Ebel is a great watch, respected by those who know watches, and has already given a lifetime of service. It is 14 carat gold, and has a history. That makes it valuable. To trivialize that is to discredit the years he put in with that company, and the appreciation they showed for his time there. Remember, no employer owes anyone more than they agreed upon during the tenure at that company, so the fact that they gave him a great gold watch is significant. New Ebel watches sell for $8,000 or more for all gold cases like that. Stainless Ebels sell for $2500-3000. It should be sent in for cleaning, adjustment, and new o-rings at the very least.