Only Watch 2024 Raised $ 31 Million: These Were The Most Expensive Auction Lots

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Returning in its 10th edition, Only Watch 2024 almost didn’t happen. After tons of boardroom controversies regarding nefarious financial play, participation withdrawals from brands, and an eight-month delay, Only Watch 2024 finally took place at the Palexpo in Geneva on 10th May.

Initially scheduled for November 5th, 2023, the charity watch auction was postponed after industry whistleblowers questioned Only Watch’s use of raised auction funds catapulting them under serious public scrutiny. This caused 16 brands including Audemars Piguet, Chopard, De Bethune, Jacob & Co. Girard-Perregaux, and more, that were slated to participate to withdraw their names. Fortunately, in February of this year, as they announced an internal governance restructure and clean financial audit, 47 unique watch lots stayed on, raising CHF 28.32 million (approx. $31 million).

Before we get into the list of big hitters and star-pieces, here’s a quick brief on Only Watch and its mission:

‘Only Watch’ by Monaco-based Association Monégasque contre les Myopathies – created in 2005 by Luc Pettavino and under H.S.H. Prince Albert II of Monaco’s high patronage, is the luxury watch industry’s famed biennial charity auction dedicated to funding research on Duchenne Muscular Dystrophy (DMD). By auctioning one-off timepieces by industry-leading brands and numerous independent maisons, Only Watch claims to have raised nearly CHF/EUR 100 million to finance 50+ researchers, two biotech organisations, and build an international network of public and private laboratories, all dedicated to scientific and medical research/progress.

Patek Philippe Rare Handcrafts Grande and Petite Sonnerie, Minute Repeater (Only Watch): CHF 15.7 Million ($17.3 Million)

As Christie’s Head Of Jewelry, Rahul Kadakia finally arrived at the letter ‘P’ and Lot 32 was on the scale, silent anticipation engulfed the room. While Only Watch estimated the Ref 6301A-010 to be hammered between CHF 1.5 – 1.8 million, its opening bid was CHF 5 million and almost instantly climbed to 8 million, then 10 million – finally closing at CHF 15.7 million.

Patek Philippe offered a one-of-a-kind steel version of their Grande and Petite sonnerie and minute repeater, embellished by a Rare Handcrafts guilloché dial of swirling waves. Composed of Grand Feu blue-green enamel, the dial is also adorned by 12 baguette-cut diamonds as hour indexes. The power reserve indicator and the sonnerie indicator feature “only – one” while the crystal caseback boasts a metallized inscription “Only Watch 2024”. Underneath rests the manually wound calibre GS 36-750 PS IRM whose Minute Repeater chimes using three classic gongs and boasts a 72-hour power reserve.

Richard Mille Talisman Origine: CHF 2.38 Million ($2.65 Million)

Codename RMS14, Richard Mille revived a lost timekeeping relic from a millennia ago for Only Watch 2024. RM claims this to be an interpretation of what their novelties would’ve looked like during prehistoric Swiss times.

In a skeletonized architecture, the bezels and caseback are cast in satin-finished red gold with hand-carved symbols while its gripping claws are composed of grade 5 titanium and micro-blasted Swiss rhodonite inserts. Its bracelet or necklace strings together a series of hand-engraved briarwood, gold, titanium, and rhodonite beads. The dual crowns represent the sun and moon. Going barebones like a shamanic totem, its calibre CRMT5 is put on display, which is an automatic-wound tourbillon movement with its baseplate and bridges crafted out of 3N and 5N gold.

Rexhep Rexhepi Chronomètre Antimagnétique: CHF 2.1 Million ($2.3 Million)

Soon after PP’s silver sonnerie was hammered, bidders from London, Switzerland, the Middle East and South-East Asia were engulfed in another frenzy of bids. Given the intensity, it would be fair to assume the bidding war was for another Swiss watchmaking behemoth’s offering, instead, it was for a humble, micro-maison’s chronometer.

Rexhep Rexhepi’s Chronomètre Antimagnétique embraces the fundamentals of timekeeping in form and function. Post WWII, humanity’s explorative spirit reached the polar regions, where the planet’s magnetic field is the strongest. This prompted Geneva’s master watch-smiths to devise magnetic-resistant timepieces – it was upon this rock that Rexhepi built its horological church. The dial, subtle and composed of Grand Feu black enamel, is inspired by mid-20th-century chronometers. The alternating blocks represent the opposite polarities of a magnetic field. The manual wound movement is cased in a stainless-steel case with anti-magnetism properties, comprising 30 components made by Jean-Pierre Hagmann’s workshop (JHP).

F. P. Journe Chronomètre Bleu Furtif: CHF 2 Million ($2.2 Million)

F.P. Journe is no stranger to creating auction-day headlines and this year’s Only Watch was no different. All in all, this Journe is undeniably unique but intently irksome to everyone except the wearer. In case you’re wondering, the title, ‘Chronomètre Furtif’ comes from the difficulty in reading time if the watch is not facing you.

The all-new calibre 1522 has its power reserve and moonphase indicator are situated on the rear side of the timepiece. Also, the translucent blue enamel dial reveals the frosted, laser-engraved matte indexes only when reflected angularly under light – allowing the watch to be enjoyed exclusively by the wearer. Cased entirely in tantalum with a matching bracelet, the movement inside is cast in 18-carat rose gold, hand-wound, and delivers a 56-hour power reserve.

Louis Vuitton Tambour Einstein Automata: CHF 700,000 ($772K)

Louis Vuitton’s Automata Einstein for Only Watch 2024 is a playful ode to history’s most genius ponderer who reshaped mankind’s perception of relativity and time.

Developed and assembled at Louis Vuitton’s ultra-futuristic, La Fabrique du Temps manufacture in Geneva, this stunner houses their star calibre LV 525. With Einstein mischievously sticking his tongue out, the rest of the grisaille enamel dial is flooded with chalkboard scribbles of math formulas and the scientist’s most famous formulas in 18-carat white gold. The manual-wound calibre features four animations, jumping hours, retrograde minutes and a power reserve indicator and boasts a 100-hour power reserve. The ‘E=mc2’ formula is adapted as a power reserve indicator using ‘LV’ and ‘OW’ markers – the latter is prompted when the reserve is nearly empty. You’ll also notice that Einstein’s hair texture engraving extends to one of the upper lugs and lever at two o’clock. This timepiece is quirky-brilliant, distinguished by mechanism, and expresses LV’s penchant for artistic customization.