Titanic tycoon John Jacob Astor’s Patek Philippe pocket watch set for auction
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John Jacob Astor IV's Tiffany & Co-signed Patek Philippe pocket watch (right) and a gold-and-sapphire pencil case will be auctioned by Freeman's on April 22.
PHOTO: FREEMANSAUCTION/INSTAGRAM
A Patek Philippe pocket watch carried by one of the richest men in the United States during the sinking of the Titanic will be auctioned for the first time, more than a century after the disaster. The 18-karat gold timepiece – sold by American jeweller Tiffany & Co and engraved with financier John Jacob Astor IV’s monogram – will be offered by Freeman’s Auction, the US’ oldest auction house, at its Chicago watches sale on April 22.
“This single object unites four extraordinary names – Astor, Patek Philippe, Tiffany and Titanic,” said Mr Reginald Brack, senior vice-president and head of department for watches at Freeman’s.
“That also gives it a particular place within both American luxury history and Titanic history, so it is the perfect combination for a luxury historical horological collector to get excited about.”
The pocket watch is estimated to fetch between US$300,000 (S$384,560) and US$500,000. It will be sold alongside a gold-and-sapphire pencil case retrieved at the same time, which may go for between US$10,000 and US$20,000.
The pieces were recovered from Mr Astor’s body by the crew of cable ship Mackay-Bennett days after the famed vessel sank in April 1912, and were returned to his son Vincent, who wore the watch until his death in 1959. The objects were passed down through four generations of the family, and are now being put on the block by the estate of Charlene Marshall.
“The right steps were taken immediately to salvage this treasure for future generations,” said Mr Brack.
Mr Astor, the wealthiest passenger aboard the Titanic, helped his pregnant 18-year-old wife Madeleine into a lifeboat on the night of April 14, 1912, before stepping back as the evacuation continued.
The couple were on the way back from their honeymoon. Mr Astor perished when the ship sank early the following morning.
The businessman, inventor and writer was a member of the prominent Astor family, whose fortune was built by his great-grandfather through the fur and opium trade, as well as real estate. Mr Astor then grew it through hotels, including New York’s famed Waldorf Astoria.
His watch, purchased from Tiffany & Co in 1904, is accompanied by an extract from the Patek Philippe archives confirming its manufacture and sale date, a rare authentication for such a historical piece.
Such cultural, historical artefacts usually do extremely well because of their rarity, according to Mr Brack. BLOOMBERG
