Hello Tom,
Thank you for sending in this family wristwatch to mearto.com for an appraisal. I shall try to help you with that today. Thank you for sending in the photo of the inside of the cover and the movement. It all fits together nicely now and the values are appropriate. I have updated the appraisal for you to include all extra information.
TITLE:
Gent’s, 14K yellow gold, manually wound, small seconds, dress wristwatch with Presentation and mid-20th century gold plated flexible link bracelet, ref. 230C317, S/N 355 438, made by Jaeger LeCoultre, Switzerland, circa 1957.
PROVENANCE:
“Owned by my late father, has never been exhibited.” Inscription on back cover reads, “" Dan O'Brien from Your Associates at Atlantic Rayon Oct. 1957.”
DESCRIPTION:
Case: (Size not provided) Approximately 33mm in diameter (without crown), two leaf, with snap-on case-back, the back cover with the inscription cited in the Provenance above and marked 14K gold. The back cover has a tab to allow easier opening and is usually marked on the inside with the maker’s name, reference and case numbers. The inside of the cover often had ‘Cased and timed in U.S.A.’ engraved as well as the case serial number and the model number (noted above). The winding crown is partially buried in the gold bezel as seen in the LeCoultre Ref. 199.
Dial: Cream colored round dial with applied gold baton hours, double baton at the twelve position, subsidiary seconds dial @6, and gilt Feuille hands with the upper dial signed ‘LeCoultre’.
Movement: This is the JLC calibre 480/CM , a manually wound, 23.7mm diameter movement with 17 jewels, vibrating at a frequency of 18000 beats per hour. The movement is signed LeCoultre, 17 jewels, Swiss, and unadjusted. It is also marked vXN, that is the import/exported mark for the company that exported this watch from Switzerland and VXN stands for Vacheron & Constantin. Very often these upper end watch companies will work together in moving their brand watches out of the country.
Condition: Case – Mild scratches to the gold case. Dial – Fair-good with scattered speckling of oxidation and staining. Movement – Assumed original, genuine and it is functional.
COMPARABLES:
https://www.liveauctioneers.com/item/87065530_lecoultre-men-s-14k-gold-manual-hand-wind-dress-watch (Failed to reach $2500 minimum and was passed.)
https://www.liveauctioneers.com/item/60176654_men-s-lecoultre-14k-gold-watch (Condition prevented this watch from reaching $250 and was passed)
https://www.liveauctioneers.com/item/74141960_vintage-1960-s-lecoultre-14k-gold-fancy-lug-watch (sold for $450 on 2019)
https://www.liveauctioneers.com/item/63175860_17-jewel-jaeger-lecoultre-mens-watch-14k-gold (sold for $1000 in 2018 with a gold bracelet)
https://www.barnebys.com/realized-prices/lot/jaeger-lecoultre-18k-solid-gold-mens-watch-1950-s-wtZ8ZPRRWq (1950s 18k gold dress watch sold for $1349 in 2016)
https://www.invaluable.com/auction-lot/mens-vintage-14kt-yellow-gold-lecoultre-watch-111c-c-3f9478cba8 (sold on 2018 for $800)
HISTORY:
In the heart of the Vallée de Joux, in the Swiss Jura Mountains, the Manufacturer Jaeger-LeCoultre has continuously renewed its creativity and inventiveness since 1833. One hundred and eighty different expert skills are brought together under one roof, to breathe life into the heart of the watches and to animate each infinitely small component. Design, assemble, decorate or crimp; every different stage required for the creation of a Jaeger-LeCoultre timepiece is conducted within the Manufacture. Since the beginning, the Maison has created more than 1200 calibers, which today have earned it unique renown in the watchmaking industry. Its iconic collections, such as the Reverso which was born of the Art Deco movement in 1931, the Master, with classic and refined masculine lines, or even the Atmos, the pendulum watch with almost perpetual movement, form the foundation for the Manufacturer's pride and the satisfaction of their loyal clients.
PRICING:
Of course, this watch is not priced for sale on the gold market (which would destroy the watch). Rather it is priced as if offered on the watch market.) The price of gold, near record levels now, does influence the price. In this condition, generally considered good, your dad’s vintage watch with the Presentation inscription would have a fair market value in the range of $1000-$1250 with a retail value about twice that amount.
Thank you again for choosing mearto.com.
My best,
David

Dear Tom,
Thank you for contacting Mearto with your appraisal inquiry. So that I may best be of assistance and get this right the first time around, it would really help me to see the inside of the cover. I only ask this because it is a flip open back cover and manually wound, so it is made to be easily opened.
Can you send me photos of the inside of the back cover and also the movement, but in good enough resolution that I can read it (having trouble with your other photos, but they are good enough).
If you are unable to do this I can appraise the watch and guess at the movement, but I really think we should do this the right way the first time.
Please let me know whether to wait for photos or proceed.
Thanks,
David