SJX Watches
Editorial: Geneva Auctions Fall 2024
Perhaps the most surprising moment of the fall auction season in Geneva was when the hammer came down on an MoonSwatch at Christie’s for CHF69,300 including fees – exactly the same as a Rolex GMT-Master II “SARU” that sold later in the day. But as is almost always the case with record prices at auction, there was a story behind the price and a method to the madness. The MoonSwatch was the unique “millionth” example conceived specifically for this auction, where all proceeds went to ELA, a French medical charity. The ELA sale was spearheaded by Francois-Henri Pinault, the chief of Kering, the luxury conglomerate that owns Christie’s, and certainly one of the most influential people in the luxury goods business. Sitting in the room and opening the sale was Mr Pinault’s fellow trustee at ELA, Zinedine Zidane, the French footballer better known as Zizou who’s regarded as one of the all-time best players and coaches. Christie’s auctioneer Rahul Kadakia with Zizou. Image – Christie’s Bidding via phone, the winning bidder of the MoonSwatch – which sold for over 150 times the retail price – announced to the room via a Christie’s rep that his winning bid was for “ELA and Zizou”. It was clearly a statement that he or she would have paid up for whatever watch was on sale, regardless if it was plastic or precious metal. It was a good deed done that was no bearing on the MoonSwatch or watches in general. To the moon MoonSwatch aside, the season was pos...
