A Man Bought A $4 Painting And Found A Priceless Treasure Behind The Frame

When the man — who wished to remain anonymous — perused the chaotic aisles of an Adamstown, Pennsylvania, flea market, he had no wild expectations of what he would find. Even still, he never supposed his shopping trip would end up as it did.

The Buyer was known to be a flea market buff of sorts, routinely scavenging for items to boost his collection of antique stocks, bonds, and various paper items. In 1989, he found a peculiar little treasure that nearly rocked his world.

A particular painting entranced The Buyer, or at least its wooden frame did. Pulling out his wallet, the financial analyst spent a skimpy four bucks on the old artwork, thinking little of the purchase.

The painting, which depicted a subdued country scene, was old and ripped. None of those details mattered to the mysterious Buyer, however, as he was simply interested in its frame. That's why the painting itself was destined for the trash can.

So, when the Buyer returned home, he removed the painting from its handsome frame only to find a small piece of linen paper measuring 15.5 by 19.75 inches. Something about this odd, little piece of paper looked familiar to him...

Now, The Buyer had found various interesting flea market items throughout his many years of collecting, but this curious find was unlike anything he'd ever purchased. Because when he realized what the folded document was, he immediately locked it away for safekeeping.

The document was a copy of the Declaration of Independence, which dated back to 1776! Before Nicholas Cage had the chance to nab the national treasure, the Buyer locked it up in his house until he could figure out what to do with it.

It took him a while to decide, because the priceless document sat in the Buyer's house for months, until he finally gave in to his friend's urging that he contact Sotheby's for an appraisal.

Sotheby's is considered one of the world's most prominent brokers of artwork, jewelry, real estate, and collectibles; so it's no wonder he trusted them with the antique historical document. But Sotheby's was skeptical.

At the time, Selby Kiffer, the VP of books and manuscripts for Sotheby's, stated, "We literally get two or three calls a week from people claiming to have a copy of the Declaration of Independence." This time, it wasn't a flimflam or prank call.

The Manhattan auctioneers' skepticism was understandable in view of what Kiffer has seen. "What most people run into is a reproduction of the handwritten copy with 56 signatures that was produced several months later," Kiffer explained.

But after several experts took a gander at the yellowed piece, they all agreed it was the real thing. While the paper and the typography were both reminiscent of the era, an etching on its backing is what really sealed the deal.

The handwritten seal of approval on the back that read "Declaration of American Independence. July 4, 1776," really finalized its authenticity. The Buyer could hardly believe it: why wasn't this locked away in a museum?

Back in the day, once the milestone that was independence became official, Philadelphia printer John Dunlap printed copies to spread the good news to the people. One of those very copies was shockingly pinched between that cheap painting and its frame.

While it was a copy, it wasn't just a copy. The Sotheby's Vice President, David Redden, surmised that just 200 of these original copies were dispersed to government leaders, the Army, and the 13 colonies.

The Buyer's copy was one of just 24 that remained at the time. Considering the $4 flea market painting was in rough condition, Redden was amazed at the document's pristine form. “Here was the most important single printed page in the world, in the most spectacularly beautiful condition,” he said.

Considering another original copy sold for $1.59 million in January of 1990, it was believed that this priceless copy was valued at between $800,000 to $1.2 million. Unbelievably, the Buyer's copy was auctioned for $8.1 million.

No one is quite sure how the valuable 18th-century document ended up at the Adamstown flea market, but we're sure the Buyer didn't care about how! "It has to be characterized as a lucky find," said Kiffer.

Selby Kiffer mentioned that this bizarre, moreover lucrative, run-in with luck will inspire lots of people to check out flea market booths, and he's not wrong. That's something fans of Antique Roadshow have been saying for years — and with good reason!

When Air Force veteran David appeared on the traveling TV series Antiques Roadshow brandishing his old watch, he had no idea that the heirloom would be worth such a staggering sum. In fact, when he found out its true value, he appeared to drop to the ground in a dead faint. But just how much was David’s old Rolex worth – and how had he been unaware of its incredible story for almost 50 years?

David had not enjoyed the kind of life that allowed him to indulge his love of Rolexes in the lap of luxury – far from it. He was drafted during the Vietnam War. At the time, all young men aged 18 to 25 were assigned a number for each draft lottery. And when a number was pulled, anyone with that digit or less – and who was eligible to be part of the military – was called up to serve.

When David’s number was pulled, then, he was told he’d have to join a branch of the military. Otherwise, he’d be enlisted automatically by the following January. And so the veteran consequently decided to join the U.S. Air Force, where he began serving in munitions. More specifically, he was dealing with explosive ordnance disposal.

For David, this primarily involved clearing roadways of landmines as well as cleaning up impaired munitions storage facilities. “There were multiple children and adults that were injured as a result of unexploded ordnance,” the veteran said during an episode of Antiques Roadshow in January 2020. “The hazard is still there today.”

From 1973 David spent two years stationed in Thailand. And during that stint, he flew on a number of continental airlines. It was on these flights that he first developed a fondness for Rolex. You see, he noticed that pilots would frequently wear the brand’s watches – and subsequently found himself intrigued by the timepieces.

David decided he wanted to buy a Rolex watch for himself but quickly discovered they were beyond his budget. For a while, then, he put the idea on the back burner. But eventually, he was transferred to another base, where he spent time scuba diving. And with Rolex’s reputation as a great choice for scuba divers, it’s likely no surprise that the activity brought the watch brand back to the forefront of his mind.

In the end, David managed to find a Rolex for what he considered to be a reasonable price: $345.97, with a ten percent discount. Nevertheless, it was still quite an extravagance – supposedly amounting to around a month’s military salary in the 1970s. The veteran ordered the watch through the on-base department store in November 1974, but he would have to wait for months. You see, the pricey purchase didn’t arrive until April the following year.

And the particular variant that David had settled for was a Rolex Oyster Cosmograph. Yet according to the veteran’s account, he never actually used the timepiece. No, when it arrived, he decided that it was perhaps too nice to wear whilst scuba diving. So, he simply placed it into a safety deposit box – where it remained for another three to four decades.

The watch supposedly only left its secure housing on two or three occasions during all that time, in fact. And when it did, it was only for David to admire it proudly before it was carefully placed back into storage. As a result, the timepiece was in fantastic condition – particularly given its age. What’s more, David also kept all the original documentation he’d received when buying it.

It’s therefore quite understandable that David was so interested in getting a valuation for the Rolex. And to do so, he decided to speak to the experts of Antiques Roadshow. The hit series has gained quite a reputation for accurately appraising people’s antiques, after all, and it’s been running for more than two decades in the United States.

However, while the U.S. version of the show has undoubtedly been successful, the series actually has its roots in Britain. The original Antiques Roadshow began life as a BBC documentary, you see, which followed members of an auctioneering institution from London, as they traveled around England’s West Country. The first episode was filmed on May 17, 1977, and was met with such success that the format has effectively never changed.

The U.K. version of Antiques Roadshow now spans more than 40 individual series, too. And it’s remained with the BBC for its entire history and has even spawned spin-off shows. The children’s special Antiques Roadshow: The Next Generation, for instance, was broadcast every Christmas from 1991 to 2006. Meanwhile, a short-lived offshoot dubbed 20th Century Roadshow aired briefly in 2005.

But it’s not just the original British show that’s proved popular enough for spin-offs over the years. Indeed, a half-hour American show titled Antiques Roadshow FYI aired for a short time in 2005. And the program – which offered a more in-depth look at collecting and antiques in general – also followed up on items that had previously featured in the main series.

But arguably what makes Antiques Roadshow so successful are the veritable gems that have been unearthed while the cameras were rolling. Over the decades, the franchise has featured some seriously valuable items on both sides of the Atlantic. In 2008, for instance, an original sketch of Antony Gormley’s Angel of the North sculpture – now a fixture of northern England – appeared on the U.K. show. And the appraisers estimated it to be worth around a whopping $1.29 million.

In the U.S., meanwhile, Antiques Roadshow’s appraisers valued a 1904 work by Mexican painter Diego Rivera – spouse of acclaimed artist Frida Kahlo – at between $800,000 and $1 million in 2012. And six years later, in light of auctions for Rivera’s other paintings, a second appraisal of the artwork placed the value even higher: at anywhere from $1.2 million to a dizzying $2.2 million.

That’s not all, though. In 2011 a series of centuries-old Chinese cups – which had been hand-carved using rhino horns – were priced at between $1 million and $1.5 million. And multiple paintings have been appraised at around half a million dollars each, including works by American artists Andrew Wyeth and Norman Rockwell.

However, it’s not only rare antiques that the show spotlights. The U.S. version – broadcast by PBS – is taped at numerous locations across the country, with smaller, lesser-known cities often acting as the backdrop for the beloved franchise. These places – generally disclosed ahead of time – include settlements such as Rapid City in South Dakota, Biloxi in Mississippi and Chattanooga in Tennessee.

And for one episode in January 2020, the cast and crew of Antiques Roadshow traveled to yet another little-known treasure: Bonanzaville, a museum complex located in the city of West Fargo in North Dakota. The area is comprised of 40 different historical and modern buildings. It was here that David seized on the opportunity to get his Rolex examined.

The appraisal of David’s Rolex has since been uploaded to Antiques Roadshow’s YouTube channel, where it’s racked up more than 7.5 million views. In the clip, appraiser Peter Planes quizzes David on his backstory and how he came to acquire the watch. He then asks the veteran about what’s happened to the timepiece in the years since to help him reach his verdict.

With all that information in mind, Planes subsequently draws on his knowledge of rare watches to offer an assessment. He begins by looking over all the paperwork that David diligently kept with the watch, including the brochure, receipts and even the original warranty paper. Because this latter sheet is blank – and can therefore add value to any watch – Planes estimates that it alone is worth around $2,000.

The appraiser then focuses on the watch itself, highlighting all the relevant details that will help him ascertain its price. First, he points out that the watch isn’t just a regular Rolex Cosmograph. It’s an Oyster variant, in fact, which refers to the “screw-down buttons” on the side of the watch’s body.

According to Planes, this particular Rolex was produced in two styles – both with and without screw-down buttons. It’s the latter feature that makes the watch so popular, though, because these buttons allow it to be submerged in water. And back when the timepiece was first released, this novelty was a great incentive for buyers from all over the globe.

Planes also addresses the condition of the watch, noting that it’s been very well looked after over the years. Indeed, the foil sticker on the watch’s back is still present, showing a reference number of 6263. “Had it been worn, that’s the first thing that would wear off the watch,” the appraiser explains. He then points to the date mark, which shows that the watch was produced in 1971.

Planes then explains that collectors adore this particular model – which is also known as a Daytona Rolex – thanks, in part, to Paul Newman. You see, the actor wore the watch in the 1969 movie Winning, which apparently first inspired his love of motorsports. He subsequently became a competitive race car driver, and the timepiece was an iconic part of his image.

The Washington Post reporter Travis Andrews explained the watch’s popularity in 2017. “The mechanical watch radiated coolness, much like its owner,” he wrote. “It was a constant companion to Newman’s left wrist in magazine shoots, paparazzi photos and while he was speeding around in his race cars.” Incredibly, Newman’s actual watch sold for a record $17.8 million at auction in 2017.

As the clip continues, Planes tells David that models of the watch Newman wore usually fetch around $150,000 to $200,000 at auction. And to his credit, the veteran remains surprisingly calm – despite being quoted such an enormous sum of money. But what the appraiser says next prompts an entirely different reaction from David.

Yes, Planes explains that David’s watch is even more special than the model Newman wore, because it’s an Oyster variant. “They did that for an extremely short period of time,” the appraiser says. “We refer to that as a mark two dial. And this particular model, being marked Oyster, is extremely rare. A watch like this at auction is worth about $400,000.”

At that moment, upon hearing this even larger figure, David seems to collapse to the floor in shock, waving his legs in the air for effect. Planes then rushes across the table to check that the veteran is okay, while voices off-camera can be heard laughing at his dramatic reaction.

Thankfully, David is absolutely fine. And the spritely fellow quickly hops back up again, laughing in disbelief at the news he’s just been given. But Planes then tells him, “Don’t fall. I’m not done yet.” Yes, it turns out that the appraiser chose his words carefully when he said a watch “like” David’s sells for $400,000.

That’s because, largely thanks to the condition David’s watch is in, it isn’t actually worth that eye-watering amount – far from it. “It’s a new old stock watch, [with] no wear on it, the original foil sticker on the back of it, and… we have this complete documentation,” Planes says. “[It’s] maybe one of the very few in the whole world that was still never worn.” So, with all of this information in mind, the appraiser then reveals that David’s watch would likely fetch an eye-watering $500,000 to $700,000 at auction.

This time, David manages to stay on his feet. It’s clear, though, that he’s totally blown away by the figure Planes has just uttered. He shakes his head in continued disbelief and makes a remark that has to be bleeped out by the show’s producers, too. Nevertheless, Planes responds that he’s very serious about his appraisal.

“It’s an absolutely fabulous find,” Planes confirms. “It’s one of the rarest Paul Newman models, and in this condition, I don’t think there’s a better one in the world. I can’t thank you enough for bringing me one of the greatest watches to ever be seen on Antiques Roadshow – and thank you very much for your service.”

The appraiser then warns David that he can’t wear his magnificent antique. For if he does, the value will drop to around $400,000. However, it’s not known what the veteran’s plans are for his staggeringly valuable collectible. “He’s saved it all these years,” Planes told The Washington Post in January 2020. “He may be saving it more.”

According to Planes, David’s reaction stands out as particularly memorable. That’s perhaps not too surprising, though, given that his Rolex is the most valuable ever to appear on the show. But it’s not the most valuable watch ever featured. No, that honor apparently belongs to another timepiece, which is now said to be worth $2 million to $3 million.

Perhaps unsurprisingly, people across the world have loved David’s incredible story. The Antiques Roadshow clip has garnered millions of views and thousands of comments, too, since it was uploaded to YouTube. And much of the online reaction to the astonishing appraisal has been roundly positive. For instance, one YouTube user wrote, “Somebody’s retirement just became a lot more comfortable. Congrats to this gentleman.”

Another, meanwhile, was similarly effusive in his praise for David and the show. “The man spent his time in service defusing mines and unexploded ordnance,” they wrote. “I could not think of a more deserving person to have this sort of discovery. Hats off! Happy for you and everyone you have had a positive effect on.”

But not all of the online reactions have been so glowing. In fact, some users have even criticized Planes’ appraisal of the watch. “The watch has obviously been worn,” wrote one. “There are many scuffs on the band and a light scratch on the front. How is it being called never-worn, new old stock?” And it didn’t take long for other users to jump in and voice their agreement.

Another person wrote, “The sticker and clasp shows at least a year of frequent wear, so you can’t call it new old stock/no wear like this appraiser does. Those stickers don’t get like that from sitting in a lock box.” Meanwhile, another user agreed that the segment was “total amateur hour by the ‘appraiser.’”

Nevertheless, an expert named Paul Botros backed up Planes’ valuation to Forbes in February 2020. “The watch appears exceptionally well-preserved and complete, and I’m in agreement with the appraisal,” he said. “It’s a watch that Phillips would be thrilled to offer at auction.” Indeed, a similar watch apparently sold for $425,000 at auction in December 2019.

So, when worn watches can fetch north of $400,000, it’s no wonder that David reacted the way he did to Planes’ appraisal. After all, he parted with a mere $345.97 for the watch all those years ago. As investments go, then, it’s performed pretty spectacularly. And, of course, it’s become a real moment to remember for Antiques Roadshow fans.