Christie’s spring Geneva watch auction season was hit by a cyberattack last week, which not only affected the already troubled Only Watch charity auction but also derailed the auction of Michael Schumacher’s timepieces. According to a Christie’s spokesperson, the Rare Watches auction, which includes watches belonging to seven-time Formula 1 champion Michael Schumacher, has been moved to Tuesday. The auction house’s website went offline last Thursday and remains that way due to what it describes as a “technology security issue.” Christie’s was unable to fix the technical snag caused by the cyberattack over the weekend, forcing it to postpone the Geneva watch auction until 2 PM on Tuesday, May 14. However, the auction house has managed to add links to the catalogs of seven upcoming auctions.
Despite Christie’s website failure, the controversial Only Watch auction still went ahead on Friday and was able to raise roughly $31 million. In a statement to The New York Times, Christie’s CEO Guillaume Cerruti claimed that eight of its upcoming auctions would proceed as scheduled this week. However, the bids will only be accepted in person or over the phone. “We are looking forward to welcoming you to our exhibitions and to registering you to participate in these auctions,” Cerruti said in the statement. You might remember that Christie’s has fallen prey to a cyberattack previously. According to a report by The Washington Post last August, a German cybersecurity company had discovered a data breach at the auction house, raising alarm bells.
The Rare Watches auction will now place at the Four Seasons in Geneva on May 14, which includes eight timepieces owned by one of the greatest Formula 1 drivers of all time. According to Christie’s, two of eight rare watches are custom timepieces that were given to the driver as Christmas presents by his mentor and former Ferrari team principal, Jean Todt. It includes a highly desirable Audemars Piguet Royal Oak, which the auction house describes as “particularly notable.” Estimated to sell between $166,000–$276,000, the three subdials feature customized details that highlight Schumacher’s career and accomplishments. However, the unique F.P. Journe Vagabondage 1 Model is the centerpiece of the auction. Crafted by watchmaker François-Paul Journe in 2004, this custom-made timepiece is expected to fetch upwards of US$2.2 million.
