A watch that showcases the glamorous, opulent lifestyle enjoyed by America’s most notorious gangster will be auctioned in New York next month.
Al Capone’s Patek Philippe pocket watch is expected to realise as much as $160,000 at Sotheby’s Important Watches sale on June 10.
Capone was the New York-born chief of the Chicago Outfit, an Italian-American-run crime family.
Capone in a Florida police mugshot. He was a high-profile figure who did little to hide his wealth and was eventually defeated by tax laws.
His involvement in violent inter-gang conflict – typified by the St Valentine’s Day Massacre – over illicit alcohol sales during Prohibition in the 1920s gave him a nationwide reputation.
He was imprisoned for tax evasion in 1932 and died in 1947.
His gang was violent and ruthless, but Capone enjoyed attention. He lived a rich public life that showcased the proceeds of his profitable criminal empire and also his willingness to share some of the spoils with Robin Hood-like support for Depression hit Chicagoans.
He was obviously fond of this watch, a circa-1919 Patek Philippe pocket watch that had his initials written in diamonds on the rear of the case, which was itself a specially commissioned platinum addition to the watch.
Diamond initials and a platinum case show that Capone loved the watch, though it’s lost a hand over the years. Image courtesy of Sotheby’s.
Sotheby’s say the watch has suffered some damage over the years. Their description says: “The dial has dramatically aged over the years, and the minute hand is no longer with the watch—we can only speculate as to how or why this happened, but suffice it to say, this watch has more than a few stories it could tell.”
The watch has been sold before, auctioning for $229,900 in 2021. A great return against a $50,000 pre-sale top estimate.
Patek Philippe watches are among the most exclusive and expensive in the world, both as new items (for which there is a waiting list) and as historic pieces.
A Patek Philippe Grandmaster Chime made $31.1 million in 2019 to become the most valuable watch ever sold at auction.
Although most modern collectors focus on wrist watches, pocket watches are still valued by collectors – and still made by some of the most prestigious makers.
In 2014 a Patek Philippe Henry Graves Supercomplication achieved $24 million at auction.
