Battered 54-year-old Rolex sells for £5,160 at auction
A BATTERED old Rolex watch fetched more than £5,000 when it went under the hammer.
This 54-year-old timepiece is an Oyster Perpetual GMT Master, a stainless steel model originally developed in the mid-1950s for international pilots travelling through global time zones.
Despite the condition, the owner of the watch, who wished to remain anonymous, but is from Market Rasen, picked up £5,160 for it from an online bidder in Berkshire on Tuesday, January 22.
The watch was put up for auction by CJM Auctioneers in Scunthorpe.
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Auctioneer Paul Cooper said: “Rolexes do make good money but after more than half a century of use this watch was, to put it mildly, not in mint condition. The glass was badly scratched, part of the case that held the outer bezel in place was missing, the bezel colours had pretty much gone and the steel bracelet was held together by willpower.
“On top of that, the time zone hand didn’t work but, on the positive side, the watch did wind up and go. It was also a pretty early example.
“It arrived at the auction centre in a box of various interesting bits and pieces that were sent by a vendor from the Market Rasen area who had been having a bit of a clear-out.
“She was pretty pleased when we said that it could attract quite a lot of attention from collectors.
“In fact, it brought in a huge number of enquiries from all over the world. We were deluged with requests for photographs and information.
“In the online auction on Tuesday, it was eventually knocked down to a bidder from Berkshire for £5,160 plus buyer’s commission.
It does underline just how strong the collector market is for pocket watches and wristwatches.
“Thanks to internet auctions, buyers can be anywhere.
“Interesting examples are achieving results that are way over the intrinsic value of the metal involved, so it is really worthwhile getting things checked out before sending them off to be melted down – or dumped.”
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