Air Force veteran brings $350 Rolex to 'Antiques Roadshow' and keels over when he finds out its worth
A guest on 'Antiques Roadshow' had to find his bearings after literally falling over when he was informed that a Rolex watch he bought in the 1970s for 300-odd dollars was worth hundreds of thousands of dollars in today's market because of its pristine condition and its rarity.
On Monday's episode of the auction show, in West Fargo, North Dakota, an air force veteran who is only identified as David brought in a watch that was described as an "absolute fabulous find" and "one of the greatest watches to be ever seen on 'Antiques Roadshow.'"
David explains that he had bought the watch, a 1971 Rolex Oyster Cosmograph, in Thailand when he was stationed there in the Air Force between 1973 and 1975. He said he had always wanted one because he had seen pilots wear them and heard it was good to take scuba diving, but had been unable to purchase it because it was so expensive.
Eventually, he made up his mind to buy one, he said, but that he could never bring himself to wearing it during his scuba diving excursions because he was afraid it would not survive. Instead, he kept it aside in a safe deposit box, where it stayed for the next 30 or 40 years except for a few occasions when he took it out to check on it and admire it.
"It was a lot of money for myself," he told the appraiser, Peter Planes, adding that even though he had bought it for $345, that sum amounted to almost an entire month's salary at the time.
David had also brought along all the other material he had received with the watch, including a blank warranty paper and a blank paper that Planes said were by themselves worth around $2,000 today.
He said that this version of the watch was incredibly popular, in part, because legendary actor Paul Newman had worn a similar one in 'Winning,' adding that the make went for anywhere between $150,000 to $200,000.
David, already a little taken aback, was in for a further surprise as Planes went on to explain that the watch he had brought along was, in fact, much, much more valuable than that worn by Newman for a number of reasons.
"Your watch is more special," Planes explained to David. "It says 'Oyster' on it. They did that for an extremely short period of time... This particular model... is extremely, extremely rare. A watch like this at auction is worth about $400,000."
At this point, David just falls to the ground and starts laughing, drawing some concerned looks from others in the area. But Planes tells him to save his reaction because he had more good news to deliver.
"Don't fall," he said. "I'm not done 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 of it, and the fact that we have all this complete documentation here also – it may be one of the very few in the whole world that still was never worn."
"Your watch, at auction today, (is worth) $500,000-$700,000...," he continues, with David barely able to comprehend the number. "It's an absolute fabulous find. It's one of the rarest Paul Newman models and in this condition, I don't think there's a better one in the world."