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Rolex Bought In 60s For $120 Is Brought For Appraisal, Elderly Owner Is Told Its Current Value

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There are some material things that are far from a waste of money and can actually end up being  investments. There are many things that increase in value over time, including:

  • Vintage cars,
  • Antique furniture,
  • Pieces of art,
  • Wine.

While not everything is worth holding onto for years on end, there are some things that can result in serious profit when taken care of. The PBS show Antiques Roadshow features experts appraising the value of various items brought in by local antiques owners.

One elderly man brought in an old Rolex watch he purchased back in 1960 to be appraised, however, he never expected just how valuable this accessory would end up being.

An army veteran appeared on Antiques Roadshow to find out if a Rolex watch he bought over 50 years ago had become any more valuable.

Jewelry expert Peter Planes appraised the watch and right away it was clear that he was excited by the antique accessory.

The pensioner explained that he had bought the watch in Germany just before he came back to stateside for $120. At the time, this was a pricey purchase considering the man’s monthly salary in the army was under $100.

The man initially bought the watch because his Sergeant recommended the brand to him, telling him that he should buy one before leaving Germany.

The watch became a keepsake for the man over time and impressively, he managed to keep the box and paperwork that came with it in impeccable condition.

In the half century this man has owned the Rolex watch, he’s replaced the bracelet, but still kept the original one on hand.

Peter Planes went on to explain that the rare watch was the first GMT Master Model that Rolex had ever made, which was identified in part due to the receipt.

This man’s long term care for this rare Rolex watch and its packaging truly paid off as Planes revealed just how valuable the original GMT Master Model has become.

Peter Planes explained that the watch on its own merit would easily sell in auctions today for between $35,000 to $45,000.

However, because this man saved the box and paperwork, the watch can be sold for $65,000 to $75,000 in the market.

The man’s reaction proved just how surprised he was to know the watch’s true value. “Wow, I had no idea,” the man said. “I’m speechless. If you would have told me $1,500 I would have been happy.”

This man took a pretty major risk with his hefty purchase back in 1960, but 50 years later it proved itself to be one of the biggest investments he had no idea he made.

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