8 watches owned by F1 great Michael Schumacher fetch more than $4 million at auction in Geneva
GENEVA (AP) — Eight watches belonging to auto racing icon Michael Schumacher sold Tuesday for nearly 4 million Swiss francs ($4.4 million) at a Geneva auction.
The top piece in the sale, organized by Schumacher’s family, was a watch given to the German racing superstar by former Ferrari CEO Jean Todt as a Christmas present in 2004. The hammer came down at a price of 1.2 million francs, or 1.5 million including the buyer’s commission.
That was well within the pre-sale estimate range of 1-2 million francs.
The custom-made platinum timepiece from F.P. Journe, the Vagabondage 1, features 18-carat white gold, a red watch face and images of a Ferrari logo, Schumacher’s racing helmet and a “7” — to honor his seven World Championship victories.
Remi Guillemin, head of watches for Europe and the Americas for auction house Christie’s, declined to identify the buyer, but said that five watches in the Ruthenium collection — a boxed set — were purchased by the same buyer.