Babe Ruth's 1923 series watch going to NY auction

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NEW YORK - Babe Ruth's 1923 World Series championship watch, believed lost to history, is coming to a New York City auction.

The pentagonal gold timepiece is expected to fetch at least $750,000 at Heritage Auction's Feb. 22 sale.

Ruth had the gold timepiece until shortly before his death in 1948, when he gave it to friend Charles Schwefel. Two years later, the watch went to Lewis Fern, Schwefel's nephew and Ruth's golf caddy.

In 1988, the watch was sold privately to a sports collector, who's now selling it.

Chris Ivy, Heritage's director of sports auctions, says no one knew where the piece had been, since it wasn't sold publicly.

Ruth had the watch engraved with his name and an inscription to Schwefel. A collectibles expert says that makes it even more valuable.