A dog walker who spent two years thinking he owned a £100,000 piece of rare whale vomit has discovered the pungent rock is actually worthless . Ken Wilman thought he had found 'floating gold ' when he stumbled across what he believed was a 3kg lump of the highly sought-after ambergris on the beach in Morecambe , Lancashire . But his dream of netting a small fortune has now been shattered after an expert in the U.S revealed the 'stone ' is not authentic ambergris - and has absolutely no value . Scroll down for video . Ken Wilman , 52 , thought he had discovered a £100,000 piece of rare whale vomit when he found this yellow-grey rock washed up on the beach in Morecambe , Lancashire , while working his dog Madge . An expert in the U.S believes that the pungent rock has absolutely no value and is not authentic ambergris . Ambergris , or 'grey amber ' , is the intestinal slurry of sperm whales , which they eject into the ocean - usually when they have a stomach or throat problem . The substance can then float around undiscovered for years in the water , where it hardens and develops into a smooth lump of compact rock which feels waxy and has a sweet smell . It is this aromatic quality which makes it is used in perfumes such as Chanel Number 5 . Mr Wilman said : 'If I had my time over again , I would kick the rock to one side and walk away . I wish I 'd never found it . I 've got to accept what happened and get on with it . ' The 52-year-old was walking his boxer dog Madge along the beach in January 2013 when he stumbled across what he believed to be the rare item . The highly sought-after Ambergris , or 'grey amber ' , is the intestinal slurry of sperm whales , which they eject into the ocean - usually when they have a stomach or throat problem ( file picture ) Ambergris is the intestinal slurry of sperm whales , which they eject into the ocean - usually when they have a stomach or throat problem . The substance can then float around undiscovered for years in the water , where it hardens and develops its distinctive odour . The decades of floating and exposure to sun and salt will then turn the matter into ambergris , a smooth lump of compact rock which feels waxy and has a sweet smell . It is that quality which means it is highly sought-after with perfume makers , who use it to prolong the scent of perfume . Although ambergris is still an ingredient in perfumes today , producers usually remove it from their product because of the legal ambiguities surrounding its use . As it comes from sperm whale , which is classed as a vulnerable species , cosmetic companies tend to shun using it because it is associated with whaling . But the sweet-smelling sick has been used in a variety of other ways throughout history . Ancient Egyptians reportedly found a use for it by burning ambergris as incense . The country still uses it today for scenting cigarettes . During the Black Death in Europe , worried people also thought they could thwart the plague by carrying a ball of ambergris because the vomit masked the smell , which they thought was the root of the illness . It is rarely found on British beaches , usually being washed up in America and Australia . A French dealer offered him 50,000 Euros if it turned out to be real , while some experts said it could be worth double that quote . But the true value of the stone was discovered when documentary maker Peregrine Andrews -- who produced a Radio 4 show called Ken , Madge and the Strange Rock following the find - sent a sample to an expert across the Atlantic . Christopher Kemp , an American author who wrote a book about ambergris , then broke the news that it was definitely not whale vomit . To add to Mr Wilman 's heartbreak , his beloved dog has also passed away since he made the discovery . Mr Andrews said : 'He ( Christopher Kemp ) emailed me back and said it 's definitely not ambergris , although he did n't know what it was . 'Then I had a text from Ken telling me Madge had died . He was in complete shock and then I had to tell him it was n't real ambergris . ' Mr Andrews has since contacted a dealer in New Zealand who has promised to send Mr Wilman a 2g piece of real ambergris . Although it is virtually worthless , Mr Wilman is delighted at the gesture . He said : 'When Peregrine told me , I nearly broke down . I cant believe there are nice people in the world , like this lady , who feels sorry for me and wants to send me a piece of ambergris . ' I 've kept a level head about things and I 'm trying to find humour in the situation . ' Although it is rarely found on British beaches , eight-year-old Charlie Naysmith discovered a 600g piece after taking a stroll along Hengistbury Head , near Bournemouth in 2012 . Beachcombers Sean Kane and , 24 , and Ian Foster , 39 , also discovered a 110lb of whale vomit washed up on the beach in Criccieth , North Wales , in 2008 . In 2006 a couple walking on an Australian beach found a 32-pound chunk of ambergris , which netted them $ 295,000 ( £155,000 ) .
captain Wilman encountered yellow - grey rock while on the beach with his dog Madge . He thought 3 kg lump was the sought - after ambergris from sperm whales . But U.S expert said the lump , found in Morecambe , Lancs , is not ambergris . A dealer in New Zealand is named Mr Wilman , 52 , a 2 g lump as a lump .