THIS JUST IN: Only Watch auction has brought in an unheard-of amount for charity funding!
When fashion meets philanthropy, our hearts melt. At the fifth edition of the biennial Only Watch auction on September 28, €5,066,000 was raised to go towards research for Duchenne Muscular Dystrophy. That comes out to a total of over $6.8 million in U.S. currency!
Over 300 viewers attended Only Watch 2013, some bidding in person, others online or by telephone. A total of 33 custom-made, designer watches and a 14-bottle magnum champagne collection were auctioned off to reach the grand total for the day.
We thought the Laurent Ferrier Galet Classic Tourbillon Double Spirale watch Geneve was stunning. The beautiful craftsmanship of smooth metal, enamel and painting is a lovely example of luxury fashion trending this fall. The soft brown colors and mixed metals are luscious, yet simple. The Geneve brought in $13,500 more than its estimate, going for $176,657.
Far Beyond Expectations
The headliner watch was a beautiful Patek Philippe, expected to bring in $ 543,500-$ 815,300, but shocked the crowd by actually going for €2,950,000, or about $4,000,000—more than four times the highest estimate!
In fact, Forbes reported that it’s not actually unusual for a Patek Philippe watch to go for a million dollars. Forbes writer Ariel Adams notes, “In 1999 the still unbroken record for the highest watch bid price was set when the Patek Philippe ‘Supercomplication’ pocket watch was sold at a Sotheby’s auction for $11 million.” Wristwatches don’t go for as much, but they aren’t too far behind. He continues:
Patek Philippe has a special relationship with many of the world’s elite people. Many of the most successful vintage Patek Philippe watches at auction were produced specially for important clients, or even concept watches.
And Philippe certainly has elite fans! From Charlie Sheen, to Eric Clapton, to the President of France, these watches can be seen on the wrists of celebrities everywhere! John Mayer has been spotted wearing more than one Patek Philippe, including to this year’s 2013 Grammy Awards! Even Queen Elizabeth and Prince Albert wore Patek Philippe watches in their royal pictures.
Patek Philippe was started by Antoine Norbert de Patek and Adrien Philippe in 1839. Currently, the company holds 80 patents in its unique watch making designs. It is the last family-owned watch manufacturer in Geneva.
Craftmanship, rarity, aesthetics—these are the marks of a Patek Philippe timepiece. We love that this most recent sale was able to benefit a great cause.
100% of the funds were donated to Association Monégasque contre les Myopathies from the charity auction at Only Watch. Each of the 33 selected watch manufacturing houses donates a one-off piece, specially made for the auction. Participating watch companies in this year’s auction:
Van Cleef & Arpels
Julien Coudray 1518
Bell & Ross
Backes & Strauss