Hodinkee article on antiques road show Rolex find

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Antiques Road Show Features Man Who Bought Rolex Oyster Paul Newman For $345.97 In The Early 70s And Never Wore It
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Insane. The owner doesn't strike me as a very material guy—the kind of guy who either gives it all away to charity, or vanishes from the face of the earth after cashing in. Regardless: good on him.
 
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What bothers me most about this is the fact that at the time, you could buy a Daytona with about a months salary as an enlisted soldier in the Army- which I just looked up and is currently around $2-3k/mo depending on rank and seniority. My old boss bought his 1675 GMT in 1962ish for $150, brand new at the AD- he made around $400/mo at the time and thought he was doing pretty well. The cost/salary ratio's are all screwed up now...but that's for another thread.

I seriously hope this dude sells it for $1m and enjoys his golden years to their fullest.
 
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Insane. The owner doesn't strike me as a very material guy—the kind of guy who either gives it all away to charity, or vanishes from the face of the earth after cashing in. Regardless: good on him.
I think this also speaks to how Rolex was viewed back then versus today- it was a status symbol, but one of quality and precision, not necessarily wealth. My boss bought his GMT not because it was expensive (it was to him but not outragous), but because he actually traveled internationally for business and wanted the GMT feature- it was a tool. Sure, their precious metal watches were expensive, but their tool watches (like the Airking, Explorer, Submariner, GMT) weren't horribly more expensive compared to other quality brands of the time.
 
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What I can't comprehend is someone buying a watch and realizing the watch is too nice to use for scuba diving but also too nice to wear. Has me wondering what he was thinking when he stored it in a safety deposit box and all the years up till now.
 
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I think this also speaks to how Rolex was viewed back then versus today- it was a status symbol, but one of quality and precision, not necessarily wealth.
FUDGE YES to all of that. What bugs me about the vintage steel Rolex craze is that their original status as tools seems completely immaterial now. You'd be crazy to actually wear a steel 1970s Daytona outside of the house these days, even though these are well engineered, sturdy, durable pieces of equipment that are at the same time remarkably accurate. I guess that's why I like Sinn so much as a contemporary brand—it's pure functionality with them, as if the quartz crisis never happened. Granted, they are not engineered as well as Rolex, but do capture Rolex' tool status of the past, for much less than my month's salary.
 
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If the guy was truly out of touch with the watch world i wonder what he had in his mind about the value of his Rolex. He obviously knew it had some value or he would not have gone. Maybe he was thinking 50-100k? I can’t tell in the picture if he is wearing a watch. Quite an odd story. I hope he enjoys it and uses some of the proceeds to buy a decent watch he can wear and enjoy.
 
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Are we sure that's not Jeff Bridges, you know The Dude! Cool story though!
 
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again, prove the point that these watches are not rare but one in such condition is probably hard to come by
amazing story regardless. I hope the guy gets paid big money
 
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again, prove the point that these watches are not rare but one in such condition is probably hard to come by
amazing story regardless. I hope the guy gets paid big money
That’s what kills me about the used market- Rolex’s have been made in the millions (although LNIB with stickers, boxes and all paperwork is indeed a rarity)- but not rare in terms of production numbers. But like everything vintage in the watch world- demand seems to exceed supply. Makes me wonder if it’s the allure of having something vintage or ambivalence with what’s being currently being offered (not just with Rolex).
 
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Sure, their precious metal watches were expensive, but their tool watches (like the Airking, Explorer, Submariner, GMT) weren't horribly more expensive compared to other quality brands of the time.

I seem to remember some older collectors saying that back in the day Omegas were selling for the same or higher than Rolexes. probably depended on the models but interesting nonetheless.
 
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I seem to remember some older collectors saying that back in the day Omegas were selling for the same or higher than Rolexes. probably depended on the models but interesting nonetheless.
My dad often laments how nobody would go anywhere near Daytonas well into the 1980s, pawn shops would refuse to take them and how you'd be able to get them for cheap everywhere. So pretty much like vintage Cellinis these days...
 
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Someone recently posted an advertisement from the 60’s saying we will buy your Rolex (no Daytona’s). I wonder if the anti-Daytona attitude was because of possible service issues or just a lack of consumer interest. Tastes do change.
In the late 90’s/ early 00’s, nobody wanted 70’s- 90’s GMT’s- they were dirt cheap- but contemporary subs were $1k more on the used market at the time.. a whopping $3k!! If we had only known
 
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alot of wear on that decal for never being worn,
There is a difference between being worn and trying it on your wrist. Also, if it was tried on by several people before being sold, the skin oil over time might have something to do with it, let alone sitting for 50 years in a safe deposit box with possible humidity......or he might have worn it a bit and was extra careful.