original hands and an unused case, all original production from 1972, all in perfect condition. The watchmaker found a Valjoux 7736 movement that was in excellent condition . . . not new, but now freshly overhauled. The watchmaker put all this together, with a NOS bracelet, to produce a Monaco that is newly-assembled, with these 100% original, old parts. So how much is this one worth?
3. "Aged to Perfection" . . . some might call it, "Near Mint". Next up in our dealer's wonderful display case is a Monaco 73633 that has been "aged to perfection". This Monaco is not New Old Stock, under any definition, but has been a one-owner watch since 1972. This Monaco has absolutely perfect patina, on the hands and matching luminous dots; has been worn very carefully, only five or six times per year; has been serviced regularly, every eight or ten years; and has only the very lightest scratches on the case and crystal. It is 100% original and aged to perfection . . . the only thing that has been changed since 1972 is the oil. The bracelet is original and also very near mint. What is this one worth?
4. "New Old Something". The last Monaco that we will consider is the one that David posted yesterday (shown below). This watch is a bit of a mystery. The dealer tells us that it has never been sold, but somewhere along the way, it suffered some damage in the store . . . maybe from moisture or humidity. So the watch was sent to a reputable watchmaker (or even to a TAG-Heuer service center), where it received a new set of service hands, along with a slightly-too-long chrono second hand. There was some work done on the dial, including newly-painted luminous dots and maybe a little touch up here and there. We can see a couple of tiny dots of the midnight blue paint, on the surface of the dial. We see that all the luminous dots have been replaced, with super luminova. When this work was being done, the movement was fully overhauled, so it is running perfectly. There are very light marks on the case, but nothing major. We're not sure, but some might look at the dial, and think that it had been refinished (or at least retouched).

Give us the four prices, or write an essay on each of the watches . . . Yesterday was the classwork and studying; today is the test . . . good luck!!

Jeff