Watch of richest Titanic passenger sells for R27.8 million

A gold watch found on the body of the richest passenger on the Titanic was auctioned in England for £1.17 million (R27.8 million) on Saturday.

It was a record sum for an object linked to the notorious 1912 shipping disaster, said auctioneers Henry Aldridge & Son.

A US buyer won the bidding war, smashing the auctioneer’s pre-sale estimate of between £100 000 and £150 000.

Titanic sank on April 15, 1912

The watch, engraved with the initials JJA, belonged to the US business magnate John Jacob Astor.

Astor was 47 when he died as the Titanic sank in the early hours of April 15, 1912.

He was reputed to be one of the richest men in the world at the time.

He died after having helped his wife, Madeleine, on board one of the lifeboats. She survived the disaster.

Astor’s body was found a week after the disaster, with the watch among his personal belongings.

“The watch itself was completely restored after being returned to Colonel Astor’s family and worn by his son,” said a statement from the auction house.

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By Garrin Lambley © Agence France-Presse