Heritage Auctions

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Press Release - June 11, 2010

New Tuesday Internet Wholesale Watch Auctions at Heritage now running

No reserve weekly auctions featuring high quality timepieces in Heritage’s newest venue

DALLAS, TX – Heritage Auctions (HA.com) has announced the launch of a new weekly series of Internet Wholesale Watch Auctions, with each auction ending on Tuesday night – beginning with this Tuesday, June 15 - and the next one opening the following day.

“We’re confident this weekly watch auction will prove a ‘must follow’ event for watch collectors of all levels,” said Jim Wolf, Director of Fine Timepiece Auctions at Heritage. “The best part of the auctions for collectors will be that every watch is offered with absolutely no reserve.”

Numerous 21 and 23 jewel American factory railroad grade models will be offered in every sale, all starting at $1. Classic models in this series are the Hamilton 992 and 950 grades, Illinois Bunn Special and Sangamo models and the workhorse watches of the railroad industry, the Waltham Vanguard series and the Elgin B.W. Raymond models. High quality American railroad watches like these, which cost nearly $100 back in the 1930s can be bought in the $200 to $300 range in these auctions today.

“The American railroad approved timepieces were instrumental in the development of industry and transportation in the United States from the 1880s to the 1950s,” said Wolf. “These superior factory made timepieces hold an intrinsic value, not only as premier mechanical instruments, but as historical links to the past.”

Exquisite turn of the century fancy engraved ladies gold hunter’s case watches will also be found in every sale, along with interesting Swiss and European watches in solid gold cases. For collectors with the ethos that “more is better,” each sale will also present numerous multi watch lots, also at no reserve.

The wristwatch selections will be highlighted by hard to find men’s vintage models. Brand names already lined up for this series include Rolex, Omega, Gruen, Hamilton and early Bulova Accutron models. In ladies watches there are reasonably priced, no reserve, elegant diamond and gold dress watches from the 1940s and ‘50s.

“This is another area of the watch market that is tremendously undervalued,” said Wolf. “Many of these beautiful watches were destroyed long ago for their metal content. People don’t realize they will never be produced again and should have been preserved. Now they represent one of the best buying opportunities in this series of auctions.”

Heritage is making a point of stocking each auction, every week, with a wide variety of watches, all aimed at creating a new Heritage venue that is an open marketplace for watch collectors unlike any other being offered today.

Heritage Auctions, founded by Steve Ivy and Jim Halperin, is the world’s third largest auction house, with annual sales more than $600 million, and 500,000+ registered online bidder members. For more information about Heritage Auctions, and to join and gain access to a complete record of prices realized, along with full-color, enlargeable photos of each lot, please visit HA.com.

Want to get the up-to-the-minute updates and breaking news stories about Heritage Auctions? Get them as they happen at: Twitter.com/HeritagePress; Twitter.com/JimHalperin; Facebook: Heritage Auction Galleries. To view a compete archive of Heritage press releases go to: HA.com/PR. To link to this press release on your blog or Website: HA.com/PR-1854.

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