The warranty card that came with mine quotes the watch as a ref: 48403100, which somebody on the forum said was stainless steel. Curiously the watchmaker who recently serviced this listed the reference as ST1450050, so perhaps somebody can clarify this. I just Googled that and the examples I found indicated a white gold bezel.
In terms of water resistance they are supposed to be good for 30m, assuming fresh seals. In practice I would stay well away from water, but I feel that way about all watches, especially vintage. Frankly I would just keep it away from water to minimise the risk of damage and in any case it will ruin a leather strap at the very least.
I believe a lot of these watches have never been serviced, but a good clean and some fresh oil can work wonders. The 861 is a legendary workhorse, but this does lead some to run them for decades without a service. As always, if you intend to use the watch and don't know the history, then a service is recommended.
Find somebody capable, because the worst thing that can happen to a good watch is a bad watchmaker. Given reasonable treatment you have a watch that can last a lifetime and look great in the process.
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