31 Million USD: Crazy Record Patek Philippe & Other Lots at Only Watch 2019

31 Million USD: Crazy Record Patek Philippe & Other Lots at Only Watch 2019


Hello, welcome back on TheWATCHES.tv and what
a crazy moment we just lived here in Geneva during the 8th edition of Only Watch, the
charity auction held every two years collecting funds to fight muscular dystrophy diseases,
so without further ado let’s re-live together a moment of history, 31 million for a steel
wrist watch, no ordinary watch for sure, but still and we’ll come back after this on
its meaning and the very good overall performance of the auction, a real revelator on who’s
hot or not. But now pleasure time. Ok, wasn’t this simply crazy, but what an
amazing powerful message sent out there by Patek Philippe. Previous record for a wrist watch was held
by Rolex for Paul Newman’s very own Paul Newman Daytona sold for an astounding 16 million
for an industrially produced watch but of exceptional provenance, but now that record
had been shattered, torn to pieces, almost doubled and just putting back Patek back on
that first march by a stratospheric difference. I’ve often mentioned Patek being in a league
of their own, well this demonstrates it quite bluntly, nothing comes close and I doubt we
will see anything come close anytime soon, but as Thierry Stern was just telling me after
the auction, records are meant to be broken, so we’ll see, liked the attitude regardless
😉 but what an incredible marketing coup, a touch of genius reminding all Patek owners
in which club they belong, even if most Patek watches obviously can’t be compared to this
unique incredible steel Grand Master Chime and also demonstrates Patek’s capacity of
nurturing nicely its collector community. Bravo and by a mile bravo, crazy. But other lots worked really well too, most
of them performing much higher than estimates, I will come back on this in a second, but
today one can say that Only Watch has become a brand of its own, with a huge power of attraction
to collectors and all this for a good cause, everyone playing the game, brands offering
their pieces, no supplier taking any fees from the event, Christie’s auction house
not taking a dime, but what a communication platform now for them repositioning them back
at the very top of auction house business in a spectacular record manner. At the end all stakeholders of the project
are winners, but most importantly and this by far those suffering from the Duchesne muscular
dystrophy disease, for which Only Watch has already managed to pull 40 million Swiss francs
going towards research during the last 7 editions and now almost doubling this number with the
staggering 38 million Swiss francs collected this weekend. So a massive congratulations to Luc Petavino,
the founder of the auction, whose perseverance and inspiring attitude made it all this possible. Having personally gone through the sad consequences
of this disease and the loss of his son, Luc has transformed this enduring experience into
something beautiful, inspiring, something which was acknowledged by the watch community
during the last GPHG since he received a special jury award for his accomplishments, award
plus standing ovation actually. And the great news about this is that the
various research teams involved with finding a cure for this disease have made some very
serious breakthroughs and are the verge of starting clinical tests and this is just amazing
to know. But let’s get back on the auction itself
and on some results witnessed there. The next big lot was this spectacular FP. Journe and I liked how things went, starting
with a “reasonable” 400’000 Swiss francs price and a collector in the room just didn’t
want to waste any time and immediately set the bar at 1.5 million, this was actually
quite amusing and final price ended at 1.8 million, a pretty remarkable price and a new
record for a FP Journe piece. As mentioned this auction is also a good revelator
of who’s hot or not and most brand enjoyed significant price increases compared to normal
retail prices. But this of course needs to be taken with
a bit of caution, because you do not always know to what extent the brands are not helping
this a bit by themselves. Again at the end it’s for a good cause,
so that’s fine, but some lots might have gotten a little extra help here and there,
nevertheless overall good results for almost everyone. Akrivia hit the roof with 360’000 francs
for the Chronometre Contemporain, but since this was the only way of getting your hands
on this much appreciated timepiece, it’s just well deserved and really highlights how
hot they are, especially considering that this was the last lot of the auction but the
audience still had resources. Congrats to Rexhep Rexhepi and his team, our
good neighbours here in the Old Town of Geneva. Kari Voutilainen’s piece made with his daughter,
the only pocket watch of the auction, went for 110’000 Swiss francs, a very good price. The Tudor Black Bay ceramic went for a crazy
price of 350’000.-, cool piece, but crazy price nonetheless and though we’re talking
a lot of money that ping pong game happening in the auction room went fast, starting at
5’000 and in a matter of seconds reached 350k. 1 Million for the Audemars Piguet Code 11.59
openworked tourbillon, quite a number and stopping at 1 million zero zero mark just
seemed a bit odd but why not and someone was happy. 280’000 francs for the Bovet Recital 23
was a really good performance, especially when you consider that it was the lot that
followed the Patek record timepiece. So we had all lived some kind of immense climax
and for this piece to be next was quite a challenge, but good price seriously and beautiful
piece. 210’000 for the Hermes L’Heure de la Lune,
a massive price, almost ten times its retail price, but such a cool watch and there too
it was the only way of getting your hands on this piece, they had all been sold out. 300’000 for the original and super cool
collaboration between URWERK and De Bethune, really do like this one and that’s a true
example of what a “unique piece” is all about. Talking about unique piece, Konstantin Chaykin
Selfie Joker watch went really well and fetched 70’000.-, quite a remarkable amount, but
he really took the time and effort to come with something totally original for the auction. Montblanc split second chrono monopusher went
for 100k, really really good performance there. 130k for the two Chanel J12, again great achievement. 210k for the very nice Breguet chocolate Type
XX, again super good result. 85K for MB&F and L’épée special version
of T-Rex, really good performance. 280 for the Louis Vuitton Escale Spin time
bought by Mr Biver himself 75’000 for the Zenith, but then we there
were a few watches that didn’t perform that well and must have created some disappointment
among a few brands. Won’t go too much over them, but for instance
60’000 for the Jaeger-LeCoultre Master Ultra Thin Perpetual Calendar coming with this unique
chestnut enamel dial, nice watch, but considering retail price of 55’000 for the blue version
we had seen at the SIHH this year, well I doubt Jaeger will be too happy with this. Even Richard Mille was a bit disappointing,
ok this RM 11-03 McLaren did fetch 320’000, more or less 40% above retail, but seriously
nothing too spectacular and I think that the fact that they didn’t really do anything
special, there was nothing really unique about this timepiece apart that you could buy it
without having to buy a McLaren car, well I guess that for collectors this was probably
seen as not enough. But then for some brands, results came lower
than retail price and this is obviously not good, not a positive sign sent out and sometimes
even a bit surprising, for instance for Ferdinand Berthoud or Armin Strom and this despite being
really great timepieces. Anyhow, this edition of Only Watch was truly
a fantastic moment to live, fantastic for the cause, fantastic for the brands, a fantastic
moment of marketing brilliance, fantastic for Christie’s, a historic moment and thanks
to all the various players for making it possible and can’t wait for the next edition in a
couple of years. Well this is it for our coverage of the 2019
Only Watch auction, we will still let you enjoy a bit of the ambiance of this edition,
all the very best to all and Viva Watchmaking for a good cause.

Daniel Ostrander

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100 thoughts on “31 Million USD: Crazy Record Patek Philippe & Other Lots at Only Watch 2019

  1. Chosen One says:

    Someone got caught up in the moment and will regret that purchase, he will be asking for charity soon.

  2. Rishi says:

    Great coverage!!

  3. kbdw says:

    I would have thought the joker piece would go for at least 100k

  4. RollaArtis says:

    How to create demand.

  5. Smooth acceleration says:

    Great coverage. Tx

  6. Sky173 says:

    The hundred dollar bill in my pocket just laughed at me. lol

  7. MrVoayer says:

    I told you it was going to be me!

  8. Philip Byrnes says:

    Wow

  9. guitartec says:

    My 1960-70's Bulova Accutron tuning fork watches have index wheels that spins 38 million times per year and have been doing it reliably since 1960. Nevermind that these watches hum instead of tick, the technology that makes up the Accutron is absolutely sick, especially from the 1960's. Converting fork vibration into rotory motion with parts so retardedly small that it has amazed countless people in the know for nearly 60 years. To this day, the closely guarded secret of how the index wheel was even made is unknown. This wheel is 2.40mm (0.095″) in diameter and has 300-320 teeth, depending on the model. Each tooth on this micro-tiny index wheel is 0.01mm high (0.0004″) and 0.02mm (0.0008″) wide. How do you make that in 1960? I have an idea, but it's only speculation, so I won't go into it unless asked. Each of the two drive coils that pulse the fork have 8100 turns of insulated wire that's about 1/3 the thickness of a human hair. How do you insulate wire that thin? I'm pretty sure dunking it in plastic dip doesn't work. These watches are soooo friggen cool, I have trouble gushing over more modern watches. I still like them, but who can afford them? I can afford an old Accutron.

  10. glidule says:

    Quel moment incroyable! J'aurais aimé y assister. L'accès est-il facile?
    Belle consécration pour akrivia. J'avais pu apprécier l'esprit lors de la visite de leur atelier en votre présence. Content que leur côte aille dans le bon sens.
    On peut réellement faire un parallèle avec le marché de l'art. Et je pense que ça n'est que le début. Pensons à ce qu'était ce marché il y a trente ans…

  11. Sama El says:

    Mon dieu !! a ce prix là, le tarif des montres prestigieuses n'est pas près de se calmer

  12. Thomas Funder says:

    I was also wondering if any of the watch companies was bidding on their own watches, just to make their brand look better. ex when Biver buys the Luis Vuitton watch (Lvmh)

  13. Eng. Saber Yousuf says:

    That is insane .. 💔

  14. Richard Fife says:

    The commission…… for dropping a hammer.

  15. Matthias Schnapka says:

    Marc Andre# when you announced that this 1:1 Grand Master Chimes in Steal will be for Aucrion in your last vid about this Watch I guessed that it will reach 10 Mill with ease; and your answer was, that is could come near to this figure……….so it seams, that we both got horrible wrong !

    I'm a watch guy for most of my life…….and like to see high class watches……..but to be honest……..31Mill. for a small steel Wristwatch is just the PERVERT SIDE OF TURBO CAPITALISM !

    It just reminds me a bit about the crazy tulip hosse in Neatherlands in 16th Century.

    This is not a healthy performance………to high rising prices in a to short periode of time.

    Just my 50 Cents

  16. Bim says:

    Steel? That’s an insult.

  17. Ahmed Abdellatif says:

    Alright I am not gonna talk about that Patek but what' wrong with the world, $300k for a Tudor and that beauty Ferdinand Berthoud selling for less than retail, disappointing!

  18. urban structure says:

    When you have money to waste and give value to watch!!

  19. Thomas Moll says:

    Yes it was „entertaining”. Yes it is for a good cause. And still… It feels a bit indecent to hear a crowd cheer as millions are being tossed around as if it was toy money…

  20. topfuel29 says:

    I'll take (2) please… LoL 🙂

  21. Locutus D'Borg says:

    My bid of 10K USD was rejected. And it was an all-cash bid.

  22. Paul M. says:

    A blonde will never see. 😉
    Good video

  23. siempre bmw says:

    CAN YOU PLACE A VIDEO UP OFF ALL THE PEOPLE THIS SALE WILL BE FEEDING AND HELPING WORLDWIDE .

  24. jeromec says:

    Best coverage I've seen of this event! Thank you!

  25. Norman Misántropo says:

    My alternative TISSOT T-RACE AUTOMATIC CHRONOGRAPH
    T115.427.37.051.01…..

  26. John Burgess says:

    Fabulous !!!

  27. A Silva says:

    My casio wrist watch cried painfully on my wrist

  28. Scott Bott says:

    Rolex bought that Paul Newman Daytona themselves. It hardly counts.

  29. Albert Myers says:

    Yet one more great vid . VIVA WATCH MAKING. for sure

  30. Noel R says:

    I love the Hermes watch.

  31. Poushal says:

    Tax cheats.. tax cheats everywhere

  32. JK JK says:

    Thx for reporting for us who can’t make it there!

  33. todd - says:

    Brilliant wrap up. Thanks.

  34. Herman Ingram says:

    PT Barnum was right.

  35. Herman Ingram says:

    The guy with the phone and the baseball cap is pure class.

  36. Ping Yang Chang says:

    What a good video covering the event!!
    Congrats to PP
    but I am a little bit sad for JLC, that's a good watch, I think it deserved more😥

  37. John O'brien says:

    Totally fucking awful this is a disgusting thing

  38. Zuker Gill says:

    Great coverage of some VERY nice watches. Thank you.

  39. John A Newton says:

    Astonishing watches, incredible prices,superb report as per normal Viva Watches TV !

  40. Jai ShriRam says:

    Well TUDOR performed a bit too fantastic in both GPHG & OnlyWatch. How does such mediocre watches (compared to the other watches in the competition) perform so well?? Guess we'll never know

  41. Marcel David Mitchell says:

    Wow…I’m feeling just a tad under-resourced. Wish I could have been there live to see this worthy event.

  42. SpaghettiKillah says:

    Wooow for 31 mils I thought it's gonna be one of those pocket watches with like 60 complications !
    For a wrist watch that is just a jaw dropping price 😳

  43. SevenW25 V says:

    Very cool inclusion of seeing the reactions of the people! The Rexhepi Bros are cool as hell, and Francoise-henry's reaction was great too. Was that GaryG bidding on the Voutillinen pocket watch?

  44. Pwnage says:

    350k for a tudor.
    wtf?!?

  45. Superlame Username says:

    All those phones.

  46. Matthias Schnapka says:

    By the way….. the owner of PP is flying with his own Gulfstream G650……..now we now how he will finance it ! 😉

  47. Girom Christian Calica says:

    with 31 million dollars you can plant 31 million trees in the amazon

  48. Harshpalsinh Solanki says:

    Great work man

  49. AJT222 says:

    All involved should be ashamed , disgusting display.

  50. spectadour Gaming says:

    4:45 anish spotted

  51. spectadour Gaming says:

    I'd love to see jacob and co. breaking the record

  52. Ulfred Wong says:

    Where is A. Lange & Sohne?

  53. jim munsw says:

    Just superb, like buying candies 😂

  54. spectadour Gaming says:

    what's the name of the gentleman who bought the patek philippe?

  55. Curved Reality says:

    Man this is rolex daytona getting OWNED

  56. Va MVra says:

    Basically this is tax deductable gift to charity and also great Marketing. Behind the scenes this can all be arranged in advance…

  57. Winston Rodrigues says:

    China can make this watch for 120$

  58. samsudin abdul razak says:

    35 million..I will buy it..🙋

  59. Ярослав Sym says:

    to pay an amount equal to the cost of 700 kilograms of gold for a watch is stupid !!!

  60. C J says:

    If you are a Patek owner, you are special and in the next league above us all. Can we now say that the Richard Mille bubble is leaking air? However, I really hope all this money goes to the cause for real. I really do hope. This is madness.

  61. Herman Ingram says:

    Thierry Stern needs to move to the Land of Israel and keep the Mitzvoth. Then, the Messiah will come and there will be world peace.

  62. Herman Ingram says:

    No blacks at the event? Racism!

  63. bluedonkeyman says:

    U said it correctly ..simply marketing.don't forget who owns patek. They're the same families who print money. It's a marketing sham

  64. Chu Piek Yong says:

    Wow 31M watch

  65. Gianpa Kasa says:

    Don't you think that, maybe, because is for charity, maybe, we should consider 10/15% more, given just because is for charity?

  66. Erik S says:

    What a beautiful Patek watch!
    But what a stunning price!
    The previous record with the Rolex was just blown away.
    The great winner is a good cause. And that makes it all give a great vibe.

  67. Joe speick says:

    Looks like a room full of nutjobs to me

  68. daniel holden says:

    sorry, but that watch looks cheap, like cheap flimsy metals and plastic.

  69. Ron F says:

    why are they all holding the phone … just enjoy it live for f*ck's sake …

  70. Raymond Redington says:

    I think the person who bought it is just doing it for tax evasion

  71. Armando P. Problemas says:

    I like watches, but this is just f***********g ridiculous.
    I understand $220,000 for a watch but wtf

  72. djvartan says:

    Dirty money laundering that’s all

  73. Jon Can says:

    How can Rolex even compare to Patek Philippe, A. Lange & Sohne and Audemars Piguet? Rolex is many, many leagues below these true haute horologies.

  74. Joe Luck says:

    If this doesn't cure muscular dystrophy nothings will

  75. Carl Stanland says:

    But… I bought a new G shock… 😔

  76. navidski says:

    This price is absolutely ridiculous and in no way justified. It’s sickening and perverted. No doubt there was a stupid Russian or a dumb Arab responsible for it.

  77. Time&Money says:

    No Rolex this time.

  78. collectors83/2015stig says:

    While i am here still trying to buy a g shock watch

  79. Senkol Z says:

    31 mil? Nah.. I’ll keep it and invest it so it could grow and have fun with it

  80. Poldax says:

    Is that you at 10:20?

  81. Aman Deep says:

    1:07 in case you are just as curious..
    he got a whatsapp text from Tim saying “Pfffffft colonial”
    You’re welcome !

  82. Jewish Hitler says:

    What a waste….

  83. sTL45oUw says:

    Why are everyone recording?

  84. Swiss Watch Gang says:

    Great recap! Thanks guys

  85. Kay says:

    Europeans are "crazy" and inflated. Seiko and Citizen or G's watches any day

  86. Mas Kito says:

    Patek plays dirty games. Got that watch for themselves.

  87. Simon Mitchell says:

    Yikes… But it is a charity auction…someone with as much money as sense?😄

  88. mena seven says:

    The Patek Philippe Grand Master Chime Stainless Steel is a wonderful watch sold at the amazing price of $31 million. The watch design is beautiful, the 21 complications of the watch that include the chime are fantastic and the two faces flip side design of the watch is very imaginative. I find it strange that the three beautifully engraved yellow gold, white gold, pink gold Patek Philippe Grand Master Chime sold for $9 million each in the past and this non engraved stainless steel sold for $31 million

  89. todd - says:

    In all fairness, the FB dial looks like a bumper pool table with all the balls in one corner. They should have done a Luna phase watch.

  90. The Norm Macdonald Show says:

    Winner today Certified loser forever afters. It will never reach that resale value again.

  91. Capt kushal says:

    It's all fake …watch company's intentionally bidding there own watchs for recognition …it may be for charity and they do willing to throw that much for it …it's all part of the plan. Sell your shit some where else please …thank you !

  92. Capt kushal says:

    As usual buyers are discreet …we all know who bought there watch's

  93. Delhi Mafia says:

    I shouldn't be here I should be in school HOW DARE YOU .Nice Europe .

  94. Robert Velasquez says:

    Great review, Marc Andre!

  95. saudinavigator68 says:

    Those people are not crazy, they are greedy and they only pay a dollar to get it back 2 dollars,,, best way for some to make a value for somthing that could be carried and exchange clean money with!!!!!!

  96. Anoni.mouse same says:

    LV piece was very cute. 180 for moronic Chanel though…..oh well .

  97. nick kry says:

    It's not expensive watches, but cheap money))

  98. MrT Baracus says:

    I think it is hard to speak of a genuine record if it was for charity. For charity buyers always go deeper inside their pockets. So, yes, a record but not only due to rarity but also because of charity.

  99. sundayduffer says:

    I like your eyeglasses frame.. can you tell me the model? thx.

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