USAF Vietnam vet orders and buys a Rolex in 1975 and he never wears it....He orders it through base exchange and gets it months later.

He keeps all paperwork, warranty, box, receipts and just buys another watch to wear and puts this in a safe deposit box. He finds out how much it's worth.

If you haven't see this, can you guess how much it's appraised for?

What Model?
I bought this one in Hong Kong through the Navy.
That would be the U S Navy Purchasing Dept,
China Fleet Club Building.
The Vendor was Artland Watch Co. Ltd.

Attached Images

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NRA LIFE MEMBER

It's a Daytona variant, "Oyster Cosmograph".

US military exchange stores in Southeast Asia were operated by PACEX (Pacific Exchange), retail outlets at major military bases and a catalog order service generally available to all of us.

Rolex watches were popular, but the prices left most of us wishing we could afford one ($300-plus). In context, I was promoted to Sergeant E5, US Army in 1970 with base salary of $248.75 per month. Combat pay in Vietnam added $65 per month. Overseas pay was $30 per month. Married troops were allowed $17 per month as family separation allowance. While in the combat zone all pay and allowances were tax-free.

I chose to purchase the Seiko 5 Automatic, about $18 through PACEX at the time. Shrapnel turned that into scrap metal (didn't do my hand, wrist, and forearm much good either) so I later ordered a Seiko chronograph automatic for about $32. In GI parlance Seiko was the "Timex of Southeast Asia".

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Life of the party until 8:00PM

Better than Paul Newman's.
What a fine story.

Humble man as well. Happy to see him have it.

The PX in Tay Ninh, 1969, had the solid gold Rolex (don't remember the model) for ~$600. That was a little more than my monthly pay as a WO-1 w/flight pay and combat pay. Had I known what it would be worth some 50 years later, well I probably would have worn it any way.

Dumb luck, watches aren't investments.

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Dave Ramsey Cultist

Loved the fall...guys in good shape. That kind of money for a watch is just insanity! Time to cash that baby in and get a shave and a haircut (kidding!)

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My Daddy was a pistol..

A guy I served with on the police department bought two Rolex’s while he was in Vietnam. I knew he wore one daily. I think he might have sold the other one at some point. I remember being amazed by what he had paid.

That's a great story! Happy for him.

Part of the story was "IF" he had worn it the value would have dropped in half.

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H Richard
SWCA1967 SWHF244

At the end of the day it's just another, over priced gray market Rolex he'll never find a buyer for.
Might as well wear the ol' beater?

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Dave Ramsey Cultist

Later in the comments it said that he sold it for $1.3 Million.

Do I detect a touch of sarcasm?

Something deep in my bones tells me that he will do good things with that money. I, too, am thrilled for him.

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Music/Sports/Beer fan

Me as well...I feel good for the guy... He had enough forethought to keep it all together and happened to buy the exact right model at the right time and then just time capsuled it...Now he's getting paid and he earned it just by patience alone.

When I was in Vietnam most of my paycheck as a Captain went to my wife who was taking care of our two little kids. I kept enough to pay for smokes and beer and occasional poker. I knew if I lost my money it would not impact upon my family. After a few months my poker winning allowed me to buy some stereo equipment and a few rings for my wife. I then considered a Rolex, which if I recall was about $175 or just about the same cost of a good camera. But I wanted the camera more and bought a Pentax. I've often thought how much better off I would have been if I had bought the Rolex.

In the late 70's, one of my Army friends who had bought a Rolex needed to get the crystal replaced because he was badly scratched, making it hard to tell what time it was. He took it to a Rolex dealer in NYC and that new crystal cost him far more than the watch had originally cost.

If I owned a Rolex now it would be sitting in the back of dresser drawer. I would be wearing the Apple Watch that I use everyday.

I fell like a pauper now with only a Speedy Pro.

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Only a cold warrior

Cigarettes in Vietnam PX stores were $1.90 per carton (10 packs). Beer was $2.40 per case. Most popular liquor brands were $1.90 per quart. Everything tax-free, of course.

Every soldier had a ration card allowing 4 cartons of cigarettes per month, and either 4 cases of beer or 4 bottles of booze. The emphasis was on eliminating black market activity. Needless to say, the non-smokers and non-drinkers kept up a brisk trade in ration card allowances.

Each C-Ration meal contained a 4-pack of cigarettes; no choice, Marlboro, Winston, Pall Mall, Salem, Kool, Chesterfield, etc by luck of the draw.

Most of the larger (base) camps had clubs for enlisted men, NCOs, and officers. The major headquarters areas had serious clubs, real big-time nightclubs with touring bands, live entertainment, etc. One of the biggest publicized scandals of the time involved the club operations and huge amounts of funds disappearing.

I Corps Headquarters in Da Nang included a huge club complex covering a couple of blocks, fancy hotel, nightclub, steaks and prime rib dinners, private party suites, you name it. I'm sure there were others in other command areas.

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Life of the party until 8:00PM

High end watches (Rolex, Patek, AP, et al) appreciate over time and outperform the stock market.

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Kevin Williams SWCA1649 HF208

No, actually I was being serious. How stupid does someone have to be to pay over a million for a used watch that didn't belong to anybody famous?

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Dave Ramsey Cultist

No, not really.

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Dave Ramsey Cultist

Right now my Rolex is in a safe.
I have an iPhone in my shirt pocket.
Don Williams was living on Tulsa Time.
I’m living on Boulder Time.
The National Atomic Clock is located in Boulder.

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NRA LIFE MEMBER

He was a bomb disposal technician in Vietnam. He deserves it !

Terry

Yes, really. This gets even more dramatic the longer you go back.

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Kevin Williams SWCA1649 HF208

I think the article reported he was a USAF ordnance worker in 1975, describing some removal work. The last US military forces left Vietnam in the spring of 1975. Thailand is another country, also in southeast Asia but not part of the combat zone.

Some USAF units were located in Thailand, notably the B52 bomber force, and flew mission into Vietnam in support of the war effort.

Thailand remained at peace. Bangkok, the capitol, was a popular destination for GIs on R&R leave from Vietnam.

I'm not taking anything away from the veteran. Like just about all of us, he went where he was told to go and did what he was told to do.

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Life of the party until 8:00PM

Yes Patek's can go up, Rolex and Omega can go up, guns can go up, but I wouldn't count on it as an investment tool.

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Dave Ramsey Cultist

True, but I also wouldn't count using "cash stuffing envelopes" as a investment tool either like a well known financial advisor advocates.

Great story > Glad to hear he got a tidy amount of money for it!

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Still Running Against the Wind

Wow! Couldn't happen to a nicer guy!


,

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Death? Smile back...

I bought a Seiko for $17 in 1970 and still have it. I worked as a veteran's counselor after I got out and I was always able to spot the guys from SE Asia as soon as they walked in the door. They wanted to know how I could tell and I would say "Seiko".

Seiko's had a choice of colors for the dial and I chose the bright blue. I a glad I did. I don't wear it much as it is so big. I haven't worn a watch since I retired 17 years ago.