For Immediate Release

High definition images can be downloaded from: www.antiquorum.com

Historical Objects Belonging to Mahatma Gandhi Sell For $2,096,000 at Antiquorum March Auction.


New York, March 6, 2009 – Antiquorum Auctioneers sale of Important Collectors’ Wristwatches, Pocket Watches & Clocks realized the impressive sum of $8,707,724. The auction room was unusually overflowing with collectors, enthusiasts of horology and members of the press—curious to see the outcome of the bidding on Mahatma Gandhi’s pocket watch and personal belongings. The excitement and anticipation was felt around the world and started to build as soon as Antiquorum announced the highlights of the sale a month ago. Over 500 online bidders, in addition to room and telephone bidders, bought modern and vintage watches at 142% of their low estimate resulting in 75% of all lots sold.

“Our March 4th and 5th auction confirms the continuous enthusiasm on behalf of collectors for watches with historical significance and exceptional timepieces. Despite continued global economic concern, we have achieved tremendous results for our first auction of 2009,” said Evan Zimmermann, President and CEO, Antiquorum.

The star lot was indisputably Gandhi’s pocket watch, sandals, glasses, bowl and thali, which sold for an astounding $2,096,000. The sale of the spiritual and political leader of India’s possessions has stirred global interest and has been closely covered by the press as well as collectors and supporters of Gandhi worldwide. Ultimately, the lot went to a prominent Indian businessman who intends to bring the items back to India for permanent public display.

“Antiquorum is pleased that the objects attributed to Mahatma Gandhi, one of the greatest spiritual and political leaders of the 20th-century will be returning to India. We know that this was the hope of the Indian people, as well as many others around the world. As the world’s premier horological auction house for the past 35 years, Antiquorum safeguards the interests of all involved – consignors and buyers, alike. In the case of today’s high-profile auction of Gandhi’s pocket watch and personal artifacts, which realized $2,096,000, our commitment to this process and our reputation as auctioneers has insured a fair, and we believe, positive outcome,” said Robert Maron, Chairman Antiquorum.

Another extremely significant political leader’s watch, that of President John F. Kennedy, America’s 35th President, which not only belonged to JFK, but also to the Greek shipping magnate, Aristotle Onassis fetched a notable $120,000. The "Kennedy Onassis” watch is the only known item connecting JFK, Jacqueline Kennedy and Aristotle Onassis. In keeping with the theme of historically important timepieces, Antiquorum looks forward to offering President Franklin Delano Roosevelt’s Tiffany-Movado watch in the upcoming June sale in New York.

Another watch of great significance in the sale was the Patek Philippe Henry Graves' unique platinum minute repeater which sold for an impressive $630,000. The watch belonged to the late Henry Graves Jr. who inspired Patek Philippe to create some of their most complicated watches to date.

“We’re astounded by the results we see here today,” said Julien Schaerer, Watch Expert & Auctioneer, Antiquorum USA. “We were especially pleased by the price achieved for the Henry Graves watch which is a true reflection of collector’s admiration for rare Patek Philippe timepieces with provenance”.

Furthermore, the “Giuseppe Bonanno” 1950’s Patek Philippe watch drew considerable attention from collectors and “Godfather aficionados.” Mr. Bonanno was an original member of the “Commission” whose purpose was to establish rule by consensus amongst the New York crime families and is thought to be the inspiration for the character of Vito Corleone in Mario Puzo’s “The Godfather”. The watch which sold for $36,000 at the sale was given to Bonanno by “Lucky” Luciano in 1957 in Sicily.

In addition, several other Patek Philippe timepieces achieved excellent results. The Ref. 5016 in yellow gold, lot 536, fetched $ 494,000. While the “TV Watch” in white gold, Ref. 5020 (lot 526) sold for an incredible $ 180,000. Also, the Ref. 3970 in white gold (lot 525) attained $ 108,000. Finally, the yellow gold “ Celestial” wristwatch (lot 120) achieved the significant sum of $ 186,000.

Audemars Piguet also realized exceptional results; the “End of Days” (lot 435) sold for a notable $ 42,000. Cartier also faired well in the auction with the Art deco desk alarm clock which sold for $32,400, three times its’ pre-sale estimate

Highlights of Antiquorum’s March 4th & 5th auction are as follows:

Lot 525
White Gold 3970 Patek Philippe, Genève, Ref. 3970E. Made in 1998. Very fine and important, water-resistant, 18K white gold wristwatch with round button chronograph, register, perpetual calendar, moon phases.

Sold including buyer's premium: $108,000

Lot 256
Yellow Gold Ref. 3971 E Patek Philippe, Genève. Made in 1990, sold on July 12th, 1990. Very fine and rare, astronomic, 18K yellow gold wristwatch with round button chronograph, registers, perpetual calendar, moon phases

Sold including buyer's premium: $96,000