MoonSwatch suitcases fetch more than $600,000 at Sotheby's
Each of the suitcases had a pre-auction estimate of 5,000 francs to 10,000 francs
A series of limited edition MoonSwatch watches in special branded suitcases raised more than half a million Swiss francs for charity, underscoring collector demand for the Omega-branded timepieces.
The Sotheby's online auction for 11 sets of 11 MoonSwatch Moonshine Gold watches raised a total of 534,670 Swiss francs ($607,000), Omega SA, the Swatch Group AG brand, said in a statement. The highest price paid for a set was 60,960 francs and the lowest was 38,100 francs.
Bidders are still willing to pay a significant premium for rare examples of the collaboration between the budget Swatch brand and the luxury marque Omega. The limited edition watches, which are housed in a resin case material Swatch calls "bioceramic," cost about 275 francs each when sold at retail.
The 11 Moonshine Gold limited edition MoonSwatches put to auction included unique design elements and a second hand coated in gold paint. The models were originally sold in limited quantities at Swatch stores and the company said they were produced during full moons or other lunar events.
Each of the suitcases had a pre-auction estimate of 5,000 francs to 10,000 francs. Swatch Group said the proceeds are donated to Orbis, a charity dedicated to preventing blindness and vision loss.
Pandemonium
The March 2023 launch of the MoonSwatch, a collaboration between Swatch and Omega that combined affordable mass production with design elements of Omega's iconic Speedmaster Moonwatch model, caused retail pandemonium at the time.
Buyers swarmed Swatch stores and demand outstripped supply with the watches priced at about 260 francs at retail initially selling for major premiums on the secondary market. Swatch sold more than a million MoonSwatches that year and said sales of the original Omega Moonwatch were also given a boost, jumping 50% at its own boutiques.
Swatch Group launched a follow-up to the MoonSwatch in 2023 with the Blancpain X Swatch Fifty Fathoms that was a bioceramic version of the Blancpain brand's famous dive watch priced at about 400 francs.
Speedmaster scandal
Auctions of Omega watches have been under scrutiny following a scandal last year involving company employees and the record sale of a vintage Omega Speedmaster. Swatch Group alleged three of its former employees were involved in a plot to sell a doctored version of a 1957 Speedmaster at auction.
Omega bought the watch in 2021 for more than 3.1 million Swiss francs. It filed a criminal complaint against the employees last year after the watch was revealed to have been constructed of non-original parts from other watches and possibly fake components, the company said.
Prosecutors in Bern are investigating the case. No criminal charges have been filed.