$400 Game Show Rolex Selling for $40,000

(IDEX Online) - An iconic Rolex that was given as a prize on The Price is Right back in 1979 is expected to sell for almost $40,000.

The 1978 Rolex Submariner Ref. 1680 Tiffany Dial - a rare collaboration between Rolex and Tiffany - retailed for around $300 to $400 at the time, but had yet to acquire the cachet or the price tag of the Rolex classic it has since become.

Today it is among the rarest and most sought-after Rolexes. The contestant who won the watch almost half a century ago is now selling it through Bob's Watches, based in California, USA with a $39,995 cash wire price.

"This example is coming directly from the original owner and the story goes that he won it as a prize on the game show The Price is Right back in the late 1970s," according to the company website.

"He mentioned that the watch was behind a door that he opened to reveal a price."

Paul Altieri, CEO of Bob's Watches, said: "It's not just the rarity of the Tiffany dial, it's the story behind it — a game show prize that became a cherished daily companion, and now a sought-after collector's piece."

Unlike many ultra-rare models that spend decades locked away in safes, this Submariner was actually worn by its owner, and bears some of the wear and tear marks to prove it.

The Price Is Right originally aired from 1956 to 1965 on NBC, hosted by Bill Cullen. It was was revived in a modern format on CBS in 1972, hosted by Bob Barker, and is still airing, with Drew Carey as the current host.