Man buys 'rare' watch from Goodwill for $5.99, sells it for $35,000

Earlier this month, Zachary Norris was scouring a Phoenix Goodwill for a used push golf cart when he spotted a collection of old watches. Among them was a watch with a dial that read “Le Coultre Deep Sea Alarm.”

Norris, a vintage watch collector, knew the watch had to be worth significantly more than the $5.99 price tag, so he purchased it and immediately brought it to an authorized Jaeger-LeCoultre retailer in Scottsdale, Ariz..

Sure enough, the watch was an extremely valuable one: It was a rare 1959 LeCoultre Deep Sea Alarm, one of the brand’s most desired design — less than 1,000 were made for the American market — and one of the first watches to feature an alarm for divers.

Norris posted a video of the watch with its still-functioning alarm on YouTube.

Armed with this information, Norris posted his watched on a “Vintage Watches” Facebook page, where offers started pouring in from collectors around the world.

Norris eventually accepted an irresistible offer from Rolex dealer and collector Eric Ku, who offered Norris $35,000 for the watch, and threw in Norris’ dream watch, an Omega Speedster Professional, to sweeten the deal.

Not bad for a $5.99 watch.

Norris delivered the watch to Ku in person last Wednesday.

Norris told Hodinkee that he has since given a donation to Goodwill, but insists on keeping the amount private.