The highly anticipated charity watch auction, Only Watch, is back on track after being canceled last fall due to a social media storm over financial and research transparency. The event, which supports research into Duchenne muscular dystrophy, a genetic disease that primarily affects boys, will now take place on May 10.
Founder of the event, Luc Pettavino, announced that independent auditors have certified all accounts for the last three years, addressing concerns raised about the organization’s transparency. More than 45 unique watches pledged for the original auction will be sold by Christie’s at the Palexpo exhibition center in Geneva, with contributions from prestigious brands such as Patek Philippe, Louis Vuitton, and TAG Heuer.
The Association Monégasque Contre les Myopathies, the organization behind Only Watch, has raised 110 million euros since its founding in 2001. However, it had never undergone audits until Monaco announced the requirement in 2023. The association faced scrutiny after Instagram posts questioned its transparency, leading to a review that revealed the allocation of funds to research and administrative costs.
In response to the criticism, the association has created an endowment fund to hold shares of supported companies and established strategic and scientific committees involving partners. SQY Therapeutics, a company supported by the association, announced the approval of a second phase clinical trial for a drug developed with their assistance.
Despite the challenges faced, several watch brands have expressed their support for the auction’s return. Edouard Meylan, CEO of H. Moser & Cie, emphasized the importance of transparency but also noted the biased and personal attacks the organization faced. With high-profile brands back on board, the auction is set to be a success, bringing hope for advancements in Duchenne muscular dystrophy research.
