Looks nice.

We can see features of a few different watches from the 1946 catalogue in this one, if not an exact match.

We have the double scale (in this case the inner scale is Deci, which is more unusual than the usual 60 second scale), "rotated" markings on the 60 second register and dissected 2,4,8,10 numerals typical of a 2447:

but obviously a 2 register watch in what looks like a 407 case:

The Heuer shield is slightly deeper, denoting a later rather than earlier watch. I wonder what the auction house are basing the 1948 estimate on, it could very well be spot on.

It would have been an absolute steal at the estimates, and is still a bargain now - good clean, nice strap and a more original crown if one can be found and you'd have a nice watch worth a fair deal more than what was paid, I reckon.