A miner bought this Rolex for a humble $90 in 1964, turns out he hit the jackpot as it is incredibly rare and will now be auctioned for a whopping $260,000

We all know how strong the market is for pre-owned Rolex watches, especially the steel models which are highly desirable thanks to its huge shortage at retailers. We recently did a story on how Rolex has been dominating the eBay marketplace for the last 25 years. So, putting money into a Rolex is never a bad idea; you’re guaranteed of a good return if you ever choose to sell it. However, it’s a completely different thing if you inherit a Rolex; that too an incredibly rare one! It’s like hitting a jackpot. A lady in England got the surprise of her life when she realized that the Rolex left behind by her father was worth more than $260,000. The watch that is now being sold is a Rolex Submariner 5512, with an exceptionally rare 3-6-9 dial.

The rare Rolex was originally owned by a miner who bought the watch to celebrate his 40th birthday in 1964 for just $90. The Rolex Submariner 5512 with the Explorer 3-6-9 dial was only produced for a short period in the early 1960s, and very few survive with the unique dial as they were regularly replaced at the time of service. The watch is now being sold by the original owner’s daughter and son-in-law and it will be auctioned at Gardiner Houlgate auctioneers in Corsham, Wiltshire, on October 21. David Hare, director of the auction house said: “This is the holy grail of vintage watches. There are so few of these left in their original condition that they command very high prices and are sought after by collectors all over the world.” According to David, a similar Rolex was auctioned in 2016 and it managed to fetch an equivalent of $250,000. “We’re still in a state of disbelief about the potential value of this watch,” said the son-in-law. “Things like this just don’t happen to us. Having worked all our lives to be able to enjoy retirement, this will give my wife and I the added financial security we’ve dreamt of.” The watch was bought from Watches of Switzerland in London and is in incredible condition. It also comes with its original boxes, guarantee, and service booklet.

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[Via: News Chain]

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Sayan Chakravarty, a Senior Writer at Luxurylaunches, brings over 10 years of automotive journalism expertise. He provides insightful coverage of the latest cars and motorcycles across American and European markets, while also highlighting luxury yachts, high-end watches, and gadgets. An authentic automobile aficionado, his commitment shines through in educating readers about the automotive world. When the keyboard rests, Sayan feeds his wanderlust, traversing the world on his motorcycle.