Tiffany & Co. has been revealed as the buyer of the record-breaking $1.97 million Titanic watch sold at auction in November, according to Robb Report.
The auction of the gold pocket watch, produced by Tiffany and given to Sir Arthur Rostron of the RMS Carpathia by survivors he rescued in 1912, marked the highest price paid for a piece of Titanic memorabilia. At the time, the buyer was unknown.
Rostron was famous for rescuing more than 700 passengers from the Titanic.
“Tiffany & Co. jewelry and objects have been a cornerstone of global luxury since the mid-nineteenth century, and that Tiffany was entrusted to help give thanks in the wake of the unthinkable Titanic tragedy reminds us of our humble role in the lives of our clients,” Tiffany & Co. executive Christopher Young told Robb Report. “Captain Rostron’s pocket watch is an incredible expression of thanks and gratitude, and we are humbled to welcome this extraordinary treasure home to Tiffany & Co.”
Luxury brands like Tiffany buying back their treasures is far from new. Watch companies such as Audemars Piguet had departments dedicated to archiving and sourcing the acquisition of their brand’s historic timepieces for museum display and preservation. In 2009, Rolex dished out more than $130,000 for one of the few Rolex watches to ever reach the moon.
Will Stern is a reporter and editor for cllct.