The value of an Elgin watch with the serial number FM502-017 would depend on several factors, including the age, condition, and rarity of the specific model. Elgin watches are known for their historical significance and craftsmanship, which can influence their value among collectors. To determine an accurate value for this specific watch, it would be best to consult with a reputable appraiser or watch expert who can assess its unique characteristics and market demand.
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