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Shocked to Sell: Rolex Bought for $346 Now Worth $700,000
Jun
Shocked to Sell: Rolex Bought for $346 Now Worth $700,000
This is not just a story—it’s a real-life surprise that left an entire room speechless. A retired U.S. Air Force veteran brought a Rolex watch he bought in 1974 for just $346 to an antique fair, only to discover that its current value could reach as high as $700,000. Let’s dive into the full journey of this incredible Rolex Oyster Cosmograph and how it became one of the most unexpected treasures ever featured on Antiques Roadshow.
A Rare Rolex, Forgotten for Decades
In 1974, the man was a young U.S. Air Force officer stationed overseas. At that time, he had heard about the outstanding quality and prestige of Rolex watches, and when he noticed that a Rolex was being offered at a 10% discount at a military base exchange, he decided to buy it. The price? $346.97, which was roughly equivalent to half a month’s salary for him at the time.
He placed the order in November 1974, and only received the watch months later in April 1975. The specific model he bought was the Rolex Oyster Cosmograph Reference 6263, now known as one of the most sought-after vintage models on the market.
Never Worn, Stored Like a Treasure
What’s most surprising isn’t just the age of the watch, but its immaculate condition. Instead of wearing it, the man decided to keep it in its original box, along with the warranty papers and instruction manual. Why? As he explained on the show, “It was too beautiful to wear. I didn’t want to get it wet in the ocean.”
For nearly 50 years, the watch was untouched, occasionally taken out just to admire. It had never been worn, and remained in the same condition as the day he received it.
The Big Reveal on Antiques Roadshow
Fast forward to 2020s. The man, still unaware of its true value, brought the Rolex to a taping of the popular television show Antiques Roadshow, which specializes in appraising vintage collectibles and family heirlooms.
At first, he simply wanted to know what the watch was worth. Selling it wasn’t on his mind—he was just curious. But what happened next was completely unexpected.
The appraiser examined the timepiece carefully and, after confirming its authenticity and pristine condition, revealed that this rare Rolex could easily fetch $400,000. The man was so stunned that, according to the show’s hosts, he literally “fell over” in shock—the first time that had ever happened in the show’s history.
But the story didn’t end there.
A Second Appraisal—and an Even Higher Offer
Another collector at the fair later approached him and suggested that given the perfect condition and complete set (box, papers, and untouched appearance), the Rolex could in fact be worth between $500,000 to $700,000—a jaw-dropping amount for a watch that had been stored away for decades.
What Makes This Rolex So Valuable?
The Rolex Oyster Cosmograph Ref. 6263 is a vintage chronograph that is highly desirable among collectors, especially when it features original parts and has not been refurbished or worn. Key factors that increased its value include:
- Unworn condition
- Original packaging and documents
- Limited production model
- Historical significance
- Mechanical movement with high precision
- Rarity in the current market
For collectors, a complete set like this is exceedingly rare, and often considered a “holy grail” item in vintage watch circles.
The Power of Preservation
This story serves as an incredible example of how careful preservation can dramatically increase the value of a collectible. Had the man worn the watch regularly, lost the papers, or replaced original parts, its value would have decreased significantly.
Instead, by keeping everything intact and untouched, he accidentally preserved an investment that outperformed stocks, real estate, or even gold over the same period.
Rolex Watches: More Than Just Timepieces
This viral moment also highlights why Rolex remains the most prestigious name in watchmaking. Not only are their watches celebrated for performance, but they are also considered long-term investments—especially vintage models.
Over the years, the Rolex Daytona, Submariner, and Day-Date have all fetched six-figure sums at auctions, especially when associated with limited production, historical significance, or celebrity ownership.
Final Thoughts: What If You Own One?
The next time you come across an old watch in a drawer, attic, or family heirloom box, it might be worth taking a closer look. That old Rolex your grandfather never wore could be a hidden fortune. Consider having it appraised by professionals, especially if it’s in good condition and retains its original packaging.
If there’s one lesson from this incredible Rolex story, it’s this:
“Sometimes the greatest treasures are the ones we forget we even have.”
