Only Watch, the highly anticipated charity watch auction that was abruptly canceled last fall amidst a social media firestorm, is back on track and set to take place on May 10. The event, which supports research into Duchenne muscular dystrophy, a genetic disease that primarily affects boys, was initially postponed due to concerns over financial and research transparency.
Founder Luc Pettavino, who tragically lost his son to the disease in 2016, announced that independent auditors have now certified all accounts for the last three years. This move comes after a wave of scrutiny following Instagram posts questioning the association’s transparency and the disbursement of funds to related companies.
Despite the setbacks, more than 45 unique watches have been pledged for the auction, with top brands like Patek Philippe, Louis Vuitton, and TAG Heuer participating. The event will be held at the Palexpo exhibition center in Geneva, with proceeds going towards research efforts.
In a bid to address concerns and improve accountability, the association has created an endowment fund to hold shares of related companies and established strategic and scientific committees. SQY Therapeutics, a company supported by the association, recently announced approval for a second-phase clinical trial of a drug developed with their assistance.
Watch brands have rallied behind the event’s revival, with H. Moser & Cie CEO Edouard Meylan expressing support for the auction. Despite the challenges faced, the auction is poised to make a comeback, with a renewed focus on transparency and advancing research efforts for Duchenne muscular dystrophy.
