A very rare watch sold for $1.5 million at auction a few days ago, a 14-karat gold heirloom belonging to John Jacob Astor IV, the man who opened the Waldorf Astoria hotel in Manhattan and died on the Titanic. His pocket watch, along with his body, was discovered shortly after the disaster.
The man purchasing Astor’s timepiece was Patrick Grunh, a cryptocurrency entrepreneur and former top FTX executive. He intends the watch as a gift for his wife, a history enthusiast and Titanic obsessive. “She’s always been keen to own some piece of it,” he told me.
Grunh’s acquisition comes awash in irony—the survivor of an infamous corporate shipwreck buying a souvenir from a famous actual shipwreck. (And somehow the watch still works!) What’s even more amusing is his general stance on investing…Story continues…
By : Abram Brown
Source: Weekend: FTX and the Shipwreck Treasure — The Information
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