Only Watch - Good result in a weak environnement
28th Septembre 2009
On September 24, 2009, the fifth edition of the Only Watch auction took place in Monaco against the backdrop of the spectacular Yacht Show. Called to life five years ago by Osvaldo Patrizzi and Luc Pettavino, the proceeds of Only Watch—which takes place under the patronage of Prince Albert of Monaco—benefit the Association Monegasque contre les myopathies, which Pettavino heads up.
The newest edition of the glamorous auction held by Geneva's Patrizzi & Co Auctioneers was eagerly awaited considering the spectacular nature of some of the timepieces and the weak economic environment. The anticipatory energy of the packed auction room playing host to some of the watch industry's most colorful personalities and very solvent buyers was palpable: the auction after all represented an important barometer in terms of the continuing economic stability of innovative high-end mechanical watchmaking and very limited edition collector's pieces.
The auction opened with the sale of two paintings by grand master of design Gerald Genta, the pair of which quickly went for € 10,000. The Gerald Charles Big Date Turtle timepiece—which sold for an excellent price of € 28,000—will probably be a particular coup for the buyer since Genta just signed a cooperative agreement with BNB that will kick off a whole new brand.
It should have come as no surprise that the Patek Philippe Heavenly Celestial changed hands as the top earner for the charity as expected. An exciting duel ensued between prospective buyers in the room and Internet and telephone bidding spanning the globe, ending in a € 535,000 purchase for a room bidder. La Clef du Temps ("key of time") by BNB's Confrerie Horlogere surprisingly took the number two slot with a healthy 280,000 Euros—a coup for the newcomer, who was closely followed by another independent in the form of Jean-François Ruchonnet's Cabestan at € 220,000.
The independent scene was also well represented by MB&F (Maximilian Busser and friends). The unique execution of Horological Machine No. 2 as seen through the eyes of American artist Sage Vaughn surprisingly took home less than the estimated sum of the auction's "wish list," later attributed to a faulty computer system by some of Busser's Internet-bidding loyal clientele as reported on Facebook.
TAG Heuer's much-anticipated V4 Monaco, a belt-driven version of the La Chaux-de-Fonds-based brand's flagship model began life in 2004 as a concept watch. Its long and rocky path to small serial production is now finally being crowned with a 150-piece limited edition in platinum slated for release in December 2009. Its less-than-stellar showing at Only Watch—the Number 1 offered at the auction went for € 55,000, less than its retail value—is perhaps an expression of TAG Heuer fans' dissatisfaction with the long wait for the interesting timepiece even though it is still the most expensive new TAG Heuer ever sold.
Also very slightly disappointing was the weak bidding for the Blancpain 500 Fathoms, which changed hands for € 22,000, Jaquet Droz (€ 15,000), and Girard-Perregaux (€ 22,000) as well as Franc Vila and DeLaCour (€ 16,000 each).
Bell & Ross, however, hit a home run with the blingy pirate version of its Airborne One timepiece, purchased for a very respectable € 34,000 and confirmed by the big smile on founder Carlos Rosillo's face. Ulysse Nardin's karussel tourbillon Freak Black Out also sparked dramatic theater within the auction's framework, as heavy bidding took place between the Internet and the physical room before it was finally surrendered for € 87,000. Also more than respectable was the Hublot showing, with the King Power Foudroyante All Black going for € 31,000.
In all, Only Watch earned a total of € 2,285,500 for the charity on this sunny day in the south of France, setting an all-time record for the auction and definitively aiding the important research needed to fight Duchenne Muscular Dystrophy. "Excellent results," a pleased Patrizzi confirmed.
Rated 
In stock
[Rating:(5 / 5 stars)]
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