Elvis Presley Omega watch beats estimate by 162.5% in NY
A circa 1960 Elvis Presley Omega watch sold for $52,500 at a New York auction on June 12
Paul Fraser Collectibles, Wednesday 13 June 2012
An Omega watch worn by Elvis Presley during his army days has made a mockery of its estimate at a New York timepieces auction.
The rare Omega black dial constellation calendar watch, produced circa 1960, sold for $52,500, 162.5% above the $20,000 estimate on June 12.
Fashioned from stainless steel and featuring a pink gold capped chronometer, the wristwatch was auctioned with a letter of attestation from Elvis' close friend and consigner, Charlie Hodge - a factor in helping boost its price.
No doubt the key ingredient in the strong performance, however, was the Elvis name.
He was the world's second highest earning deceased celebrity in 2011, making $55m in the 12 months, and Elvis memorabilia is soaring in value.
His Martin-D28 guitar sold for $106,200 at a US auction in 2009, while a leather suit worn on stage in Las Vegas made $120,000 in 2008.
Elvis signed photos meanwhile have risen in value from £750 ($1,160) in 2000 to £3,250 ($5,020) last year, at a rate of 14.26% pa, according to the PFC40 Autograph Index. We have this superb autographed photograph of the king currently available.
The top lot of the sale was a Patek Philippe ref. 5016, which sold for $542,500 - well within estimate.
The 2001 watch featured a custom grey dial. Custom dials are only available to the watchmaker's most valuable clients, resulting in very few examples on the market.
A limited edition Jaeger Le-Coultre ref. 149.6.07.S Gyrotourbillion 1 also sold within estimate for $314,500.
We have this classic Longines Olympic Series watch, a superb buy for entry-level collectors.
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Images: Antiquorum Auctioneers