Army vet 'passes out' on Antiques Roadshow after learning the real value of his $345 Rolex from 1975

A US Army veteran was knocked off his feet after learning the true value of his Rolex bought in 1975. David bought the 1971 Paul Newman Rolex Daytona for $345, or about a month's salary, as per Forbes . He brought the item on an episode of the PBS series Antiques Roadshow held in Fargo, North Dakota, thinking it may be valuable. However, he was literally floored after the expert appraised the watch up to $700,000.

A fascination with Rolex watches

Appearing on the show, David shared that he worked in the army, he was stationed in Thailand. He said he often flew during that time and was fascinated by the Rolex watches that the pilots wore. But since they were very expensive, he waited to get one.

Finally, when he was transferred to a new base, he says he had to do a lot of scuba diving. This gave him an opportunity to buy the watch as he had heard that Rolex watches are good for scuba diving. He found a watch that he could afford but didn't wear it at all as he thought it was too nice for the salty water. Thus, the watch sat in a safety deposit for 30 to 40 years, unworn and preserved, he shared.

The appraiser on the show pointed out that David had saved everything from the purchase. He had the order receipt, the final receipt, the unfilled warranty certificate, and another unfilled document.

The expert said that the unfilled documents themselves would sell over $2,000 as people could fill them out and add value to some other Rolex. The owner also had the original box and the outer box of the watch.

The expert then went on to show that it was an Oyster model which was better than other waterproof models as it had screw-down buttons. Astonishingly, the watch even had the foil sticker at the back with the reference number, proving that it was never worn.

He added that the watch was particularly popular among collectors as it was worn by actor Paul Newman in the racing movie, "Winnings".  He said that it wasn't the same model as it didn't have the screw-down buttons and those models were going for about $150,000 to $200,00 at the time.

However, despite the watch not being the Paul Newman model, the expert says it was more special. He says the company made only a few Oyster models. Thus, the expert claims that such a model could go for about $400,000 at an auction. Hearing this, David dramatically falls to the ground making everyone around him concerned.

As he gets back on his feet, the expert requests him to not fall over again, as he is about to reveal something more astonishing. The expert says that David's watch was one of the rarest in the world due to its pristine unworn condition and all the documentation. He then says that the watch could go for anywhere between $500,000 to $700,000 at an auction.

Forbes estimated the value to be in the correct range as the Rolex Daytona is one of the hottest watches on the secondary market. As per the publication, the actor's own Paul Newman Daytona sold for $17.7 million setting the record for the highest price paid for a watch at auction.