Wednesday, November 26, 2008

Antique Watches: The New 401k?

With the roller coaster like stock market these days, one of the surest places to put your money is in antique watches. Looking at the results of the first Fall Antiquorum watch auction held on Oct. 16, things don't seem to be affected by the falling Dow at all.
One of the most interesting pieces to sell at the auction was a watch by Longines given to world famous physicist Albert Einstein by the Jewish community of Los Angeles in 1931. The 14k tonneau shaped watch was engraved with Einstein's name and date on the back of the watch. The estimate for the piece was $25,000-35,000 and it ending up selling for an incredible $596,000 -- over 2000% of its estimate. Below is a picture of Einstein rocking his prized watch in 1933.


Anonymous said...

I'm not investing my money in a old watch. I wouldnt feel right. hahaha!!!!


Looks kinda raggedy to me lol