223 Rolex A technically advanced and exceptional, single button manual chronograph wristwatch in steel, with two-tone sector dial, reference 2303.

Estimate: € 25.000 –⁠ 50.000

• Model Piccolino Monopusher
• Year Circa 1930s
• Reference 2303
• Case Material Stainless steel
• Case Number 021'188
• Bracelet Material Stainless steel Gay Freres bracelet, approximate length 180mm
• Movement Manual, 17 jewels
• Dimension 28mm Diameter
• Signed Case, dial and movement
• Literature This specific watch was previously sold by Bonhams in "Fine Watches and Wristwatches" auction on June 11th 2014 as lot 78 for £22,500.

In the 1930s and 1940s, Rolex explored chronograph production with remarkable creativity, experimenting across shapes, materials, and dial configurations, often in limited numbers.
The reference 2303 represents a fundamental chapter in this early language. Introduced in the 1920s and presented as “the smallest chronograph in the world,” it reflects a time when miniaturisation was a true technical challenge. To house a full chronograph, and notably a monopusher system, within such compact proportions was a remarkable achievement.
In this configuration, the entire chronograph sequence, start, stop, and reset, is controlled by a single crown-integrated pusher, an elegant yet mechanically complex solution in keeping with the watch’s refined proportions.
The present example, in a well-preserved steel case with crisp engravings, features a particularly captivating two-tone sector dial with Arabic numerals, blued feuille hands, and an outer tachymeter scale. Sector dials are always appealing; on early chronographs of this size and period, they are decidedly uncommon and immensely charming.
Completing the ensemble is a Gay Frères bracelet, adding another layer of period correctness and desirability.
Compact in scale yet monumental in significance, the reference 2303 stands as a testament to the ingenuity of early chronograph construction, a diminutive watch with outsized historical importance.