'Antiques Roadshow' guest gasps after expert tells him the real value of his old $250 Rolex watch
Rare Rolex watches on BBC Antiques Roadshow are one of the most popular features as they have a reputation for stunning people. One such watch left its owner almost in tears as he had no idea of its significance. Expert Richard Price was also fairly impressed as the watch had a "full set" that collectors look for.
Looking at the watch, the expert told the owner that the watch was a rare "Rolex Oyster GMT Master", which was bought from a shop in Hong Kong in the 1970s. Looking at the young owner, Price suspected that he wasn't the one who bought it, and so he asked how the watch got to him.
The guest explained that the watch was originally a gift for his father who used it for a long time. Some time ago, his father passed on the watch to him as an inheritance. He said it was kept in the drawer for a long time since he got it from his father.
The expert then went on to take a closer look at the watch and its condition. He said that Rolex collectors use the reference number for everything and this watch had the 1675 as the reference number. Explaining the origin of the model Price said that back in the 1950s, pilots of Pan Am Airlines undertook long flights across the world and they primarily followed the GMT.
Thus, to keep track of the accurate time, the airlines requested Rolex to make a watch that had a third hand operating on GMT. Rolex then created the GMT Master for Pan Am pilots and the 1675 model became the standard in the early 1950s.
Price then explained that the watch came with all the required documents and such an item is called a "full set". The expert said that the watch had the original bezel which makes it more valuable. While everything was stunning about the watch, Price pointed out that the bracelet was changed, in a service request.
Coming to the numbers, Price said that the watch was originally bought for 1040 Hong Kong dollars according to the sale receipt which at the time would have been equal to just under £200 (~$250).
"Those £200 have done quite well," Price says. He then goes on to say that if the watch had the original bracelet along with the full set, he would have added a couple of zeroes to its value making it worth £20,000 (~$25,070) today. This shocked the owner of the watch who appears to be at a loss for words.
However, since the watch did not have the original bracelet, Price had to bring the value down. He estimated that even without the original part, the watch was still worth a whopping £14,000 (~$17,551) today.
The guest who expected the watch to be worth a couple of hundred pounds was left stunned on hearing the five-figure valuation. "What? Whoa!" he gasped before adding that it was awesome.
