Surfer finds rare Rolex at the bottom of the ocean

An Australian surfer named Matt Cuddihy has retrieved a rare Rolex Submariner from the bottom of the Pacific Ocean.

Despite its terrible condition, the watch is still potentially worth a huge amount of money.

Matt took to Instagram to share the news of his sea-debris-encrusted find.

“I was just snorkeling around the same areas I normally go to in Noosa [in Queensland, Australia] when I noticed a Rolex Submariner with its band caught under a rock,” Matt said.

READ MORE: Fans can’t believe Kylie Jenner just casually found a $41k Rolex in the bottom of her bag

Let’s start with the good news.

First and foremost, the watch still works.

This will probably come as no surprise to watch collectors because Rolex watches are famous for being pretty much bombproof.

And there’s more good news because some of the debris came off when Matt washed the watch.

And now for the bad news.

Matt says the watch smells terrible and, more importantly, he says the crown is jammed.

“It technically stills tell the time,” Matt explained. “But not in my time zone.”

It’s unclear whether Matt intends to sell it or keep it, but either way, the watch still needs a lot of work done to it.

A timepiece such as this one comprises hundreds of minute components.

Each component will have to be cleaned and oiled individually, or replaced, and this will have to be done by a Rolex-approved watchmaker.

Speaking of which, it would also be a good idea to have it authenticated.

Based on what we can see, the watch appears to be a Ref. 14060 (above), a rare no-date iteration of the Submariner from the 1990s.

At today’s market value, a Submarine 14060 in good condition is worth around $10,000.

DISCOVER SBX CARS: The global premium car auction platform powered by Supercar Blondie