Omega auction raises money for worthy cause

The auction benefits a worthwhile cause, meanwhile watches in Elton John’s collection have sparked furore.

One of the 11 MoonSwatch Moonshine Gold suitcases sold through Sotheby’s.

An auction of 11 specially crafted Omega x Swatch MoonSwatch Moonshine Gold suitcases containing all 11 of the brand’s ‘Mission to Moonshine Gold’ watches sold over the weekend for 534 670 CHF (approximately AUD$815,499).

The auction, hosted online by Sotheby’s, will donate all of the profits to Orbis International, a charity focused on blindness prevention in children that Omega has been a long time partner for.

Prior to the auction the suitcases were on display in boutiques around the world, including Sydney.

The results reached beyond the initial estimate and speak to the fervour the timepieces have caused since they first debuted in 2022.

Omega and Swatch (sister companies in the Swatch Group) debuted the MoonSwatch in March 2022. The quartz-powered Speedmaster, cased in 11 different shades of Swatch’s Bioceramic plastic and decidedly more affordable than a regular Speedmaster, sparked queues snaking around the block.

One of the 11 MoonSwatch Moonshine Gold suitcases sold through Sotheby’s.

Building on the frenzy, the partnership expanded to the 11 Mission to Moonshine Gold variants, the seconds hand coated in 18 carat MoonshineTM Gold, an in-house alloy created by Omega.

The auction isn’t the only watch auction to be causing a fuss this week and continuing the splicing of culture and pop culture with the watch world.

Elton John’s leopard Rolex Daytona, part of Christie’s Collection of Sir Elton John Goodbye Peachtree Road sale just set a new world auction record for the model.

It wasn’t the Rocket Man’s only significant time piece in the collection either. Two more watches achieved exceptional results – a limited-edition of the now cult Cartier Crash sold for USD$277, 200, nearly four times its estimate, and a signed Cartier Tank Normale went for USD $176,400, nearly nine times its estimate and a record sale for the model.

Patricia Kontos, senior specialist Timepieces and Jewels at Australian auction house Leonard Joel, which will present a Timepieces auction next month, says judging by watch auctions sales results last year there has been a slight correction towards the year’s end, but the demand for the top Swiss makers is certainly not disappearing any time soon. As other goods fluctuate, watches, she says, “tend to stabilise and if anything, grow.”

Kontos advises thinking about investing in watches as a long term prospect, and a statement of personal style.

“Wearing a fine timepiece is a statement and expression of person style. Certain collectible high end watches carry a priceless heritage and association which the brands play upon,” she says.

Kontos says she’s noticed other shifts in the watch auction scene too.

“The demand for high end watches tends to come mostly though not entirely by male collectors looking for an investment angle or for resale down the track. We are now seeing far more female buyers entering the market which also reflects women’s increased presence in top end of the corporate sector armed with serious buying. There are also buyers that seek more interesting vintage and antique watches that are rare and form part of a client’s collection,” she says.

The Omega auction comes as Swatch teases on Instagram what is being interpreted as an announcement for an upcoming Silver Snoopy MoonSwatch.

A short video of Snoopy carrying a birthday cake was posted by Swatch on Instagram on February 19, sparking intense discussion in watch forums.

If it happens it wouldn’t be the first time either brand has dabbled with the beloved cartoon beagle.

In 2003 Omega released a Speedmaster featuring an Astronaut Snoopy sub-dial (and as Esquire magazine points out, you can still get one at Selfridges for the kingly price of £25,000). Meanwhile Swatch did a whole collection centred on Snoopy and his Peanuts gang in 2021.