GUEST: I've got this vintage Rolex that I understand is from about 1970.

Here in Salt Lake, there's a local company that does primarily online auctions, but they also have a small brick-and-mortar retail operation.

I found that in there one day, and they had it priced fairly high.

So I wanted to do some research and due diligence.

APPRAISER: Mm-hmm.

GUEST: And ended up deciding it was worth risking the $2,800 that I spent on it at the time, in about 2010.

I really, uh, admired the Rolex Red Submariners... APPRAISER: Mm-hmm.

GUEST: for a long time.

And especially the ones with the, kind of the ghost number dial on the, around the outside.

APPRAISER: In the last few years, a lot of things have changed.

These older models certainly have gone up in price.

APPRAISER: This particular model is the 1980.

It was actually built in 1970, like you said.

GUEST: Okay.

APPRAISER: Um, it has a special red "Submariner" on the dial.

There was about 11,000 pieces made.

They started making the Red Submariner in 1967.

This is, like, the fourth generation of this dial.

They made about seven different generations up until about 1976.

So the watch also features a large date aperture.

So you have a large date, it's easy to read under the water.

It has luminous hands, markers, which was also used for diving purposes.

Then you also have the, the diver bezel, which is 0 to 60.

You could do minutes or seconds off that bezel, also for diving purposes.

Do you wear it often?

GUEST: Not very much.

APPRAISER: Mm.

GUEST: Yeah, I just take it out and admire it now and then.

(both chuckle) APPRAISER: You should wear it-- it's a great watch to put on and wear around.

GUEST: Okay, I'll do that.

APPRAISER: Did you ever have this watch appraised?

GUEST: Uh, about the time I bought it, maybe a year later, I had it appraised by the local Rolex dealer for insurance purposes for about $8,000.

APPRAISER: I can value this watch, nowadays, for about $25,000 at retail value.

GUEST: Oh, my goodness.

APPRAISER: Yeah.

GUEST: (chuckles) APPRAISER: I'm... GUEST: Wow.

(chuckles) I had no idea.

That's outstanding-- wow.

APPRAISER: But I would have it appraised for close to $30,000.

GUEST: For insurance purposes?

APPRAISER: Yes, for insurance purposes.

GUEST: Great.

APPRAISER: Okay?

GUEST: All right-- I'll call my insurance man right now.

APPRAISER: Yeah.

(both chuckle) The bezel alone is worth $3,000.

GUEST: (chuckling): Oh, my goodness.