Eye-watering Sale
A rare Rolex Oyster Submariner watch, purchased for a mere £60 in 1965, has recently been sold at Gardiner Houlgate Auctions in Corsham, Wiltshire. The watch fetched a hammer price of £65,000, but with added auction fees, the final selling price reached an incredible £82,160. This amounts to a staggering 1,370 times the original purchase price.
Unique Design
One of the standout features of this particular Rolex model is its '369' design. Unlike other watches of its time, the Rolex Oyster Submariner has digits instead of batons to mark the hours on its black dial. This experimental design was eventually discontinued by Rolex, making these watches extremely rare and valuable today.
An Impressive Investment
According to David Hare, watch specialist at Gardiner Houlgate, the original owner of this Rolex watch made a wise investment. Hare explains, "It never ceases to amaze me that despite the rarity of these models, we keep finding them! This is a fantastic result and our client will be delighted to have such a positive return from his initial £60 purchase back in 1965."
Continued High Demand
Vintage Rolex watches, like this Submariner model, continue to attract significant interest and demand from collectors around the world. Despite the current economic climate, these timepieces remain highly sought-after. Hare compares the excitement of discovering rare Rolex watches to a moment on the popular show "Antiques Roadshow," stating, "It is just amazing when these examples appear, a real 'Antiques Roadshow' moment."
A Pleasant Surprise
This sale follows a similar surprise on the US version of the "Antiques Roadshow," where an Army veteran collapsed in shock upon learning the value of his Rolex watch. These stories serve as a reminder that valuable treasures can be found in unexpected places.
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