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Press Release - March 23, 2017

Forgotten Vintage Timepieces from Vault Offered After 40 Years; Proceeds Go to HSNY Endowment Fund

Heritage Auctions and Horological Society of New York Join Forces for Inaugural Gala and Charity Auction

Patek Philippe Gold Wristwatch
NEW YORK, New York (March 22, 2017) — Dormant in a forgotten vault at the Horological Society of New York for over 40 years, a trove of vintage wrist and pocket watches will be wound again and put into the auction spotlight by Heritage Auctions on April 3, with live bidding underway now for the Horological Society of New York Benefit Auction. Final bidding will be conducted live during the HSNY's 151st annual Gala & Charity Auction, at the General Society Library, 20 West 44th Street, between Fifth Avenue and Sixth Avenue, New York, New York. The current board has re-discovered these treasures, and through deliberation has decided to use them to commence with a new annual charity auction tradition to begin and support the HSNY Endowment Fund.

"It's a remarkable find. These great watches by Patek, Audemars Piguet, Piaget and others were of modest value when donated to the Society, where they were consigned to a vault and forgotten, oblivious to the skyrocketing market outside," commented Heritage Auctions watch expert Michael Fossner, who expects the collection to sell in excess of $10,000.

The collection includes an enamel Horological Society of New York pin that was not in the vault with the four timepieces but is one of the few remaining vintage enamel pins from the society as well as four vintage timepieces. Two wristwatches are featured including an Audemars Piguet 18K Gold Square Wristwatch Ref. 5128BA Signed Tiffany & Co. Circa 1960 and a Patek Philippe Ref. 3514 18k Gold Automatic Wristwatch. A pair of unique pocket watches round out the quintet of horological items offered including a Audemars Piguet 18K Gold Ultra-Thin Pocket Watch Signed Tiffany & Co. Circa 1959 and a Piaget $20 Saint Gaudens Gold Coin Watch Signed Cartier.

All five items are offered without buyer's premium and online bidding will take place until the day of the HSNY's 151st Annual Gala & Charity Auction. The auction will conclude with final bidding commencing live in the room the night of the Gala which will be held from 6:00-9:00 p.m. on April 3. All proceeds from this event go towards the Horological Society of New York's ongoing educational programs, and the Horological Society of New York's Endowment Fund. The Horological Society of New York is a registered 501(c)(3) non-profit organization, federal tax identification number 13-6139887.

Heritage Auctions is the largest fine art and collectibles auction house founded in the United States, and the world's largest collectibles auctioneer. Heritage maintains offices in New York, Dallas, Beverly Hills, San Francisco, Chicago, Palm Beach, Paris, Geneva, Amsterdam and Hong Kong.

Hi-Res images available:
Elon Werner, Director of Communications

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