Israeli jeweler Chaim Schneider is selling a gold pocket watch for $1,450,000. The company listed the item for sale on eBay the internet based auction house. It is Patek Philippe 14 function Grande Complication Pocket watch of which only 12 were ever made. The present watch was sold to a US buyer in 1993 for 850,000 Swiss Francs. The pocket watch is been sold with the original bill of sale and the original leather and mahogany box
Dror Schneider the companies’ VP told The Jerusalem Post. “This is not an excessive price for such a unique and rare piece. A similar watch with two lesser complications was sold in Christie’s New York last June for $2.3 million.”
Why at eBay and not at one of the high-end auction houses such as Christies or Sotheby's? Schneider said that while eBay is not the only option, it has given them global exposure.