Always pay attention when a racer’s watches go on auction. F1 legend Michael Schumacher’s collection, which fetched $4.4 million at Christie’s, is no exception. Let’s unpack.
Automotive sports and timekeeping go hand in hand. In fact, and unsurprisingly, if you really think about it, racing watches have historically been vehicles for horological innovation.
Where else is telling time and keeping score more important than on the race track? Why do you think NASA tapped brands for their best racing watches as candidates for the first watch on the moon?
My point is that even from the market’s point of view, the watch community loves this relationship. It’s a record-breaking relationship. Think about the Paul Newman Daytona that most know about.
Most recently, there’s Michael Schumacher’s collection that Christie’s sold for $4.4 million.
Is this topic fascinating because we haven’t seen the legendary racer since his accident in 2013? Or is it interesting because Christie’s suffered a cyber attack right before their marquee sales and bounced back?
I’d say yes, yes, and yes.
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Schumacher and His History With Watches
German race car driver Michael Schumacher has many accolades. He competed in Formula One for Ferrari, Mercedes, and many others. When he retired in 2012, he held several records, including seven titles in the World Drivers Championship.
So, yes, he’s good if you didn’t know.
Unfortunately, he was involved in a skiing accident in 2013. Since starting his rehabilitation, he hasn’t led a particularly public life.
But today is about happier things — Schumacher’s watches.
Like many iconic automotive athletes, Schumacher has a special relationship with timepieces. He has several unique gifted pieces and was even partnered with Omega.
The Omega Speedmaster Racing is a good example. When looking at the Speedy subline, we tend to think about space travel. I love that the Speedmaster Racing variation reminds us of its origins in the tracks.
Michael Schumacher launched this variation in 1996 when he became a brand ambassador for Omega. Then, in 2000, after he won his third title, released Omega the Schumacher edition Speedmaster Racing. It had his signature on the back.
If this gent isn’t a representation of racing’s relationship with watches, I don’t know who is.
Leading Up to the Auction
Here’s something you guys might not know, coming from an auction world professional: May and November are what we call marquee seasons. It’s when the industry hosts its most important sales: the modern and contemporary evening sales.
It’s an all-hands-on-deck, sleep-is-for-the-weak time for the team.
This year, Christie’s suffered a cyber attack leading up to marquee week. Their website was down, which meant bids could only be placed via phone or in person.
Imagine, during a crucial time of necessarily heavy and constant communication, being told you couldn’t text or email. That you’d need to call or visit — regardless of your proximity.
I remember first seeing Wall Street Journal art writer Kelly Crow post the news on her Instagram. Yes, I’m with Sotheby’s, but I wasn’t happy with my competition’s bad luck. As hard as art professionals work during this time of year, you wouldn’t wish that upon your worst enemy.
The reason I tell this story is because I think it makes the results of the auction even more remarkable.
It reminds me of the 1996 Spanish Grand Prix. There wasn’t just pouring rain, but Michael Schumacher was dealt some bad cards, having experienced major clutch issues. Still, he managed to finish (just one of six), lapping every racer but two.
Would Christie’s have done better without the interruptions? Possibly. Same with Schumacher. But come on, the 1996 Spanish Grand Prix was one of his coolest rainy races.
The Auction
Okay, now that we have the drama out of the way, let’s talk about the auction.
Because of the attack, Christie’s Rare Watches sale was postponed. However, on Tuesday, May 14, at 2 pm, they were back in business.
Among the 164 lots in the sale were Michael Schumacher’s watches. The eight of them were spotlit as premium gems within the collection.
The entire auction raked in 22,821,050 Swiss Francs, which is 24,940,440 US dollars. Not too shabby. And, as mentioned, Schumacher’s watches themselves brought in $4.4 million in US dollars.
Not only was this auction a follow-up to a highly successful 2023 Geneva auction, but it also commemorated something special. In 1994, Michael Schumacher won his first Drivers Championship at Formula 1 — of course, this would be the first of seven.
The auction, which took place in the Four Seasons Hotel des Bergues in Geneva, marked the 30th anniversary of Schumacher’s inaugural win. His watches also appeared in New York City and Taipei prior to this.
I already mentioned that spring is the time for auction houses to put their best foot forward. So, I wanted to mention the 1948 Patek Philippe Reference 1518. It became the best-selling wristwatch sold in Geneva this season.
It wasn’t one of Schumacher’s, but if I understand auctions, I’m sure adding his name to the tag upped interest.
Most of his eight watches performed reasonably, most falling somewhere between the low and high estimates. This is respectable, but there were definitely some highlights worth mentioning.
Schumacher’s Watches
Lot 136 was the highest-selling timepiece from the racer’s collection. It was a special F.P. Journe Vagabondage that he received as a Christmas gift in 2006. French motorsport executive Jean Todt commissioned its uniquely industrial yet fanciful dial.
It flaunts a bit of an open heart, allowing the gold inner workings to peek out and Porsche applications. It went for CHF1,497,000 Swiss Francs or $1,646,700 US dollars.
I should mention that when he was racing for Ferrari, Schumacher saw Todt as a mentor of sorts. Todt considers Schumacher family, and is actually one of the few people who’ve seen the racer since his accident. Todt is on the shortlist, and visits Schumacher in his home.
So, it’s no surprise that Todt has another commissioned piece in this collection. Lot 130 was an Audemars Piguet Royal Oak chronograph, another gift to Schumacher. It celebrates Schumacher’s Formula 1 victories.
Also featuring the horse emblem, this watch achieved CHF 415,800, or $457,380. In my opinion, this may have been a steal. Congrats to whoever won it.
Schumacher’s entire ruthenium five-set collection from FP Journe sold for CHF 1.7 million, or US $1.8 million. These were sporty yet romantic pieces, with Wonderland-esque fonts, fun open hearts, and hints of royal blue applications throughout.
And last but not least was Michael Shcumacher’s Rolex Daytona. Against an estimate of CHF 200,000 to CHF 400,000, this rare gem achieved CHF 315,000, or $346,500 in US dollars. It’s, of course, the always-in-demand Paul Newman edition.
This model, the Reference 6262, was only in production for two years, starting in 1970. Again, this is another steal, in my opinion. It’s a recognizable Daytona with connections to both Newman and Schumacher.
If you have questions or comments leave them down below!
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