Man Collapses After Finding Out ‘Never-Worn’ Rolex He Bought for $349 Is Worth More Than $400,000

An Air Force veteran was in for the surprise of a lifetime when he learned that a Rolex watch he purchased over four decades ago for a few hundred bucks is now worth more than $400,000.

The unidentified man discovered the shocking news about his 1971 Rolex Oyster Cosmograph from appraiser Peter Planes on this week’s episode of Antiques Roadshow.

Speaking to Planes, the man explained that he purchased the silver Rolex watch when he was stationed in Thailand from 1973-75 after noticing that many airline pilots were wearing them.

It wasn’t until he was transferred to another base and started scuba diving that the man said he learned the Rolex watches were good in the water and decided to go through with the hefty purchase.

In November 1974, he ordered the Rolex through the military base exchange for $345.97 with a 10% discount. The man explained that it was a lot of money at the time, as most monthly salaries were between $300-$400.

By April 1975, the prized watch had finally arrived — but the veteran said he couldn’t bring himself to wear it as intended.

RELATED: Rapper Bhad Bhabie Gets $42,000 Diamond-Encrusted Rolex Watch for Her 16th Birthday

“I found this particular watch where I could afford it and I never used it,” he explained on the PBS show. “I looked at it, and I said, ‘This is really too nice to take down in salty water.’ I just kept it.”

Over the next 30-40 years, the man said he kept the watch inside a safety deposit box, only taking it out “two or three times to look at it, but that was about the extent of it.” He also managed to keep its warranty paper with a “blank guarantee,” as well as the paperwork, receipts, and original box.

Taking this into consideration, Planes said the watch was likely to be worth at least $400,000, due in part to its face having “Oyster” written on it, an extremely rare feature he said was a “mark to dial.”

Planes also noted that a similar model of the watch was worn by Paul Newman in his 1969 movie Winning, and currently goes for $150,000-$200,000 at auctions, which makes this one even more special.

RELATED VIDEO: Stroke Of Good Fortune: Picasso Painting Sells For Record $179M

After hearing his watch was worth thousands, the man jokingly collapsed next to Plane, showing his disbelief over his prized possession.

“You ok?” Planes asked as others rushed over to help before helping the smiling man up. “Don’t fall. I’m not down yet. I said a watch like yours!”

“Because of the condition of it — basically, it’s a new old stock watch, no wear on it, the original foil sticker on the back on it, and the fact that we have all this complete documentation here, also, maybe one of the very few in the whole world that still was never worn — your watch, at auction, today, $500,000 to $700,000,” Planes continued.

Never miss a story — sign up for PEOPLE’s free daily newsletter to stay up-to-date on the best of what PEOPLE has to offer, from juicy celebrity news to compelling human interest stories.

That made the veteran get even more emotional. “You’ve gotta be f— [with] me,” he said, a huge smile coming across his face.

Though Planes joked that the man was no longer able to wear the watch as it would decrease its value, he finished by saying that the watch was one of the “rarest Paul Newman models” and that it was “one of the greatest watches to ever see Antique Roadshows.”

“In this condition, I don’t think there’s a better one in the world,” Planes proudly noted.