Buying A watch
He bought this watch when he was in the service, stationed in Thailand in 1974. He wanted a watch he could scuba dive with and knew watches like this one would hold up well, so he spent his entire monthly salary on it - a cool $345.97.
He took his prized possession on to the television show Antiques Roadshow to see how much it could be worth. Never in a million years did this United States Air Force veteran think that his barely worn watch be worth so much.
Not Just Any Watch... A Rolex
He was a veteran who spent his service in Thailand in the 1970s. During his time there he saw that the commercial airline pilots wore Rolex watches. He thought that because they were wearing them that it must be a good brand.
It was because of them that he decided that he would buy one for himself when searching for a good diving watch. He ordered himself a Rolex Oyster Cosmograph from his base exchange.
Barely Wearing It
For him, spending $345 on a watch was pretty much his entire monthly salary. The price doesn't sound like much today, but in 1974 that was a serious expense.
He ended up getting the watch but deciding that it was too nice to actually go diving in it. He didn't want the salt water to ruin it. By doing so, he kept the watch in much better condition, which would inevitably change his life...
Kept Safely In A Box
Today, this veteran lives in North Dakota, where an episode of Antiques Roadshow was going to film. He drove to Bonanzaville in West Fargo, to have his watch appraised. He knew now that a Rolex was a luxury brand and that his watch was probably worth more than he bought it for.
He wore the watch three times since he had bought it. The rest of the time the watch was safely in a safety deposit box where it would sit along with its original documentation and packaging.
Taking It Out To Check Its Worth
He finally came to the conclusion that his watch was doing him no good just sitting at the bank, so he decided to take it and see how much it would fetch at auction. Antiques Roadshow was his appraiser.
He was nervous about being in front of the camera as the inspection of the watch and the documents took place. The sun was on him too, which made him break into a nervous sweat.
The Rolex Is An 'Oyster'
As he was standing in front of the appraiser, with the cameras on him, the man started talking about the watch that was in front of them. The timepiece is known also as the Rolex Daytona. Watch collectors everywhere covet this item.
He was told that the fact that the face of the watch denoted the word "Oyster" on it, made this watch that much more valuable and rare. He could feel butterflies in his stomach at the word "rare", knowing it was a good sign.
Reference 6263 Foil Still Intact
Because he never really wore the watch, the foil label on the watch's back was still there, noting the reference number of 6263. Normally, if he wore the watch more, the foil would have rubbed off and shown signs of wear.
This was proof that he barely wore it. He was listening to the appraiser as he was going through the various elements they look for when they try to figure out how much a watch is worth, and noticed something...
Made In 1971
The appraiser was getting just as excited as he was when confirming the rare and valuable parts of the watch and documents bit by bit. Another element was that there was an engraved 1 and 71 on the inside of the watch, marking that it was made during the first quarter of the year 1971.
He bought the watch three years later in 1974. Not only was his watch vintage, but it was also in amazing condition. The appraiser kept on going though...
Paul Newman Wore The Same Kind
The Antiques Roadshow host and appraiser said that collectors everywhere coveted this watch even more because legendary actor Paul Newman wore it in the film Winning. Put anything on a celebrity and the value and desire for it go up immediately; it was true then as much as it is today.
He never saw the movie but when he heard that Paul Newman wore it he felt even more impressed that he got the very same watch.
He Got The Watch At The End Of His Vietnam War Service
As this was going on, he couldn't help but think back on his time in the Air Force. He was stationed in Thailand from 1973 to 1975. His time overseas was monumental for him and helped shape who he is today.
He was number seven in the draft of 1971 when he enlisted in the United States military to aid in fighting the Vietnam War. The appraiser was stunned that he was number seven in the draft, as that was thoroughly unlucky.
His Air Force Days
Being in front of this appraiser with his watch out in the open, brought him back to his days in the Air Force where he was in munitions, in explosive ordinance disposal.
He shuttered at what that actually meant, which was "helping to clear roads of land mines, munition storage areas that had been blown up or sabotaged" that needed to be cleared. He recollected that there were multiple children and adults that were injured as a result of unexploded materials.
He Actually Got A Discount On It
Happier memories were when he ordered his watch in November 1974 through the base exchange, and finally getting it in April 1975.
He was so proud to have found the watch at a price he could afford thanks to a 10% discount he got from the shop. $345.97 was still a lot of money, but he knew a Rolex was worth the expense and that a price like that is definitely a good deal.
The Documents Were Left Blank
As he stood there listening to the appraiser speak about the watch, telling him things he never knew mattered about the timepiece, he was getting more and more anxious about how much his watch was worth.
The appraiser went through the watch details, the documentation that he had, and the fact that everything was not only in pristine condition, but that even the documents were left blank which makes them valuable on their own. So how much was all of this worth?
Stunned Into Silence
The appraiser was finally getting to the good part. He could barely handle the suspense anymore! As he finished going through everything, the appraiser told him that these watches in auction go for $150,000 - 200,000!
He just stood there quietly, not really sure how to react to the fact that his $345 watch goes for $200,000. He was stunned into silence. But before he could collect his thoughts, the appraiser continued...
It's Worth More Than That?!
While a watch like this one goes for $150,000 - 200,000, his watch was "more special." The fact that the watch's face says "Oyster" on it, makes it much more rare and valuable. Rolex did the "Oyster" addition for a very short amount of time, making it that much more rare than all other Rolex watches of that time.
He started feeling light headed as the appraiser continued, does this mean that the watch is worth more? How much more? This is something out of a movie.
Collapsed
The appraised went on to say that a watch 'like' this, would go for about $400,000 at auction. It was at this point that he just couldn't take it anymore and fell to the ground in sheer excitement and shock.
How could this be? He thought to himself, he was sitting on top of a treasure for over 40 years! Unbelievably, though, there was more!
Oh, There's More...
He got to his feet as people around him were getting concerned, and as he did so the appraiser continued in his, well, appraising. While a watch 'like' this goes for $400,000 at auction, his watch was even more special.
More special? How was his watch more special? He was about to figure out the true value in letting something just sit safely in a box for years without letting the elements or wear deteriorate it.
$700,000!
Because his watch had no real wear on it, had the original foil on the back, was an Oyster, and had all of the original documentation with it, the total worth stood at $500,000 - 700,000!
He continued to stand this time, but stood there stunned for a few seconds before he said "you've got to be kiddin' me". To which the appraiser responded with, "no, I'm very serious."
His Watch Just Changed His Life
The appraiser went on to say that this is the best version of this watch in the word, he thinks. He thanked him for bringing this great find to him. This was probably the only unworn version of this watch to find its way to auction.
He felt the electric excitement of what this meant for him, his life was about to change. No more worrying about making it to the end of the month or pinching pennies. His Rolex had just changed everything for him.
A Little Tip...
The next time you have something of value just sitting around, go get it appraised, you may be surprised as to how much it's worth. This veteran was stunned into collapsing when he discovered that he was sitting on a fortune.
His military service during the Vietnam War was something he had tried to put behind him, but if it were not for his time in Thailand, he wouldn't have wanted to get himself this Rolex, so there's luck in all of this after all!