A Rolex watch bought for £70 nearly six decades ago could fetch £45,000 when it goes under the hammer this week.

The historic 1963 Rolex Submariner timepiece was bought by Royal Navy search and rescue diver Simon Barnett while deployed in Singapore in 1964.

It remained on his wrist throughout his career, helping keep track of time while he was involved in a number of dangerous rescue missions. 

Eastern Daily Press: Simon F L Barnett, who served in the Royal Navy as a search and rescue diver, bought the Rolex for £70 while deployed in SingaporeSimon F L Barnett, who served in the Royal Navy as a search and rescue diver, bought the Rolex for £70 while deployed in Singapore (Image: Peter Barnett)

His son, Peter Barnett, has decided to sell the watch after experts on BBC's Antiques Roadshow last year valued it at between £50,000 - 60,000.

The 57-year-old from Diss, said: "I would wear it all the time and I felt very close to my father while wearing it. 

"But after finding out how much it was worth I couldn't walk around with £60k around my wrist.

"Unfortunately I stopped wearing it and kept it safe at home and have now decided to sell it."

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Eastern Daily Press: The 1963 Rolex Submariner was bought in Singapore in 1964The 1963 Rolex Submariner was bought in Singapore in 1964 (Image: TW Gaze)

While bittersweet, the appearance on the BBC show helped Mr Barnett piece together more of his father's career in the navy, with a number of former servicemen getting in touch to share the adventures they had with him.

One such mission was in 1967, when Mr Barnett was involved in a rescue and retrieval operation in the Mediterranean Sea after two aircraft accidents, during which he nearly drowned while attempting to free a trapped helicopter pilot from the submerged craft.

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Eastern Daily Press: Simon Barnett had to be rescued after nearly drowning while attempting to rescue a helicopter pilot submerged in the Mediterranean Sea after a crashSimon Barnett had to be rescued after nearly drowning while attempting to rescue a helicopter pilot submerged in the Mediterranean Sea after a crash (Image: Peter Barnett)

The watch can be seen in countless photographs taken of Mr Barnett during his time in the Royal Navy, capturing its place in naval history, and the sale is accompanied by a number of newspaper cuttings, letters and images.

The watch, a Rolex Submariner 5513, is going under the hammer on May 11 at TW Gaze auction rooms in Diss, carrying an estimate of between £30,000 and £45,000.