1946 Rolex Big Bubbleback Two Tone Dial Stainless Steel Ref. 5028

Rolex Oyster Perpetual “Ovettone” Ref. 5028, Stainless Steel, 1946

Bubbleback collecting has enjoyed a dedicated following since the 1980s, when enthusiasts began to appreciate these early self-winding Rolex watches not only for their historical importance but also for the remarkable variety of configurations in which they were produced. Dials, case materials, bezels, indexes and handsets appear in seemingly endless combinations, making Bubblebacks one of the most rewarding areas of vintage Rolex collecting. While the classic Bubbleback is typically found in a 32mm case, larger examples were produced only in very small numbers and remain among the most sought-after references within the category today.

Offered here is one such watch — the stainless steel Rolex Oyster Perpetual “Ovettone” reference 5028 from 1946. Measuring sound 36mm, it stands noticeably apart from the standard Bubbleback format and offers a wrist presence that feels surprisingly modern. The watch features an attractive two-tone silver dial with an engine-turned outer track, applied gold indexes and blued central seconds hand, creating a particularly elegant and balanced appearance that is characteristic of Rolex’s finest post-war production.

The case remains strong and well preserved, retaining the purposeful proportions that make these oversized Bubblebacks so appealing. Equally attractive is the unrestored dial, which has developed a soft and even patina over the decades. The original surface remains untouched and is complemented by its original handset, details that collectors rightly place great importance on. Completing the watch is a later original Rolex pin buckle, providing a fitting period-correct accompaniment.

Produced in only very limited numbers, the reference 5028 belongs to a small and highly desirable group of oversized Bubblebacks that rarely surface on the market. Their larger dimensions, combined with the charm and character of Rolex’s early automatic watches, make them appealing not only to collectors seeking a Bubbleback suited to a larger wrist, but also to seasoned Bubbleback enthusiasts looking to add a genuinely scarce variation to their collection. Opportunities to acquire examples such as this are increasingly uncommon, particularly when preserved in such honest and original condition.