From my last post, I mentioned going to New York at the beginning of the week to buy a book at Tiffany & Co and to see the previews of the auctions at Christie’s and Sotheby’s. As I wait for the dust to settle on the auctions, I want to point out a piece I saw while at Christie’s that I had seen before. I went to view the Exceptional Watches at Christie’s after seeing the Magnificent Jewels. I like historical pieces and found a few watches that were owned by famous people. One was a pocket watch owned by former President Franklin D. Roosevelt; the other a Cartier tank watch owned by former first lady Jackie Kennedy.
You may remember this watch featured prominently in articles a little over a year ago when it was auctioned in June of 2017. It also made headlines when the highest bidder was identified as Kim Kardashian. I will be honest, that news did not make me happy. Seeing this watch that belonged to a classy, dignified woman now owned by a woman that would not know class or how to spell it if her life depended on it was a bit depressing. Imagine my surprise and delight to see the watch back in the case at Christie’s on Monday!
I shared the find with my friend and fellow blogger Jill of Everything Just So, who wrote an amazing article on Jackie Kennedy’s Cartier watch when it was auctioned last year, click here to read her piece and see some great detailed photos!
I went back online to see if I could find more details to Jackie Kennedy’s Cartier watch and came up short. I decided to write Christie’s about seeing the watch and got the answer I was looking for. It was for sale but is not being auctioned. It is going through Christie’s Private Sales to find a buyer. I would need to contact a specialist if I was interested in purchasing it, I did not go any further in my contacts, so I do not know what price the seller is looking for or why it is for sale.
Here are some details from the auction in June 2017.
As you can see the watch went for over 3 times the high estimate (buyer’s premium included).
If this was an investment piece, I feel it is a little early to turn it back to the market. I have looked at some articles on investing in watches. This one answers the question Are Watches a Good Investment? I know that luxury goods like handbags are a way to diversify your investments. The other article I looked at lists 12 Things to Consider before Investing in Watches. The last point being patience when selling.
I hope this watch finds a better home. My hope is that the John F. Kennedy Presidential Library and Museum purchases it and lets the world share in another piece of Camelot history.
Let me know your thoughts on Jackie Kennedy’s Cartier watch. Do you invest in watches or other luxury goods? Return for more Data in the Rough, as I look at the auction results with a deeper analysis next week!