BBC Antiques Roadshow crowd gasps as expert unveils staggering value of 'exceptionally rare' watch

The guest who owned the watch explained he had bought it in 1968, to which Price replied: "So what the collectors call 'pre-Moon' - which is fantastic."

As he looked at a photo of the guest when he was younger, Price inquired: "What were you doing at that stage of your life?"

"I was in the Navy for about a year and a half and I was just coming up to my 21st birthday and my parents said, 'What would you like for your 21st birthday?'

"I said, 'A really nice watch.' The chap I was talking to in the ship's shop said, 'If you want an Omega... when we get to Hong Kong, I'll be able to take you to the wholesaler.'"

"Was this the ship you were on?" the expert quizzed as he spotted a postcard with a large ship on the front.

"That was a postcard I sent to my parents from Cape Town," the guest confirmed before he flipped the card over and read aloud the message on the back: "'I've seen a watch that might cost about £45.'"

Price summarised: "You got to Hong Kong, you purchased this watch just thinking it was an Omega Speedmaster?"

The watch owner also had the original receipt he was given at the time, prompting Price to add: "So, you paid the duty and this is the proof this watch has always been yours used by you... Now, it is in slightly scruffy condition."

After asking how long he'd used it for, the guest responded: "I used it daily constantly up until about 1983. I was sailing dinghies quite a lot so it got a bit of abuse."

Price eventually revealed how unique the item was, commenting: "Now, let me tell you right from the word go - this red seconds hand is an exceptionally rare thing to find on a Speedmaster and it is the model we refer to as the Ultraman.

"It was made in 1968, only for a few months and most of them went out to the Far East. It was £45 you told me, and what were you earning?"

After revealing his salary, Price remarked: "£10 a week, so about a month's salary. How do you think it’s performed today?"

"It’s probably done pretty well but I’m not sure," the guest confessed.

Price then revealed all: "I'm not going to stick my neck out too much... But I'm going to say without any hesitation as it's so rare - £30,000 to £40,000."

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The crowd collectively gasped as the blown-away guest placed a hand to his mouth in disbelief.

"I trust that's more than a month's salary for you now," Price quipped, to which the shocked owner replied: "Just a bit!"

Grasping the watch again, Price cemented the importance of the watch as he enthused: "I'm just going to hold it because I will never in my lifetime hold another.

"It's so rare."