Forgotten watches discovered in vault could top $10,000 at Heritage

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2017-03-24 15:28:03

A collection of vintage watches from a long-forgotten vault could sell for more than $10,000, after being rediscovered in New York.

The watches were originally bequeathed to the Horological Society of New York more than 40 years ago, and were placed in a storage vault for safekeeping.

However, over the intervening years they were forgotten amongst the Society's archives, and the vault remained unopened for decades.

The four timepieces will now be sold to benefit the newly-created HSNY Endowment Fund, during an inaugural charity auction and ball in New York.

"It's a remarkable find," said Heritage Auctions watch expert Michael Fossner. "These great watches by Patek, Audemars Piguet, Piaget and others were of modest value when donated to the Society, where they were consigned to a vault and forgotten, oblivious to the skyrocketing market outside."

The long-lost collection is comprised of two wrist watches and two pocket watches.

First up are two Audemars Piguet timepieces, both signed by Tiffany & Co.: an 18K Gold Ultra-Thin Pocket Watch, circa 1959, estimated at $1,000 - $1,500; and an 18K Gold Square Wristwatch Ref. 5128BA, circa 1960, estimated at $1,000 - $1,500.

Then there's a Piaget $20 Saint Gaudens Gold Coin Watch signed by Cartier, expected to sell for $2,500 - $3,500.

And topping the HSNY Vault Collection is a 1960s Patek Philippe Ref. 3514 18k Gold Automatic Wristwatch, valued at $6,000 - $8,000.

The Heritage sale will take place at the General Society Library, as part of the HSNY's 151st annual Gala & Charity Auction on April 3.

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