Ambergris Found By British Boy Could be Worth $60,000: What is this Strange Find? [VIDEO]

A young British boy may be rich after finding ambergris on a beach. Ambergris may sound like a rare jewel, but it's really just whale vomit that solidified after many decades. Despite how gross that sounds, the discovery may be worth up to $60,000.

Eight-year-old Charles Naysmith, of the English coastal town Christchurch, was on a nature walk with his parents along Hengistbury Head, near Bournemouth when he stumbled upon what looked like a cool rock. After doing some research, his parents discovered that the yellowish, waxy rock isn't a rock at all. It's a 600 gram piece of hardened sperm whale vomit, also known as ambergris.

Ambergris is a secretion from the intestines of sperm whales which is theorized to help hard or sharp items pass through the animal's digestive tract. It is usually passed through fecal matter, but large masses are sometimes expelled through the mouth of the whale, giving it's reputation as 'whale vomit.'

Ambergris can actually be useful. After floating in the ocean and being exposed to the sun and salt for many decades, the waxy lump, which first forms in the digestive tract of sperm whales, develops a surprisingly sweet smell. The substance is in high demand by perfume makers as it can be used in perfumes to prolong their scent. If Naysmith sells the rare find, he could earn as much as $60,000. A pound of the material sells for up to $10,000.

Naysmith isn't quite sure what he'll do with the solidified whale vomit just yet, but he is interested in using any money that he makes towards building an animal shelter, according to the Bournemouthe Echo.

For now, the young boy and his parents are trying to find out more information about the rare find.

"He is into nature and is really interested in it," the boy's father, Alex told the Echo. "We have discovered it is quite rare and are waiting for some more information from marine biology experts."

So far, they've learned that it is highly unlikely that they'll find any more of the substance in the area. Ambergris usually washes up on American and Australian beaches.

In recent times, the perfume industry has turned to synthetic versions of ambergris because the material is seen as a by-product of harmful whaling practices.

Naysmith isn't the only one to find ambergris in recent years. The Daily Mail reports that in 2008, Sean Kane, 24, and Ian Foster, 39, both from North Wales, found a whopping 110lb chunk of whale vomit, which could have been worth up to $790,000.