[Laco] Reference on this + Servicing?

Can anyone help me with a reference number of this watch or some online information? Is it rare, what would anyone pay for it and should I service it?

The dial says Laco - Automatic 570. I know Laco is a German brand and from what I can find this watch seems to be from 1950-1960. Any more information on this is greatly appreciated. Should I send it to Laco to get a full service?