Rare watch that was bought for £60 then worn ‘virtually everyday’ sells for eye-watering sum
A RARE watch which was bought for £60 in 1965 has sold for an eye-watering sum.
The Rolex Oyster Submariner went under the hammer at Gardiner Houlgate Auctions in Corsham, Wiltshire.
After fetching a hammer price of £65,000, added auction fees pushed the final selling price to an incredible £82,160 – 1,370 times what was paid for it.
The ‘stand out’ aspect of the watch is the ‘369’ design.
Rolex experimented with having the three, six and nine on the black dial in digits to mark the hours.
These watches are extremely rare these days and can be very valuable.
David Hare, watch specialist at Gardiner Houlgate, said: “It was bought by the owner for £60 so it is not a bad investment.
“The stand out thing about this Rolex model is the dial. It has got an Explorer dial with three, six and nine in digits rather than batons.
“The Explorer range was experimental but Rolex realised it wasn’t that popular so they scrapped it after a couple of years and that is what gives this watch its value.
“Also Rolex offered a service to replace the dials once they had become damaged. This one has got its original dial. It also has its original case which is a bit battered.
“The owner hasn’t worn it for a while but it was very much his everyday watch.
“It never ceases to amaze me that despite the rarity of these models, we keep finding them!
“Viewing this particular dial out of the case I have to say the gloss and condition is remarkable and just what the top collectors seek.
“This is a fantastic result and our client who will be delighted to have such a positive return from his initial £60 purchase back in 1965.
“Considering the current economic climate, vintage Rolex watches continue to attract high demand from all four corners of the globe and it is just amazing when these examples appear, a real “Antiques Roadshow” moment.”
It comes after a shocked Antiques Roadshow guest collapsed to the ground after hearing how much his Rolex watch was worth.
Army veteran David was left stunned when he brought the timepiece in for valuation on the US version of the show.