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Wednesday, September 28, 2011

‘Only Watch’ Charity Auction Raises $6.2M for MD Research

From left: Ronnie Wood from The Rolling Stones, Luis Garcia (Directeur de Recherche CNRS), Philippe Ferreyrolles, Monique Pettavino, HSH Prince Albert II of Monaco, Tess Pettavino, Gaëlle Tallarida (Managing Dierctor Monaco Yacht Show), Peter Rigby (Chief Executive Informa), Paul Pettavino, Luc Pettavino (President AMM) - Photo: © Claude Charvin

The "Only Watch" charity auction raised more than 4.5 million euros ($6.2 million) for Duchenne Muscular Dystrophy research.

The biennial event was held September 23 at the Hotel Hermitage in Monaco in a star studded affair that included Prince Albert II of Monaco and Rolling Stones guitarist Ronnie Wood. The auction featured a collection of 40 timepieces created specifically for the auction from the top brands in the Swiss watch industry. The pieces went on a world tour to Bangkok, Singapore, Hong Kong, Shanghai, Beijing, Tokyo, Los Angeles, New York, Milan, Geneva and Monaco prior to the sale.

A Patek Phillipe attracted the highest bid of the evening for its Ref. 3939. The stainless steel minute repeater wristwatch with tourbillon escapement, black enamel dial with a stainless steel prong buckle fetched 1.4 million euros ($1.9 million), nearly three times its asking price. Other timepieces that led auction results included a DeWitt, "Concept Watch No. 3 – X-Watch," that sold for $410,000 euros ($558,381); a BLU Gagarin Platinum flying tourbillon that celebrates the 50th anniversary of Yuri Gagarin's historic flight in space that sold for 300,000 euros ($408,571); and a a Van Cleef & Arpels, Poetic Complication “From the Earth to the Moon,” No. 1/1 that sold for 215,000 euros ($292,673).

View 38 of the 40 timepieces that were sold.
 
In addition to a full room of buyers and celebrities, the fourth edition of the event attracted strong internet and intense telephone bidding. International participation included Japan, Switzerland, Hong Kong, China, the United States and the Russian Federation.

“The auction result is more than exceptional,” said Luc Pettavino, president of the Association Monégasque contre les Myopathies and Founder of Only Watch. “Only Watch 2011 is the fruit of an excellent collaboration between watch manufactures, partners, media, organizers ... but it is first and foremost an outstanding work done by men and women coming from very different horizons who joined their energies to create hope in research on Duchenne Muscular Dystrophy.”

All proceeds from the auction will finance research, organize scientific roundtables and fund International Collaborative Effort (ICE).

“Thanks to Only Watch, we are going to be able to finance ICE (a program that was started in 2008),” said Luis Garcia, directeur de Recherche at the CNRS. “This program brings together 15 leading teams worldwide who work on therapeutic strategies on Duchenne Muscular Dystrophy, in particular exon skipping, gene and cell therapies.”

The event is organized by the Association Monégasque contre les Myopathies, Antiquorum Auctioneers and the Monaco Yacht Show (which is held at the same time), along with the support of 40 of the watchmakers, the auction concluded a series of preview exhibitions that took place in (during the Monaco Yacht Show).

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