diff --git a/rest_framework/fields.py b/rest_framework/fields.py
index c83ee5ecf..ca647c603 100644
--- a/rest_framework/fields.py
+++ b/rest_framework/fields.py
@@ -24,7 +24,7 @@ from rest_framework import ISO_8601
 from rest_framework.compat import timezone, parse_date, parse_datetime, parse_time
 from rest_framework.compat import BytesIO
 from rest_framework.compat import six
-from rest_framework.compat import smart_text
+from rest_framework.compat import smart_text, force_text
 from rest_framework.settings import api_settings
 
 
@@ -171,7 +171,7 @@ class Field(object):
             return [self.to_native(item) for item in value]
         elif isinstance(value, dict):
             return dict(map(self.to_native, (k, v)) for k, v in value.items())
-        return smart_text(value)
+        return force_text(value)
 
     def attributes(self):
         """
diff --git a/rest_framework/tests/serializer.py b/rest_framework/tests/serializer.py
index db3881f9a..c9297952a 100644
--- a/rest_framework/tests/serializer.py
+++ b/rest_framework/tests/serializer.py
@@ -1143,3 +1143,32 @@ class DeserializeListTestCase(TestCase):
         self.assertFalse(serializer.is_valid())
         expected = [{}, {'email': ['This field is required.']}, {}]
         self.assertEqual(serializer.errors, expected)
+
+
+# test for issue 747
+
+class LazyStringModel(object):
+    def __init__(self, lazystring):
+        self.lazystring = lazystring
+
+
+class LazyStringSerializer(serializers.Serializer):
+    lazystring = serializers.Field()
+
+    def restore_object(self, attrs, instance=None):
+        if instance is not None:
+            instance.lazystring = attrs.get('lazystring', instance.lazystring)
+            return instance
+        return Comment(**attrs)
+
+
+class LazyStringsTestCase(TestCase):
+
+    def setUp(self):
+        from django.utils.translation import ugettext_lazy as _
+
+        self.model = LazyStringModel(lazystring=_("lazystring"))
+
+    def test_lazy_strings_are_translated(self):
+        serializer = LazyStringSerializer(self.model)
+        self.assertEqual(type(serializer.data['lazystring']), type("lazystring"))