The Auction Market Report featured a charity auction scheduled for this Thursday. The sale is named the Only Watch 2007 and benefits the Monagasque Association Against Muscular Dystrophy.
The charity auction is becoming an annual event held in Monte Carlo at the Monaco Yacht Club. The auction begins this Thursday at 6:00 p.m.
Preview receptions for the thirty-five watches being auctioned were held in Tokyo, Shanghai, Hong Kong, Singapore, Geneva and Monoco beginning in late August.
The first Only Watch was held two years ago. And the name of the auction signifies exactly what is auctioned off for charity. Watches. Very high quality watches.
Prior to this charity sale becoming a specialized watch auction, it existed for three years as a charity auction called Only One. Items offered for sale to benefit the charity were either one of a kind items or the first in a small series of luxury items. In the first Only One auction during 2003, items such as Baccarat crystal decanters and handmade silk neckties were sold for the charity.
The sale began to limit its offerings to exceptional watches when the auction house Antiquorum became involved. Antiquorum specializes in the sale of watches at auction.
Antiquorum’s relationships with Switzerland manufacturers have also enabled the sale to have unique items for sale.
The highest pre-auction estimates for an individual watch is 400,000 EURO. This estimate is for Lot 9, a watch by DeWitt and Jean-Michel Wilmotte called “Incognito 2008.” The watch is a one-of-a-kind model. The watch with the lowest pre-auction estimate is Lot 31 at 4,500 EURO. This item is manufactured by Swatch. It is a uniques piece identified as “Pearly Pink.” It is also a uniques piece.
Among other items being offered for sale are a Joaillerie 101 Etrier manufactured by Jaeger-LeCoultre. The watch has the world’s smallest mechanical movement.
Also being offered for sale is a Starck-designed flyback chronograph. This watch has a cuff-style bracelet that forms part of the watch’s titanium case.
A Piaget Altiplano dress watch is also offered on the auction block. The dial of the watch is set with 316 diamonds in the form of an enlarged finger-print of Monaco’s Prince Albert II. An incidental note is that the charity auction is conducted under the patronage of the Prince.
Louis Vitton has donated a watch called the Tambour 18 Mandarine. The watch has a yellow gold case set with ninety-two diamonds. The dial is made of mother-of-pearl and is bright orange. The watch is encased in a miniature LV trunk decorated by a design created by eleven year old Paul Pettavino who has muscular dystrophy.
Last year thirty-four watches were offered for sale at a black tie dinner with three hundred guests. The sale raised 1.9 million Euros for the Monagasque Association Against Muscular Dystrophy.
Any one can bid at this charity auction through the Antiquorum real-time interactive bidding system. Photographs of the Piaget Altiplano and the Vuitton Tambour 18 Mandarine can be seen in the last weekend Financial Times Life & Arts Section. An on-line catalog of all of the items offered for sale can be viewed at www.antiquorum.com. This note is based on these sources. U.S. taxpayers should note that Monagasque Association Against Muscular Dystrophy is not listed as an exempt organization for purposes of IRC Section 501(c)(3).
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Monday, September 24, 2007
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