The "tiny" watch costs up to 38 billion VND, but the rich still spend money to buy it

A gold pocket watch found with the body of John Jacob Astor, the richest passenger on the doomed Titanic, has sold for a record £1.2 million (VND38.4 billion).

Henry Aldridge & Son auction house in Devizes, Wiltshire, England, sold the watch to a private collector in the US for the highest price ever paid for Titanic memorabilia.

The 14-karat gold Waltham pocket watch is engraved with the letters JJA.

World - The — The watch's original owner was businessman John Jacob Astor who went down with the Titanic in 1912 at the age of 47.

John Jacob Astor, 47, went down with the Titanic on April 15, 1912, after helping his wife into a lifeboat. Instead of trying another lifeboat, the wealthy businessman was seen smoking and chatting with another passenger on the ship during its final moments as it sank. His body, along with a gold watch, was found seven days after the Titanic sank.

According to the auctioneers, the highest price ever paid for items from the Titanic was £1.1m for a violin that was being played as the ship sank. The instrument was sold by the auctioneers in 2013.

A spokesman for the auctioneers said the £1.2m price included buyer’s fees and taxes. The violin case was also sold at the auction on 27 April for £360,000 including fees and taxes.

Expert Andrew Aldridge at the auction house said the incredibly high prices for Titanic memorabilia reflect not only the importance of the items themselves and their rarity, but also the enduring appeal and passion for the Titanic story.

The Titanic hit an iceberg on its maiden voyage from Southampton (England) to New York City (USA), killing 1,503 people.

According to expert Andrew Aldridge, Mr. Astor was believed to be one of the richest people in the world at the time of the Titanic's sinking, with a net worth of about $87 million - equivalent to several billion dollars today.

Minh Hoa (reported by Thanh Nien, Vietnam+)

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