The market understands now the outstanding position of the Rolex King Midas, 1st series (reference 9630): one of the most extraordinary and exclusive vintage Rolex at all and the most endangered one with its ~200g gold.
Ladieswatches are in general a bit overlooked so far, but I am sure this will change now (for 2026 see here: *klikk) and so the two even more special & rare & excelling Rolex will get some attention: the Queen & the Princess Midas -- see the original 1962 magazine-advertisement. Yes, one reason they are overlooked so far is they are so rare -- lets face it: most important Rolex collections have several Daytonas but not either of these, Queen OR Princess, let alone both. Why? Now, Rolex made just ~30pcs of the Queen ref9904 and even less, just ~20pcs, of the Princess ref9903. All these were done approx 60y ago between 1961 - 1963 when gold was cheap and fixed at USD35 per ounce. And there was some gold necessary to manufacture (completely handmade!) them: ~200g for the Queen and ~150g for the Princess.
This is the reason that both of these are much more sculpted / blockier / three-dimensional than the original King ref9630: the King weights 200g and measures 28mm, the Queen comes in smaller (23mm) but of course had to receive the same (!) amount of gold: 200g as well and so it is much thicker than the King. The Princess (ref9903) is the rarest & smallest (19mm) and slightly lighter with around 150g, but comes in with the same extraordinary thickness & sculptural appearance. Important, outstanding & rare Rolex? Yes, and a masterpiece in design as well.
About the serial-numbers: these were inserted in the Midas-series serial-number before (!) the King Midas even reached these serial-ranges of 5XX for the Queen and 7XX for the Princess. I have handled several (not many, single digit number) of these in the last +10y and I am sure the Princess' serial starts with 760 and the latest I have seen is 788. They ALL (!) were made in 1961 and 1962 and I am sure there is no later than 1962 and none with a serial >790. This leads to my assumption of in total <30pcs (20pcs) made and just a fraction (25% - 30%) in 18K-whitegold. But even these 20pcs is probably a too optimistic (high) guess, as it seems like there were several King Midas (ref9630) sprinkled in these 20 serial-positions: we know the #783 (King Midas, ref9630 made in 1972), and some others (at least three Kings ref9630 with #77X made in 1972) in this range.
Anyway, the Queen (ref9904) had a pre-assigned range of serials in the 500s and was made as well between 1961 - 1963. The lowest serial I have seen is 504 and highest is 540 but there are also several later (1970 & 1971) King Midas sprinkled into these <40 serials. So I think we can assume that no more than 30 ref9904 Queen Midas were made with whitegold being the exception of <10pcs. Probably less.
Needless to say that next to these very low manufacturing (!handmade) numbers a significant fraction of these were smelted: it was far away from being in-trend in 1980 with a buyingpower-adjusted goldprice significantly higher than today. And that does not go together well with its weight of 150g / 200g...
The market-appearance of the Queen is rare as one expects from the production numbers: less than a handful in 10y. And the Princess appears even less often: There was one sold by Christies in 2006 and one sold by @Goldberger -- thats (almost) it. And that is probably the real reason why so many Rolex-collectors and the "King" dealers in Rolex embarrassingly circumvent these special Ladies-Rolex: please go on; there is nothing to see.