Only Watch 2011 Auction Sets New High at Monaco Yacht Show

Forty magnificent timepieces were auctioned raising record prices during the Monaco Yacht Show.
Only Watch is a bi annual auction in which Watchmakers from Switzerland donate fine examples of their craft to benefit research into Duchenne Muscular Dystrophy.
The auction was held in Monaco at Hotel Hermitage, during the Monaco Yacht Show under the patronage of HSH Prince Albert II.
Duchenne muscular dystrophy is a serious genetic disorder affecting 1 out of every 3,500 boys. It is characterised by a progressive weakening of the muscles, resulting in respiratory and cardiac problems that become fatal as the child gets older. There are around 30,000 sufferers of the disease in Europe alone.
In previous years the time piece from Patek Philippe has set the bench mark reaching the highest price of half a million euros. 
The manually wound wristwatch has a minute repeater, Tourbillon escapement, black enamel dial and a stainless steel Patek Philippe prong buckle.
This year the company’s  Genève model, reached a staggering price of 1.4 million euros with telephone bidding open to collectors around the world.
Overall the auction raised € 4,563,000 a huge increase over previous years.
After the 2009 event over 3 million euros was donated to 15 scientific partners and their teams – including 90 researchers and clinicians in 5 countries including:
  • France
  • Italy
  • Switzerland
  • United Kingdom
  • United States