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I leave to you helpful experts the definitive identification of this watch.  However, If you do conclude that it is indeed an S.V.P. III, you may be interested in knowing that that model name was first introduced into commerce by Bulova on August 12, 1959, which puts the manufacture of this watch (if it is an S.V.P. III) into the latter half of 1959.  

I read elsewhere that the letters are an acronym for Style! Value! Performance!--but I cannot independently confirm that.



Here is the U.S. Patent and Trade Office registration of the trade mark:



http://tsdr.uspto.gov/documentviewer?caseId=sn72080401&docId=ORC2006031…