Patek Philippe Officer's Watch, ca. 1919
GUEST: It was a gift to my grandfather from the officers of the 9th Cavalry when he was their commanding officer in Fort Houston, Texas, in, I believe 1919. He was with Teddy Roosevelt, the charge up San Juan Hill. Uh, he was married to Teddy Roosevelt's cousin. Later, President Roosevelt wanted him to go to Panama Canal, and he was there for-- I don't know how long; a year, maybe two years.
APPRAISER: So he was one of the... Teddy Roosevelt's Rough Riders?
GUEST: I believe so, yes. That's what-- that's what the, the family story is.
APPRAISER: (laughs) Okay. There's an inscription on the back.
GUEST: Yes, there is.
APPRAISER: And it was a very loved watch. I mean, that-- that engraving was deep, and that's really...
GUEST: It’s been worn a lot.
APPRAISER: It’s been worn a lot. Do you know what it says?
GUEST: (laughs) Roughly, I believe it's engraved to Captain-- I believe he was the captain at that time-- James E. Shelley, from the offices of the 9th U.S. cavalry, Fort Sam Houston, Texas, in March of 1919.
APPRAISER: It’s made by Patek Philippe. It's dubbed the Officer's Watch. It's-it's called the model number eight. It's 18-karat gold. It's triple signed. The signature is on the dial, the signature is on the back of the case, and the signature is on the movement. It has what appears to be the original Dauphine hands that are all coated in radium, along with the markers, all done in radium.
GUEST: Mm.
APPRAISER: It has a porcelain dial. It's a cushion-shaped, it's a Patek band, but it's a replacement band. Patek was always one of the finest watches made in the world...
GUEST: Yeah.
APPRAISER: …and timekeeping was very important in the military.
GUEST: Absolutely.
APPRAISER: Not that there weren't other good companies that produce watches. But a Patek was the absolute finest. On the movement, besides the Patek signature, it's signed E. Hertzberg, San Antonio, Texas. They would have been the retailer that was probably within 100 and some miles of the army base where it was sold. On the case... is the case number, Patek Philippe signature, the European hallmarks. Now, this model came with a porcelain dial, which this has. It also came with a painted dial. Unfortunately, because the radium is radioactive, and it would've-- it would have, uh, over years, where-where the hands were sitting, would turn dark, and where the numbers were would start to turn dark all around it.
GUEST: Uh-huh.
APPRAISER: But the porcelain dial is inert, so the dial is literally in mint condition, and most of the radium is still there. In the marketplace, in the retail level, a watch with a very good Army history...
GUEST: Mm-hmm.
APPRAISER: …along with it being Patek, would probably be retailing in around the $22,000 to $25,000 price range.
GUEST: $22,000 to $25,000? (deep breath) That-- that's a surprise. (chuckling): But it's a... it's a pleasant surprise. It'll stay in the family; it'll go to my son.
APPRAISER: If you were insuring it, I could easily see that a-a retail appraisal could be at $30,000 to $35,000.
GUEST: Okay.
APPRAISER: But, if it was gone, then, you're not going, you're not-- there's no, never replacing...
GUEST: (laughs)
APPRAISER: …your grandfather's watch.
GUEST: Right, no, you can't.
$22,000 Retail
$35,000 Insurance
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Understanding Our Appraisals
Executive producer Marsha Bemko shares her tips for getting the most out of ANTIQUES ROADSHOW.
Value can change: The value of an item is dependent upon many things, including the condition of the object itself, trends in the market for that kind of object, and the location where the item will be sold. These are just some of the reasons why the answer to the question "What's it worth?" is so often "It depends."
Note the date: Take note of the date the appraisal was recorded. This information appears in the upper left corner of the page, with the label "Appraised On." Values change over time according to market forces, so the current value of the item could be higher, lower, or the same as when our expert first appraised it.
Context is key: Listen carefully. Most of our experts will give appraisal values in context. For example, you'll often hear them say what an item is worth "at auction," or "retail," or "for insurance purposes" (replacement value). Retail prices are different from wholesale prices. Often an auctioneer will talk about what she knows best: the auction market. A shop owner will usually talk about what he knows best: the retail price he'd place on the object in his shop. And though there are no hard and fast rules, an object's auction price can often be half its retail value; yet for other objects, an auction price could be higher than retail. As a rule, however, retail and insurance/replacement values are about the same.
Verbal approximations: The values given by the experts on ANTIQUES ROADSHOW are considered "verbal approximations of value." Technically, an "appraisal" is a legal document, generally for insurance purposes, written by a qualified expert and paid for by the owner of the item. An appraisal usually involves an extensive amount of research to establish authenticity, provenance, composition, method of construction, and other important attributes of a particular object.
Opinion of value: As with all appraisals, the verbal approximations of value given at ROADSHOW events are our experts' opinions formed from their knowledge of antiques and collectibles, market trends, and other factors. Although our valuations are based on research and experience, opinions can, and sometimes do, vary among experts.
Appraiser affiliations: Finally, the affiliation of the appraiser may have changed since the appraisal was recorded. To see current contact information for an appraiser in the ROADSHOW Archive, click on the link below the appraiser's picture. Our Appraiser Index also contains a complete list of active ROADSHOW appraisers and their contact details and biographies.
