Among the rarest and most charming offshoots of the Rolex Explorer line is the so-called "Dress Explorer"—a term collectors have affectionately given to the Ref. 5501.

There’s something inherently captivating about the name “Explorer.” It evokes rugged cliffs, alpine wind, and the thrill of charting the unknown. Rolex didn’t just name a watch this—they earned it.

The Explorer was born from Rolex’s deep involvement with real-world exploration. In 1953, when Sir Edmund Hillary and Tenzing Norgay reached the summit of Mount Everest, they did so with Rolex Oyster Perpetual watches strapped to their wrists. Their watches were very similar to this model.

That moment wasn’t just a marketing milestone—it was the birth of a legend. The watches survived the ice, altitude, and brutal cold, proving Rolex’s Oyster case and Perpetual movement weren’t just for show. Later that year, Rolex launched the Explorer, a model designed to carry the spirit of human achievement on the wrist.

This very rare ref. 5501 model is believed to have been only for the Canadian market, and only in the early 1960s, where Rolex was experimenting with unique dial configurations and region-specific offerings. It combines the technical prowess of a true Oyster Perpetual with the elegant design cues of a Datejust - all while Rolex through their Explorer marketing was trying to maintain the spirit of the original Explorer - hence the name collectors have given it, the "Dress Explorer."

It’s a particularly seldom seen variant: the Ref. 5501. A unique blend of rugged utility and quiet elegance, this reference combines the iconic Explorer dial with the warmth of a gold fluted bezel and riveted Oyster bracelet. It’s a hybrid watch that feels just as ready for a Himalayan basecamp as it does a candlelit dinner.

It presents in pleasing condition.

Its case presents in excellent condition with only light signs of previous polishing. The engine turning on the bezel still retains much of its detail.

Its rare smoky gray original "Explorer" signed dial is original and untouched. It is very honest with a light tropical look. Our photos couldn't do justice to its details.

Its period correct Rolex Oyster "rivet" bracelet is just short of mint with only light signs of previous polishing and virtually no stretch.

One of our Master Watchmakers, who used to be the watchmaker for an authorized Rolex dealer and was given special training by Rolex at their Beverly Hills Service Center to be an authorized Rolex watchmaker, has fully serviced the watch which consists of fully disassembling the movement, carefully inspecting each part, replacing any overly worn components with genuine Rolex parts, installing a new correct mainspring and crystal, reassembling and lubricating the movement, and extensive timing testing and regulation (a $995 value).

We have also timed it on a machine that simulates it being worn on the wrist. It is keeping time on par with a new Rolex in our testing. For the finishing touch, we have meticulously detailed it making it ready for immediate enjoyment.

Included with the purchase is a one-year international C.O.T. warranty on the movement and its function and a custom printed Connoisseur of Time Certificate of Authenticity.

This Rolex Explorer Ref. 5501 isn’t just rare—it’s evocative. It speaks to a time when Rolex was building tools for the edge of the world, but also trying to do it with unmistakable elegance. The gold fluted bezel adds a quiet flash to the wrist; the Explorer dial whispers of summits reached and boundaries pushed. If you’re looking for a vintage Rolex with a story that’s both adventurous and refined, this is your watch.

Manufacturer: Rolex
Country of origin: Switzerland, made for the Canadian market
Model: Ref. 5501, Oyster Perpetual Explorer
Case no.: 846,380
Year made: Case back is date stamped the 2nd quarter of 1962
Functions: Hours, Minutes, Sweep Seconds, Automatic
Designed for: Men
Case material: Stainless steel and 14K gold
Case condition: Presents in excellent condition with only light signs of previous polishing.
Dimensions: 34mm diameter, 12mm thick
Dial: Smoky gray with applied gold baton indexes, luminous hour dots, outer minute track, signed Rolex Explorer, original and untouched with slight tropical look. Our photos couldn't do justice to its details.
Hands: Original, gold, luminous "alphas"
Movement type: Rolex cal. 1530, self-winding, rhodium-plated, 25 jewels, straight-line lever escapement, monometallic balance, shock absorber, self-compensating Breguet balance spring
Jewels: 25 rubies
Band: Period correct Rolex Oyster "rivet" bracelet ref. 7205 with correct 6 end links, stamped 4/70, adjustable through the clasp, sized to fit a wrist up to approx. 7.75 inches on largest setting, just short of mint with virtually no stretch
Width between lugs: 19mm
Crystal type: Acrylic, mint condition
Serviced: One of our Master Watchmakers, who used to be the watchmaker for an authorized Rolex dealer and was given special training by Rolex at their Beverly Hills Service Center to be an authorized Rolex watchmaker, has fully serviced the watch which consists of fully disassembling the movement, carefully inspecting each part, replacing any overly worn components with genuine Rolex parts, installing a new mainspring, reassembling and lubricating the movement, and extensive timing testing and regulation (a $995 value).
Timing: Timed to precision on a state-of-the-art computerized system. We have also timed it on a machine that simulates it being worn on the wrist. It is keeping time on par with a new Rolex in our testing.
Warranty: 1-year international warranty. Please email concierge@cotwatches.com for details. Your watch is important to us, and we will take care of it for its lifetime. We provide the best after sale care in the business with an extremely experienced team of four Master Watchmakers all of whom each have over thirty-five years of experience and a large number of parts. As mentioned, one used to be the watchmaker for an authorized Rolex dealership and was given training by Rolex at their Beverly Hills Service Center.
Box/Papers: BOX - Connoisseur of Time watch presentation box; PAPERS - Custom printed Connoisseur of Time Certificate of Authenticity
Returns: 7 days full refund. 100% satisfaction guarantee

We offer a 100% satisfaction guarantee for all of our watches. If you are in any way unsatisfied with the watch we will fully refund the purchase price anytime within 7 days after the watch has been received. Our goal is to exceed our client's expectations throughout the buying experience.

All watches are packaged carefully and mailed double boxed in specially constructed, reinforced shipping boxes designed for high value items. All watches are sent fully insured with signature required. Most of our domestic shipping is done through FedEx. At times we will also use USPS Express Mail, and we can accommodate most requests for your preferred carrier. International shipments are sent USPS International Express Mail or FedEx.

The purchase price will be the declared value of the merchandise on any required customs forms. The payment of all customs duties, tariffs, and taxes are the responsibility of the buyer.

Also note that water resistance of vintage watches can no longer be guaranteed and is not covered under the watch's warranty. We do not recommend getting a vintage watch wet, even one that was originally designed to be waterproof.

To get an idea of how this watch will look on the wrist, please use the Watch Sizing Guide

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