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For its ninth edition on 6 November, the Only Watch luxury watch auction succeeded in raising no less than 30 million Swiss francs, or approximately 28.5 million euros. The proceeds of this sale are intended for research projects on Duchenne muscular dystrophy.
For this ninth edition, and the first one since 2019, fifty-three unique watches made by the greatest names in watchmaking were auctioned off to an audience of 850 watch enthusiasts from twenty-five different countries.
The auction, taking place in Geneva, raised a record 30 million Swiss francs.
Of the 53 watches presented five sold for over one million Swiss francs. The record-breaking watch was the Desk Clock 27001M-001 by Patek Philippe, which sold for 9.5 million Swiss francs, almost twenty times the base estimate.
For this 2021 edition of Only Watch, the auction was conducted by Christie’s in front of a room full of collectors, philanthropists, representatives of watch manufacturers, scientists and journalists.
It was thus in an atmosphere of shared values and objectives that the event was held. Prince Albert II of Monaco announced his presence and personally declared the ninth edition of Only Watch open. “We don’t often take the time to reflect on the progress made. But today we should: we have come a long way. We are on the verge of a clinical trial of a treatment solution developed with funding from Only Watch. To all of you, you have my gratitude,” he said.
But Only Watch’s role is more than just an auction to benefit the search for a cure for Duchenne muscular dystrophy. It is also an opportunity for brands to take the temperature of the luxury watch market. They can present their latest models and technical prowess, and gauge their desirability on the market. “I don’t do the GPHG since 2010, so I consider that the real grand prize is Only Watch, because it’s not a jury that votes, but real collectors who pay,” commented Geneva watchmaker François-Paul Journe.
The spectacular prices that some models can fetch have a direct impact on the side of second-hand watches offered by the market. “When you read the headlines and see that a Patek Philippe has sold for 30 million, you think it’s worth it. It contributes to creating a bubble,” says Laurent Vultier, an independent watch dealer.
Only Watch remains above all a charity event. “It is a strong and positive signal, not only for the participating watchmakers who see their creations recognised and their efforts rewarded, but also for the hundreds of thousands of patients and their families who are affected by Duchenne muscular dystrophy, as well as for the researchers who are getting closer to a solution,” said Luc Pettavino, president of the Monegasque Muscular Dystrophy Association and founder of Only Watch.
Read also > ONLY WATCH SHOW 2021: WATCH BRANDS MEET AT THE MONACO YACHT SHOW
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For its ninth edition on 6 November, the Only Watch luxury watch auction succeeded in raising no less than 30 million Swiss francs, or approximately 28.5 million euros. The proceeds of this sale are intended for research projects on Duchenne muscular dystrophy.
For this ninth edition, and the first one since 2019, fifty-three unique watches made by the greatest names in watchmaking were auctioned off to an audience of 850 watch enthusiasts from twenty-five different countries.
The auction, taking place in Geneva, raised a record 30 million Swiss francs.
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For its ninth edition on 6 November, the Only Watch luxury watch auction succeeded in raising no less than 30 million Swiss francs, or approximately 28.5 million euros. The proceeds of this sale are intended for research projects on Duchenne muscular dystrophy.
For this ninth edition, and the first one since 2019, fifty-three unique watches made by the greatest names in watchmaking were auctioned off to an audience of 850 watch enthusiasts from twenty-five different countries.
The auction, taking place in Geneva, raised a record 30 million Swiss francs.
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