Never lose your receipts. You’ll need them in case you want a refund – or in case you want to sell the item for a truckload of money some 50 years later.
In 2015, an elderly man appeared on the TV program ‘Antiques Roadshow’ and had his 1960 GMT Master Model Rolex appraised.
According to the man, his former army sergeant advised him to buy a watch before returning home from Germany. And so he did. At the time, he spent US$120 (AUS$151) on it. That’s about US$984 (AUS$1,239) in today’s money.
Now, it costs so much more than that.
“I was very excited when you brought this up to the table,” said Peter Planes, the one who appraised the item. “It is the first model GMT that Rolex ever made.”
He added: “I’m very pleased to tell you that this watch is a very, very collectible watch.”
Peter then revealed how much the rare Rolex now costs – somewhere between US$35,000 (AUS$44,000) and US$45,000 (AUS$56,000).
BUT, because the old man somehow kept all the original paper work, the Rolex’s value jumped to somewhere between US$65,000 (AUS$82,000) and US$75,000 (AUS$94,000).
“I’m speechless – if you would have told me $1,500 I would have been happy,” the man said, clearly shocked and on the verge of tears.