COMEX 5514

The Myth

By Ed Delgado · DRSD.com

Reference

Rolex 5514

Production Period

1972–1978

Issued To

COMEX divers only — never sold by retailers

Helium Escape Valve

Yes (HEV)

Known Batches

At least three — each with distinct characteristics

Cited Production

154 (urban myth — evidence suggests significantly more)

COMEX Serial Sizes

Small · Medium · Large — approximately three sizes known

Nothing has captured the imagination of Rolex collectors as the COMEX 5514 and the military sub 5513/17. They hold a very dear place in their hearts, as it should.

The 5514 has now surpassed other COMEX watches as the most popular and the watch to have for any serious Rolex collector.

The 5514 model was a batch of watches specially made for COMEX and its divers — never sold by retailers. It was delivered after the successful testing of the 5513 with HEV, and COMEX made a special order of these watches.

      The magic number that keeps being quoted is that only 154 of these were delivered to COMEX. While that is an urban myth — since there is evidence that many more 5514 were delivered in at least three batches — each batch has its own distinct characteristics.
    

Many of us are under the impression that COMEX got some extra white paint on all their dials, but this is clearly not universal and from the last batch.

The classic 5514 is as shown below — a Tritium dial with COMEX logo and big numbers on the caseback. This is the end of the evolution for the 5514.

The classic 5514 — Tritium dial with COMEX logo, and large numbers on the caseback. The end of the evolution for the 5514.

An Early Batch Example

The watch below was purchased from a good friend. It is a 5514 with a serial dating it to 1974 and delivered to COMEX in 1975. The serials and caseback numbers correspond. The caseback engraving is correct — but the dial is not what most collectors expect.

At first glance it looks like a regular 5513.

COMEX 5514 early batch — dial side, serial dating to 1974

Dial side — at first glance, indistinguishable from a regular 5513. Serial dates to 1974; delivered to COMEX in 1975.

COMEX 5514 early batch — caseback with Rolex COMEX engraving and small number at 6 o'clock

Turn it over and the Rolex COMEX engraving is present — with a small number “2XX” at the six o’clock position, almost invisible. Everything else checks out including the non-COMEX dial.

Research indicates that some of the earlier batches with small lettering did not come with a COMEX dial at all. This is why we see some early 5514 examples with glossy replacement dials with white gold around the markers — some have been sent back to Rolex and the original non-COMEX matt dials have been replaced with later COMEX glossy dials.

The Caseback

There are approximately two types of casebacks on the 5514:

Early watches had Rolex COMEX engraved across the caseback.
Later watches had large numbers with Rolex COMEX engraved around the caseback.

To add further complexity, the COMEX serial numbers came in approximately three sizes: small, medium, and large.

Conclusion

Collector’s Note · Ed Delgado

In terms of value, most collectors prefer the COMEX logo on the dial — but it is a correct and authentic watch for these early examples not to have a COMEX dial.

These unique watches are treasured by collectors as they represent the unique blend of two iconic companies.

It is befitting to close this with a thought from an email conversation with a former COMEX diver. As a friend, Mr. Pisani always reminds me: these are not just watches, but tools that divers used when they were putting themselves in harm’s way. We must remember the divers always.