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Only Watch: “Put our egos aside and join...
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Only Watch: “Put our egos aside and join together”

Sunday, 27 September 2015
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Fabrice Eschmann
Freelance journalist

“Don't believe all the quotes you read online!”

“In life as in watchmaking, it takes many encounters to make a story.”

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5 min read

Forty-four unique watches crossed Aurel Bacs’ podium at the sixth edition of Only Watch, a record in the history of this charity auction.

Osvaldo Patrizzi, co-founder of Only Watch, presided the first three sales. The following two were by Antiquorum. What motivated you to take the podium?

I’ve known Luc Pettavino, chairman of Association Monégasque Contre les Myopathies, which is behind Only Watch, for a long time. He knew I had ties with a certain number of manufactures through their CEOs or their shareholders. We’d been discussing the best formula for Only Watch for some time, then in autumn 2014 decided to work together. It all happened naturally.

Was it important to you?

Absolutely. First of all we are fundraising for a cause which corresponds exactly to my values. We’re fortunate to live the lives we have in Switzerland. Not everyone can say the same. I want to give back a little of what I receive. There is also the pleasure of working with 44 manufactures, each of which has joined in the spirit of the event. Then there is the undeniable prestige of leading such a sale. In a word, there were no end of good reasons for me to say yes straight away.

The sale has always taken place in Monaco, during the Monaco Yacht Show. Why come to Geneva this year?

We noticed that a lot of watch collectors weren’t making the trip to Monaco. We also saw that the manufactures taking part didn’t always have the time to come to the Principality and support their watch right up to its sale. Being in Geneva brings us much closer to this community. Also, November 7th is the first day in the weekend of autumn watch auctions in Geneva that will attract between five hundred and a thousand collectors from Asia and the United States. We may lose a few fans of superyachts, but it will be so much more practical with the infrastructure already in place.

Will this be the first Only Watch of many for you?

That’s entirely up to Luc Pettavino.

There are 44 lots in the sale, a record number in Only Watch's ten years. How did you manage it?

Applications started coming in as soon as my association with Only Watch was announced. Several manufactures called me while I was still in discussions with Luc Pettavino, encouraging me to preside the sale. I then visited each brand, at SIHH and Baselworld. Sometimes just to explain the project and reveal the new formula. Some brands thought the dial had to be in the Monaco colours, which obviously isn’t the case.

Are there any rules?

No, there are no binding conditions. It’s more a philosophy, to create a unique watch. This can be by introducing a different material, an original dial, even an exclusive movement although this latter option is virtually impossible given the extremely high cost.

Osvaldo Patrizzi liked to call Only Watch the "world watchmaking championship". Is this still the case?

Those are interesting terms. This isn’t a championship. Most of all the manufactures want to help raise money for research into muscular dystrophy. A small brand that donates a CHF 20,000 watch is making a far greater effort than a storied Maison that gives a watch with a value of half a million. Every donation is important. If Only Watch is a competition, then it’s a competition for creativity. It takes courage to make something unique. Ultimately, it has to be about enjoyment.

Did you turn down any applications?

Of course. There are boundaries we won’t cross, for the good of the sale. A few Asian brands wanted to take advantage of Only Watch’s international renown by offering quartz watches worth CHF 50. We had to stand firm and refuse perhaps a dozen pieces.

Are the watches really donated?

Absolutely. Also, neither Phillips nor my own firm, Bacs & Russo, take a fee any more than we bill the hours we put in. The full hammer price goes to the Association Monégasque Contre les Myopathies.

Overall, what's your opinion of these 44 lots?

I really am delighted. I know how many hundreds of hours the manufactures spent crafting these watches, and I’m pleased to see some of my ideas come to life! This is the first time I’ve been part of the process…

Which ideas are they?

My lips are sealed! But I did give some advice on how to ensure a one-off watch will appeal to a collector. Otherwise, I’m delighted to see Tudor taking part this year, and by the presence of independent watchmakers such as Richard Mille, F.P. Journe and Laurent Ferrier. Their creations are truly spectacular.

On that subject, isn't it difficult to have brands whose watches command extraordinary prices and other far more modest ones in the same sale?

Why would it be?

Because a brand with big ambitions may be put off by what could seem a disappointing result compared with the EUR 2.95 million which Patek Philippe raised in 2013, for example…

It’s perfectly normal for there to be names large and small in a sale. It’s in the nature of things. Not everyone can play in the same league. Now, if a manufacture wants its watch to be a success, it will take care to invite collectors who appreciate what it does.

Despite the incredible result achieved in 2013, seven brands are not returning this year, including jeweller Bakes & Strauss, Montblanc and Roger Dubuis. Did they feel discouraged?

No. A good many manufactures are extremely busy in autumn. There’s Watches&Wonders in Hong Kong and the SIHH coming up in Geneva shortly after. Several politely declined our invitation for these reasons and wrote a cheque instead.

As a Rolex specialist, can you explain why the brand isn't taking part?

I’m already very pleased that Tudor is taking part. Perhaps this is a prelude to something bigger? There is definitely still a place for other great Maisons at Only Watch.

Is there a number of lots not to exceed for this kind of sale?

At my last themed sale, the Rolex Day-Date, some sixty lots came under the hammer and I don’t recall anyone being bored…

How would you describe the spirit behind Only Watch?

Irrespective of the brand, irrespective of the watch, all that matters is that we put our egos aside and join together to help sick children. Some manufactures were generous to the point of wanting to donate their most costly tourbillon, but what’s best? That we take the risk of seeing a watch worth CHF 300,000 go for CHF 100,000, or that we sell a watch worth CHF 100,000 for CHF 300,000? Sometimes less is more. This isn’t a demonstration of expertise. It’s an appeal to creativity and courage.

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