THE owner of a Rolex watch thought it could be worth a few quid and decided to take it along to an Antiques Roadshow-style valuation day being held for charity by auctioneers Lyon & Turnbull.
After submitting the watch at the event in Leith Hall Gardens and Estate in Huntly, Aberdeenshire, in October, the anonymous owner was delighted and amazed to be told by the auctioneers that the rare Rolex GMT Master in yellow gold had a value of between £3000 and £5000.
The owner was even more astounded when the Rolex was auctioned this week by Lyon & Turnbull for the sum of £41,250.
Collectors were interested in the condition of the watch, which has had a good long life – even down to a burn mark in the original acetate glass.
Made around 1967, the auctioneers described it as “certainly a project for the enthusiast, however, as it is still in working order.”
Lyon & Turnbull explained its attraction: “Although the Rolex GMT-Master was designed essentially for professional use, its combination of peerless functionality and rugged good looks has attracted a wider travelling public.
“As well as appreciating its ability to display different time zones, these travellers admire the robustness and versatile appearance that make the GMT-Master eminently suitable for globetrotting and, indeed, for any occasion.”
Trevor Kyle, director and jewellery specialist at Lyon & Turnbull, said: “The statistics that confirm Rolex’s dominance of the watch industry are everywhere and incontrovertible, from brand-recognition surveys to chronometer-certificate applications via auction prices and retained values.
“We were thrilled when this particular watch came to our attention at a charity valuation in Huntly, Aberdeenshire. The vendor, who wishes to remain anonymous, has subsequently decided to sell it. We knew it would do well, although in a poor condition, but this has exceeded our expectations.”
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