In an episode of Antiques Roadshow, an Air Force veteran learned that his rare Rolex was worth $700,000! The man purchased the Rolex Oyster Cosmograph for $345.97 in 1975, which was a very hefty sum. It came more of a shock to him when he learned that his old $300 watch is now worth more than what he paid for back then. Gizmodo has the details:
The Rolex Daytona, as this timepiece is also known, is coveted by watch collectors for many reasons, including the fact that Paul Newman wore a similar model in the film Winning. This Rolex Daytona is considered a step up from the model appearing in that movie, however, with improved water resistance as denoted by the word “Oyster” on the face, making this model especially rare.
But because this veteran never actually wore his Rolex, preserving even a foil label on the back of the watch that usually rubs off over time, the watch is essentially in brand new condition even though it was manufactured back in 1971. That, with the original packaging, paperwork, receipts, and warranty documentation that was never filled out, led the Antiques Road appraiser to estimate that it could fetch anywhere from $500,000 to $700,000 at auction, given the recent popularity and demand for this specific Rolex model. That is a significant return on investment, and a good enough reason to rifle through your grandparents’ watch drawer the next time you stop by for a visit.