Elvis watch leaves the building for $45K



A watch formerly owned by “The King” of rock and roll has fetched almost four times its estimated price, while a recently discovered 40-carat rough ruby has sold at a record-breaking auction.

The Omega constellation calendar wristwatch that once belonged to rock and roll icon Elvis Presley sold for US$37,500 (AU$45,618) at Antiquorum’s Important Modern and Vintage Timepieces auction, held on Thursday 11 December in New York.

The stainless steel and pink gold-capped chronometer timepiece, which dates back to around 1960, was originally estimated to sell for between US$10,000 (AU$12,171) and US$20,000 (AU$24,344).

The wristwatch was accompanied by a letter of attestation from Charlie Hodge, an American musician and close friend of Presley’s. The letter noted that Presley gave Hodge the watch as a gift after Hodge repeatedly expressed his admiration for the piece.

Antiquorum president and CEO Evan Zimmermann said he was delighted by the sale. “The outstanding outcome confirms that collectors continue to look for timepieces with exceptional provenance, adding immeasurably to their value and collectability,” he commented.

Gemfields sells ‘exceptional’ rough ruby
Meanwhile, UK-based gemstone mining company Gemfields has sold a 40.23-carat rough ruby for an undisclosed amount during an auction held from Wednesday 3 to Monday 8 December in Singapore…

As previously reported by Jeweller, the company uncovered the gemstone at its Montepuez mine in Mozambique, Africa at the end of November.

The ruby was dubbed the Rhino Ruby in recognition of Gemfield’s commitment to supporting the anti-rhino poaching initiative, Game Reserves United.

“I am very pleased that the sale of our exceptional 40.23-carat African ruby will assist in countering rhino poaching,” Gemfields CEO Ian Harebottle said. “Due to the size and character of this ruby, and the sheer magnitude of the challenge of protecting African rhinos, my colleagues and I have named it the ‘Rhino Ruby’ and we look forward to following its progression from its current rough form all the way through to a faceted gem and finally being set in a magnificent piece of jewellery.”

The auction at which the ruby was sold generated US$43.3 million (AU$52.7 m) – the highest amount ever achieved at any Gemfields auction. The mining company also set another in-house record by achieving an average price of US$689 (AU$839) per carat.

Resource : jewellermagazine.com

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