Hidden Treasure

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By: Jonathan Primo Fuego Galicia, CFO of CFS

I remember coming across an incredible article in 1987 about a rock collector named Rob Cutshaw. He owned a little roadside shop outside Andrews, North Carolina. Cutshaw hunted for rocks on the weekends and would then sell these rocks to other collectors or jewel makers. He knew enough about most rocks to decide which ones to pick up and sell, but he was admittedly no expert. During a dig in the mountains of North Carolina one day, Cutshaw found a rock that he described as “big and purdy.”

He tried unsuccessfully to sell the stone for a few months. Without any offers at his roadside shop, he stored the rock away in a box in his garage with several other stones that had not sold at his shop. Years later, when cleaning out his garage, he saw the big bluish chunk of rock in the forgotten box and thought that it might still be worth $50 or $75. Before he took it back to his stand, Rob took the rock to an appraiser and received the surprise of a lifetime. The bluish stone that Rob had abandoned to his garage is now known today as “The Star of David” sapphire – weighing almost two pounds and valued at more than $5 million dollars today. Do you have a hidden treasure sitting in the dark? #venturecapital #worth