diff --git a/rest_framework/serializers.py b/rest_framework/serializers.py
index 31cfa34474..03880804a5 100644
--- a/rest_framework/serializers.py
+++ b/rest_framework/serializers.py
@@ -106,11 +106,29 @@ def _get_declared_fields(bases, attrs):
     # If this class is subclassing another Serializer, add that Serializer's
     # fields.  Note that we loop over the bases in *reverse*. This is necessary
     # in order to maintain the correct order of fields.
+    # Note: The 'seen' dict here ensures that the fields from the 'first' base
+    # take precedence over fields from later bases.
+    # (otherwise SortedDict will squash the first-base field and
+    # use the field from a later base instead.)
+    seen = set()
+    base_fields_map = {}
+    base_fields_order = []
     for base in bases[::-1]:
         if hasattr(base, 'base_fields'):
-            fields = list(base.base_fields.items()) + fields
-
-    return SortedDict(fields)
+            for name, field in base.base_fields.items():
+                base_fields_map[name] = field
+            base_fields_order = list(base.base_fields.keys()) + base_fields_order
+
+    seen = set()
+    base_fields = []
+    for name in base_fields_order:
+        if name not in seen:
+            base_fields.append((name, base_fields_map[name]))
+        seen.add(name)
+
+    # if there are fields in both base_fields and fields, SortedDict
+    # uses the *last* one defined. So fields needs to go last.
+    return SortedDict(base_fields + fields)
 
 
 class SerializerMetaclass(type):
diff --git a/rest_framework/tests/test_serializer.py b/rest_framework/tests/test_serializer.py
index c24976603e..85afd8176d 100644
--- a/rest_framework/tests/test_serializer.py
+++ b/rest_framework/tests/test_serializer.py
@@ -1643,3 +1643,72 @@ def test_serializer_supports_slug_many_relationships(self):
         serializer = SimpleSlugSourceModelSerializer(data={'text': 'foo', 'targets': [1, 2]})
         self.assertTrue(serializer.is_valid())
         self.assertEqual(serializer.data, {'text': 'foo', 'targets': [1, 2]})
+
+
+### Regression test for #1053
+
+class OverriddenFieldsBase1(serializers.Serializer):
+    a_field = serializers.CharField()
+
+
+class OverriddenFieldsBase2(serializers.Serializer):
+    a_field = serializers.IntegerField()
+
+
+class OverriddenFieldsWithSingleBase(OverriddenFieldsBase1):
+    a_field = serializers.FloatField()
+
+
+class OverriddenFieldsMultipleBases1(OverriddenFieldsBase1, OverriddenFieldsBase2):
+    # first base takes precedence; a_field should be a CharField.
+    pass
+
+
+class OverriddenFieldsMultipleBases2(OverriddenFieldsBase2, OverriddenFieldsBase1):
+    # first base takes precedence; a_field should be a IntegerField.
+    pass
+
+
+class OverriddenFieldsMultipleBasesOverridden(OverriddenFieldsBase1, OverriddenFieldsBase2):
+    a_field = serializers.FloatField()
+
+
+class SerializerSupportsOverriddenFields(TestCase):
+    def test_base_fields_unchanged(self):
+        self.assertIsInstance(
+            OverriddenFieldsBase1.base_fields['a_field'],
+            serializers.CharField,
+        )
+        s = OverriddenFieldsBase1()
+        self.assertIsInstance(s.fields['a_field'], serializers.CharField)
+
+    def test_overridden_fields_single_base(self):
+        self.assertIsInstance(
+            OverriddenFieldsWithSingleBase.base_fields['a_field'],
+            serializers.FloatField,
+        )
+        s = OverriddenFieldsWithSingleBase()
+        self.assertIsInstance(s.fields['a_field'], serializers.FloatField)
+
+    def test_overridden_fields_multiple_bases(self):
+        self.assertIsInstance(
+            OverriddenFieldsMultipleBases1.base_fields['a_field'],
+            serializers.CharField,
+        )
+        s = OverriddenFieldsMultipleBases1()
+        self.assertIsInstance(s.fields['a_field'], serializers.CharField)
+
+        self.assertIsInstance(
+            OverriddenFieldsMultipleBases2.base_fields['a_field'],
+            serializers.IntegerField,
+        )
+        s = OverriddenFieldsMultipleBases2()
+        self.assertIsInstance(s.fields['a_field'], serializers.IntegerField)
+
+    def test_overridden_fields_multiple_bases_overridden(self):
+        self.assertIsInstance(
+            OverriddenFieldsMultipleBasesOverridden.base_fields['a_field'],
+            serializers.FloatField,
+        )
+        s = OverriddenFieldsMultipleBasesOverridden()
+        self.assertIsInstance(s.fields['a_field'], serializers.FloatField)