A gold pocket watch that John Jacob Astor IV was wearing on board the Titanic when the ship sank in 1912 sold at auction Wednesday in Chicago for $800,000.
Freeman’s, the West Loop auction house handling the sale, had predicted the timepiece would fetch between $300,000 and $500,000. The watch buyer is an Irish businessman, according to Freeman’s.
A gold pencil case also recovered from Astor’s body went for $160,000, after fierce bidding that started at $22,500.
“These results show a rare convergence of history, craftsmanship, and human narrative,” said Reginald Brack, SVP, Head of Department, Watches at Freeman’s. “It is uncommon to find property that unites four significant names — John Jacob Astor IV, the RMS Titanic, Tiffany & Co., and Patek Philippe. Each has its own legacy, but together they tell a unique and moving story. The market’s response confirms these objects’ emotional and historical significance to collectors worldwide.”
Astor bought the watch from Tiffany & Co.’s flagship store in New York. It is engraved with his initials and keeps good time, according to Freeman’s.
Astor was arguably the most famous person on board the Titanic and certainly the wealthiest. He was a New York real estate baron traveling back to the United States from a months-long holiday in Europe with his pregnant wife, Madeleine Astor.
She boarded a lifeboat and survived; he had hoped to climb aboard the same lifeboat, but was told at the time that only women and children were allowed. His body was among the 330 plucked from the North Atlantic. He was found wearing a life jacket.
Little information was made available Wednesday about the winning bidders for either the pocket watch or the pencil case. The timepiece went to a bidder calling in by phone. The pencil case went to an online bidder, who had bid for but lost out on the watch.
Both items were offered as part of the estate of distant Astor relative Charlene Marshall, who died last year.