Time is Money!
October 4, 2013 2:22 AM Subscribe
Once every two years "Only Watch", a charitable fundraiser for research on Duchenne Muscular Dystrophy, auctions unique watches provided by the prestige Swiss watch brands. It was held in 2013 on September 28, raising 5,066,000 Euros. In a year with some disappointing sales, which watch sold for the highest value?
The Patek Philippe 5004T, the last of the 5004 series and the only one to be made in titanium, was estimated to sell between 400,000 and 600,000 Euros sold for 2,950,000 Euros. Review available here.
Among the disappointing results were the ladies Chanel Premiere Flying Tourbillon, valued between 150,000 and 200,000 Euros, which sold for 75,000 Euros. Or the rather unique design of the Christophe Claret X-Trem-1 Pinball, valued between 230,000 and 300,000 Euros, which sold for 100,000 Euros, or the Roger Dubuis La Monegasque, estimated between 120,000 - 160,000 Euros but sold for 70,000 Euros.
Full estimates and sales here.
The 2011 Results
Link to watches and exclusive reviews of each
The Patek Philippe 5004T, the last of the 5004 series and the only one to be made in titanium, was estimated to sell between 400,000 and 600,000 Euros sold for 2,950,000 Euros. Review available here.
Among the disappointing results were the ladies Chanel Premiere Flying Tourbillon, valued between 150,000 and 200,000 Euros, which sold for 75,000 Euros. Or the rather unique design of the Christophe Claret X-Trem-1 Pinball, valued between 230,000 and 300,000 Euros, which sold for 100,000 Euros, or the Roger Dubuis La Monegasque, estimated between 120,000 - 160,000 Euros but sold for 70,000 Euros.
Full estimates and sales here.
The 2011 Results
Link to watches and exclusive reviews of each
Also, I'm assuming all were automatics that used custom and not Swatch made movements...but come on!
I would be shocked if that were the case. There are not many watchmakers doing in-house movements these days, and many of these brands almost certainly using OEM Valjoux movements, where they can.
It's like those 20k Hasselblads that are actually just Sony Nex 5Ns with a gigantic case and some cherrywood thrown on top.
posted by smoke at 3:19 AM on October 4, 2013
I would be shocked if that were the case. There are not many watchmakers doing in-house movements these days, and many of these brands almost certainly using OEM Valjoux movements, where they can.
It's like those 20k Hasselblads that are actually just Sony Nex 5Ns with a gigantic case and some cherrywood thrown on top.
posted by smoke at 3:19 AM on October 4, 2013
valued between 150,000 and 200,000 Euros, which sold for 75,000 Euros.
75,000 Euros. No, no, no. This is a Chanel Premiere Flying Tourbillon. The thinnest water-resistant watch in the world. Singularly unique, sculptured in design, hand-crafted in Switzerland, and water resistant to three atmospheres. This is *the* sports watch of the '80s. It tells time simultaneously in Monte Carlo, Beverly Hills, London, Paris, Rome, and Gstaad.
C'mon people. It's a charity auction. You're supposed to overpay. That's the idea.
posted by three blind mice at 3:37 AM on October 4, 2013 [2 favorites]
75,000 Euros. No, no, no. This is a Chanel Premiere Flying Tourbillon. The thinnest water-resistant watch in the world. Singularly unique, sculptured in design, hand-crafted in Switzerland, and water resistant to three atmospheres. This is *the* sports watch of the '80s. It tells time simultaneously in Monte Carlo, Beverly Hills, London, Paris, Rome, and Gstaad.
C'mon people. It's a charity auction. You're supposed to overpay. That's the idea.
posted by three blind mice at 3:37 AM on October 4, 2013 [2 favorites]
Yeah... even when shopping for watches at price strata below where Patek Phillippe floats, there's a marked difference in appearance and quality of the watches bearing style brands' imprints and those from recognizable watch companies. Seiko 7-series watches will always be better than John Varvatos watches.
There's not actually anything wrong with designers watches stuffed with Omega mechanisms most of the time, except that they tend to be designed to call attention to themselves, rather than be designed around the function of working like a watch. Even when they're not overtly blingy, they tend to be too large, be packed with unnecessary garnishes and nonfunctional elements, or be unreasonably hard to read. When it comes to timekeepers I've got an old-fashioned preference for form that follows function.
posted by ardgedee at 3:38 AM on October 4, 2013
There's not actually anything wrong with designers watches stuffed with Omega mechanisms most of the time, except that they tend to be designed to call attention to themselves, rather than be designed around the function of working like a watch. Even when they're not overtly blingy, they tend to be too large, be packed with unnecessary garnishes and nonfunctional elements, or be unreasonably hard to read. When it comes to timekeepers I've got an old-fashioned preference for form that follows function.
posted by ardgedee at 3:38 AM on October 4, 2013
There's not actually anything wrong with designers watches stuffed with Omega mechanisms most of the time
Ironically, Omega themselves are stuffed with the simple and steady Valjoux movements.
Official Swiss Railway Watch
Someone should have told Apple.
posted by smoke at 5:00 AM on October 4, 2013
Ironically, Omega themselves are stuffed with the simple and steady Valjoux movements.
Official Swiss Railway Watch
Someone should have told Apple.
posted by smoke at 5:00 AM on October 4, 2013
My godson is 8 with Duchenne's Muscular Dystrophy. I had no idea about this initiative. Thanks for the extra boost of hope this morning. He is awesome. In the states, Jerry Lewis has been helpful, there is also PPMD (Parent Project Muscular Dystrophy), Darius Goes West, and in the mid-Atlantic, Johns Hopkins Hospital in Baltimore and Children's Hospital in DC. There is another research hospital in Ohio whose name isn't coming to mind quickly. For families with a new diagnosis, connecting helps.
I love watches too, I know I have a pale ring around my wrist, but don't see it often, it celebrates my love affair with time. I will now re-read the list of 11 things to help me manage my relationship with the Internet :-/
posted by childofTethys at 5:08 AM on October 4, 2013 [1 favorite]
I love watches too, I know I have a pale ring around my wrist, but don't see it often, it celebrates my love affair with time. I will now re-read the list of 11 things to help me manage my relationship with the Internet :-/
posted by childofTethys at 5:08 AM on October 4, 2013 [1 favorite]
What an amazing fundraiser! I have lost two cousins and an uncle to DMD.
posted by candyland at 6:15 AM on October 4, 2013
posted by candyland at 6:15 AM on October 4, 2013
Official Swiss Railway Watch
Apparently, there's a tradition of giving people watches as high school graduation gifts. Or so my dad believes. In any case, my brother got one of these when he graduated from high school. It gained time like no other--like 15 minutes a day.
posted by hoyland at 6:29 AM on October 4, 2013
Apparently, there's a tradition of giving people watches as high school graduation gifts. Or so my dad believes. In any case, my brother got one of these when he graduated from high school. It gained time like no other--like 15 minutes a day.
posted by hoyland at 6:29 AM on October 4, 2013
Some links on background to watch movements and what's happening in the market with Swatch (via ETA) beginning to restrict access to their movements. ETA Eta discussion Why In-house Movements part 1 part 2
Omega actually bought the co axial escapement from George Daniels (apparantly for a meager sum). More on that here, here and here.
posted by Admira at 7:22 AM on October 4, 2013 [1 favorite]
Omega actually bought the co axial escapement from George Daniels (apparantly for a meager sum). More on that here, here and here.
posted by Admira at 7:22 AM on October 4, 2013 [1 favorite]
Top ten technically important wristwatches, featuring brands from the auction such as Breguet, Ulysse Nardin, Patek Phillipe, Vacheron Constantin, Zenith, Breguet, Roger Dubuis, and Richard Mille.
posted by Admira at 7:36 AM on October 4, 2013
posted by Admira at 7:36 AM on October 4, 2013
75,000 Euros. No, no, no. This is a Chanel Premiere Flying Tourbillon. The thinnest water-resistant watch in the world. Singularly unique, sculptured in design, hand-crafted in Switzerland, and water resistant to three atmospheres. This is *the* sports watch of the '80s. It tells time simultaneously in Monte Carlo, Beverly Hills, London, Paris, Rome, and Gstaad.
In Philadelphia it's worth 75,000 Euros.
posted by dirtdirt at 7:49 AM on October 4, 2013
In Philadelphia it's worth 75,000 Euros.
posted by dirtdirt at 7:49 AM on October 4, 2013
"Ironically, Omega themselves are stuffed with the simple and steady Valjoux movements. "
I'm not sure how simple they are. Valjoux, a subsidiary of ETA which is itself owned by SWATCH (who also own Omega), supplies many movement blanks across the industry, but I think most of the external movements used by Omega itself are ETA-branded, not Valjoux. (For example, the whole Seamaster line.)
Companies that still use only in-house movements are increasingly rare, but one standout is the high-end firm most often disdained by watch nerds: Rolex.
posted by uberchet at 9:02 AM on October 4, 2013 [1 favorite]
I'm not sure how simple they are. Valjoux, a subsidiary of ETA which is itself owned by SWATCH (who also own Omega), supplies many movement blanks across the industry, but I think most of the external movements used by Omega itself are ETA-branded, not Valjoux. (For example, the whole Seamaster line.)
Companies that still use only in-house movements are increasingly rare, but one standout is the high-end firm most often disdained by watch nerds: Rolex.
posted by uberchet at 9:02 AM on October 4, 2013 [1 favorite]
ooh, expensive mechanical watches. Tourbillons! Chronographs! Gears! It's steampunk for rich people!
posted by Wemmick at 9:26 AM on October 4, 2013 [1 favorite]
posted by Wemmick at 9:26 AM on October 4, 2013 [1 favorite]
It gained time like no other--like 15 minutes a day.
Sorry to hear about your brother and his watch. Must have been one of those "made on a Friday afternoon" watches. I've had a quartz Official Swiss Railway Watch for going on eight years. To date, it's been a very reliable timepiece.
posted by Mister Bijou at 9:42 AM on October 4, 2013
Sorry to hear about your brother and his watch. Must have been one of those "made on a Friday afternoon" watches. I've had a quartz Official Swiss Railway Watch for going on eight years. To date, it's been a very reliable timepiece.
posted by Mister Bijou at 9:42 AM on October 4, 2013
These timepieces are not nearly exclusive enough. I am now offering the most unique timekeeping system on Earth.
For the modest sum of $2 Million (cash up front) I will be your personal timekeeper. I will obtain $1 Million of $100 bills. I will accompany you at all times (within reasonable limits of health and safety). Whenever you ask me the time, I will write it on a $100 bill, display it to you, then burn it to ashes. I will provide this service until the $100 bill supply is exhausted, or 5 years, whichever comes first.
posted by charlie don't surf at 4:44 PM on October 4, 2013 [1 favorite]
For the modest sum of $2 Million (cash up front) I will be your personal timekeeper. I will obtain $1 Million of $100 bills. I will accompany you at all times (within reasonable limits of health and safety). Whenever you ask me the time, I will write it on a $100 bill, display it to you, then burn it to ashes. I will provide this service until the $100 bill supply is exhausted, or 5 years, whichever comes first.
posted by charlie don't surf at 4:44 PM on October 4, 2013 [1 favorite]
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