The Richard Mille "Talisman" Necklace Watch Auctioned For US$ 26,25,482 At The Only Watch Auction
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The Only Watch auction has weathered a storm of controversies in 2023, moving the auction by a year. Amidst the anticipation and excitement, 16 esteemed brands, including industry giants like Audemars Piguet and Chopard withdrew from participation, casting a shadow over the event. Despite these setbacks, the auction persevered with 47 exceptional timepieces up for sale.
While physically absent from the auction room in Geneva, we were virtual spectators and did notice a few differences from the previous years. One of the notable departures from tradition was the absence of online bidding, instead, all bidding transactions were conducted via phone or in the auction room in Geneva. Moreover, reports surfaced suggesting technical glitches, with Christie's website and app purportedly experiencing downtime during the auction, adding a layer of unpredictability to the proceedings. However we have no official confirmation of this.
That being said, the virtual sphere saw significant engagement, with approximately 1000 viewers tuning in to the Only Watch YouTube livestream. However the physical presence in the auction room appeared subdued compared to previous years. Speculation regarding the reasons behind this contrast abounds, with factors such as global events, logistical challenges, and evolving consumer behaviors likely playing a role.
However, amidst uncertainties and adaptations, the essence of the Only Watch auction remained intact: the spirit of giving. Despite the hurdles, the auction managed to raise an impressive sum of approximately US$31,241,038.08 (approx. INR 26,100,90322), reaffirming the unwavering commitment of the horological community to supporting noble causes.
A few no brainers and a few surprises, here are the highlights of the Only Watch 2024 auction.
Patek Philippe 6301A-010 Grande and Petite Sonnerie, Minute Repeater was auctioned at $17.3 Million
The Rexhep Rexhepi Chronomètre Antimagnétique sold at $2.3 Million
The F.P. Journe Chronometre Bleu Furtif sold at $2.2 Million
Richard Mille's “Talisman Origine” ended up selling for $26,25,482
The Louis Vuitton Tambour Einstein Automata sold for CHF 700,000
Bulgari Octo Finissimo Tourbillon Marble sold for CHF 190,000
Admist all the action it was also good to see the importance and relevance given to independent brands and watchmakers. To name a few, the MB&F x Moser Panda sold at CHF 3,80,000, the Krayon Anywhere watch for CHF 440'000 and the Furlan Marri x Dominique Renaud x Julien Tixier secular perpetual calendar at CHF 130,000.
As previously noted, the auction witnessed both remarkable successes and unexpected outcomes. For instance, certain timepieces fetched exceptional prices, while others were sold below their anticipated market value. One notable instance was the sale of the TAG Heuer Monaco Rattrapante, which realized a final price of CHF 110,000, notably lower than its initially stated retail price of CHF 135,000.
In hindsight, the 2024 edition of the Only Watch auction emerges as a testament to resilience, demonstrating the industry's capacity to adapt and thrive in the face of adversity.With a sense of accomplishment and heartfelt emotion, Luc Pettavino closed the auction on a high note, expressing gratitude to all participants. He remarked, "Each and every one of you is a hero to the children battling Duchenne muscular dystrophy. Always remember that. You are their beacon of hope." Here's to the success of Only Watch 2024!
