Rolex Day-Date President Watch, ca. 1962
Watch
GUEST:
This is a Rolex Day-Date model. I bought it in 1964. It became known later as the Presidential model when Lyndon Baine Johnson got one as a gift, and his was the 18-karat gold plate. And...
APPRAISER:
And where did you buy it?
GUEST:
I bought it in Hong Kong. I had been drafted into the Army, and I was in Korea. During a tour of duty in Korea, you got one week R&R, either Tokyo or Hong Kong. My wife at the time and, uh, I met in Hong Kong, and she bought this for me as my birthday present.
APPRAISER:
And do you remember how much it cost at that time?
GUEST:
They asked me, says, "How much did you make?" And I gave them a number, and they says, "Well, this watch will take three months of your pay." I think it would be probably about $1,000 in those days.
APPRAISER:
And what made you pick this particular model?
GUEST:
I had wanted the 18-karat yellow gold model, but they were out of stock.
APPRAISER:
You took very good care of it. This is crisp. It's clean. How often did you wear it?
GUEST:
Probably three or four days a week.
APPRAISER:
We have what a lot of people threw out and nobody saved. You have the original timing paper. It's got your serial number for the watch. Over here, you have the little catalogue that came with the watch. And you've got the original box. Tell me what you know about that box.
GUEST:
It's ostrich skin box. As I went back to duty in Korea, Japanese put a customs seal on it. I was going to a different airport in Japan, and they said, uh, "Don't break that seal, because if you do, you'll have to pay duty to the Japanese." So I was very careful and didn't break the seal. (chuckles)
APPRAISER:
And here you have the hang tag and the little Rolex oyster hang tag, also.
GUEST:
Uh-huh.
APPRAISER:
The stamp on the paper here shows us that it was timed in 1962. And you bought it when?
GUEST:
In '64.
APPRAISER:
It's not uncommon for a watch to leave the Rolex factory in Switzerland, be shipped somewhere in the world to the retail store, and it could sit there in the showcase for a year to two years.
GUEST:
Oh.
APPRAISER:
This is 18-karat white gold. White gold fluted bezel. This is called the pie pan dial.
GUEST:
Mm-hmm.
APPRAISER:
It's a silver satin dial with raised markers. You have the Presidential-style bracelet. We see maybe 50 yellow gold ones to every one white gold one. The production was far lower. In terms of the value, any idea?
GUEST:
Might be a few thousand dollars.
APPRAISER:
This foil oyster-shell-looking hang tag, collectors are crazy for those because everybody threw 'em out. These by themselves are worth $500 and up...
GUEST:
Oh, my! (laughs)
APPRAISER:
...just for that.
GUEST:
Just a little piece of foil.
APPRAISER:
That's right. In today's market, because it's a whole, complete set and the watch is in such great condition, a retail price on this is going to be $20,000.
GUEST:
Oh, my. Well, I kept up with the times. (laughs) Oh, I'm glad to hear that. Wonderful, thank you. It's great-- good news. (laughs)
Appraisal Details
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