Depending on the watch they might take it. Whether they have the parts that you want replaced or not....is a good question. How old is the 5508? They generally have a 30 year policy, but because the watch likely has a 15xx series movement they might do an overhaul. They are certainly far less accomodating generally than the other companies. I was just speaking with my watchmaker about this very thing yesterday. He visited the IWC factory a few years back and they had a special section in their service center where Master Watchmakers were restoring vintage pieces for their owners...Rolex does do this on occasion, but it is very limited and totally up to their discretion as to whether they will or not...generally speaking...they will not. You should write to the consumer service division and give them the information ie., serial numbers and model numbers. They will then advise you as to whether you could send it to them or not for evaluation. If they have you send it, they would make an estimate and offer you the opportunity to accept or decline. If you accept you would be asked to send a certified check for the amount of the repairs and they would begin the work. After the watch was completed they would send it back under their own insurance. I was very lucky a few years back and made a very good contact there. I had the most friendly and helpful communications from he and his staff. It was absolutely wonderful treatment. I am still amazed at how accomodating they were to me and all of my needs. This was before I actually began collecting. I had just bought an old Rolex bubbleback by chance and needed some information and an overhaul. I will tell you that there is NOTHING like factory service!!! That gentleman has since retired and now on subsequent inquiries they have been a bit less than friendly. I haven't a clue. You might get lucky. I certainly wish that they would realize the legacy they have left, and be more helpful to the collectors of their vintage pieces. This is really all about marketing. They simply would rather you buy a new watch and throw your James Bond 5508 in the trash...that is how much pride they seem to have at this juncture regarding their accomplishments and innovations of the past.

Best,