Auction in Geneva
Schumacher’s most valuable watch was a “bargain”
Michael Schumacher's family has earned more than three million euros by auctioning off eight watches from the former German racing driver's collection. The most valuable timepiece was a watch from the F.P. Journe manufacture, probably from 2004, which was made especially for Schumacher. It changed hands on Tuesday evening at Christie's auction house in Geneva for 1.2 million francs (just over 1.2 million euros) - a "bargain" considering that the estimated price was between one and two million francs.
The watch has symbols of the seven world championship titles on a red dial and a dedication from the former team boss of Ferrari, Jean Todt, who gave it to the sportsman as a Christmas present.
A Schumacher Rolex went for 250,000 francs, and an Audemars Piguet watch for 330,000 francs. Five other F.P. Journe watches fetched a total of almost 1.4 million francs. Buyers had to dig a little deeper into their pockets, as the auction house's commission of around 26 percent was added to each price.
Several watches were auctioned at the lower end of the estimated price. The Ferrari red watch was estimated at around one to two million francs - without a celebrity mark-up, as the auction house assured. The cheapest item from Michael Schumacher's estate made the biggest leap upwards: the Christie's expert had estimated a casket for the five F.P. Journe watches at 5,000 francs (5,110.38 euros). It went to a new owner for three times that amount.
No information about the buyer
The auction house kept the buyers confidential. Information about the bidders is subject to the utmost discretion and will only be revealed with the express permission of the new owners.
Schumacher lives with his family not far from Geneva on Lake Geneva. He has not appeared in public since a serious skiing accident in 2013. The family has not provided any information about how he is doing. Schumacher was a passionate watch collector.
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