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RETAIL | Staff Reporter, Hong Kong

What you need to know about the 7th Only Watch auction

It took place in Geneva last November 11.

The 7th Only Watch auction took place in Geneva on Saturday, November 11, 2017 The Patek Philippe Ref. 5208T-010 (Lot 9) was sold for CHF 6.2 million, fetching the highest price in this 2017 auction. At the same time, it is the second-highest successful bid since the Only Watch auction series was launched 12 years ago.

The previous top bid record is also held by a Patek Philippe timepiece – the Ref. 5016 in stainless steel that was sold for CHF 7.3 million in 2015. Only Watch is a charity auction that has been taking place every two years since 2005. The proceeds benefit the Monaco Association against Duchenne Muscular Dystrophy (Association Monégasque contre les Myopathies AMM). They help fund research into Duchenne Muscular Dystrophy, a degenerative neuromuscular disorder that befalls one out of every 3500 children, adolescents, or young adults around the world.

Patek Philippe participated in this 7th Only Watch auction with a unique and extraordinary timepiece, the first and only titanium version of the Ref. 5208 Triple Complication wristwatch with a minute repeater, a monopusher chronograph, and an instantaneous perpetual calendar. Its blue dial is decorated with a hand-guilloched “Carbon” motif. Another rare facet: the caliber R CH 27 PS QI movement can be admired through a display back that showcases very special finissage techniques such as the black rhodiumed bridges and plate as well as a hand-guilloched mini-rotor in platinum with the same decoration as the dial.

This is the first time that Patek Philippe reworked a movement for the special edition of a watch. All in all, 47 unique timepieces were auctioned off by Christie’s at this event for a grand total of CHF 10,776,500; it is one of the best auction results ever achieved for the Monaco Association against Duchenne Muscular Dystrophy.

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