Ken Wilman, 50, was walking along Morecambe beach in northern England when his dog, Madge, discovered a large, hard smelly rock.
Upon returning home he looked the object up online and realised that Madge may have found ambergris, a waxy by-product of sperm whale digestion that has traditionally been used in perfumes, spices, and medicines.
Mr Wilman went back to the beach and brought the rock to home immediately.
After contacting companies in Europe, he learnt the musky material could be worth as much as £100,000.
Ambergris has been used in fragrances for centuries and is a component of many popular perfumes.
