Only Watch
Biennial charity auction held in Geneva since 2005, raising funds for Duchenne muscular dystrophy research. Each participating brand donates a unique piece (a "pièce unique") created specifically for the auction. The most prestigious one-off watch event in the industry.
Only Watch is a biennial charity auction held in Geneva since 2005, raising funds for Duchenne muscular dystrophy research through the Monaco Association against Duchenne Muscular Dystrophy. Each participating brand donates a unique watch (a pièce unique) created specifically for the auction. Only Watch has become the most prestigious one-off watch event in the industry.
How Only Watch works
- Brands donate unique pieces created specifically for the auction. The same model in the brand's regular catalogue is unavailable elsewhere — the dial, case material, complication, or other element is unique.
- All proceeds (after auction-house costs) go to medical research.
- The auction is held in November of odd-numbered years, traditionally at Christie's Geneva or, more recently, at Christie's and Phillips alternating.
- Brand participation is open to traditional Swiss manufacturers, independent watchmakers, and increasingly micro-brands.
The 2023 edition raised €27.5 million from approximately 60 lots.
Notable Only Watch lots
- Patek Philippe ref. 6300A-010 (steel Grandmaster Chime, 2019) sold for CHF 31 million — the most expensive wristwatch ever sold at auction. The 6300A was created specifically for Only Watch in steel, while the regular production 6300 is precious metal only.
- Audemars Piguet Royal Oak Concept Tourbillon Chronograph in titanium and tantalum (2017) sold for CHF 1.45 million.
- F.P. Journe Astronomic Souveraine (2019) — a 18-complication piece — sold for CHF 1.8 million.
- Vacheron Constantin Les Cabinotiers unique pieces consistently in the CHF 500,000 to CHF 5 million range.
Why Only Watch matters
- Brand reputation showcase. Brands compete to create the most ambitious Only Watch piece as a demonstration of capability. The donation is effectively expensive marketing.
- Pricing benchmark for one-offs. Only Watch results establish the upper-bound for what brand-specific pieces in steel or unique configurations can achieve.
- Charity impact. The cumulative fundraising since 2005 exceeds €100 million for Duchenne muscular dystrophy research.
- Collector access. Some Only Watch lots are the only opportunity for collectors to acquire specific configurations (e.g., the Patek 6300A steel was an unrepeatable opportunity).
Implications for dealers
Dealers rarely participate as bidders unless representing a specific high-net-worth client. The relevance to working dealers is:
- Result reading. Only Watch results feed into the secondary-market pricing benchmark for similar configurations in the year following the auction.
- Brand prestige indicators. A strong Only Watch result for a brand can lift the brand's general resale prices over the following months.
- Reference availability. Pieces unique to Only Watch occasionally enter the broader market through resale years later. Provenance documentation from Only Watch is significant value.
Related: auction-house, phillips-watches, christies-watches, watches-and-wonders.