We say it time and again, a good watch holds its value — not just for a few years, but easily for a century or longer. Recent auctions are a prime example. One auction that was held by Boston-based RR Auction witnessed the sale of items owned by notorious gangster Al Capone.
A diamond-studded, unusually shaped pocket watch that had belonged to Prohibition-era mob boss sold for an impressive $84,375. The timepiece was a triangular platinum-cased watch with cushioned corners. It was made by Illinois Watch Company and the bezel was set with 72 diamonds. The case back reveals the movement within and has the initials AC engraved on it. The watch was sold with its original 12-inch watch chain made in 14-karat white gold.
Interestingly, Capone had incredible style, and was often seen wearing fedoras, tailored suits, the best shoes and even jewelry. The watch was a natural fit. The watch was accompanied by a letter of provenance from Capone's great grandson. So, hold on to those watches and continue to look for special pieces that will bring enjoyment and value for decades to come.
It is fun to note that at the same auction, a three-headed snake ring owned by Bonnie Parker (of the famed Bonnie and Clyde duo) sold for $25,000, and Capone's hand-written musical manuscript (Humoresque) that Capone penned while in Alcatraz sold for $18,750.