Porsche family auctioning off watch collection

Times are tough for the Porsche family. Amidst the merger with Volkswagen, their company just suffered a $6.6 billion loss. But we didn't think things were this bad for the descendants of Ferdinand Porsche until Bonhams announced they would be liquidating that family's watch collection to the highest bidder.

Okay, we're exaggerating just a bit. The Porsche family stands to make a lot of money out of the Volkswagen merger, and the collection is being auctioned off for charity. And while we have no idea what charity that is, we have to assume it's not the Porsche family themselves.

As it turns out, the family's interests extend beyond the automobile. Not only does their Porsche Design Group have its own range of watches, but some fourteen years ago they bought Eterna, one of the largest independent watchmakers in Switzerland. Eterna fabricates Porsche Design watches as well as their own brand, and several of the rarest examples will be included along with others among the 49 watches crossing the auction block on December 2 in London.

Among those pieces Bonhams is highlight are included a rare 18kt gold Porsche Design prototype and an Eterna presented to family scion Ferdinand Oliver Porsche on his 40th birthday, along with rare timepieces from Rolex and Omega as well as Panerai (which makes watches for arch-rival Ferrari), Jaeger LeCoultre (which partners with Aston Martin) and Breitling (in league with Bentley). Follow the jump for further details, and check out the images in the gallery below.

[Source: Bonhams]
PRESS RELEASE:

Forty-Nine Porsche Family Watches Line up on Grid for Charity Sale at Bonhams

http://www.bonhams.com/watches

Bonhams is delighted to announce that they will be selling watches from the Private Collection of the Porsche Family in New Bond Street on the 2nd December with all proceeds donated to charity.

Paul Maudsley, Director of the Watch Department at Bonhams, says: "Included in the 49 lots are watches by Eterna, Porsche Design, Rolex, Panerai, Eberhard, Jaeger LeCoultre, Breitling, Chronoswiss and Omega to name a few. Of considerable note are prototypes and unique examples of Eterna and Porsche Design watches made especially for the family including unique KonTiki and Cambridge chronographs and a fine 18ct gold chronograph made especially by Eterna and presented to Dr. Ferdinand Oliver Porsche for his 40th birthday.

The watches come from the private collection of Prof. F. A. Porsche and his sons. Eterna has belonged to the Porsche Family since 1996 and is one of the world's last existing independent watch making companies. During recent years Eterna has once again made headlines with its innovative technical achievements. As a Porsche Design Partner, Eterna is also responsible for the Porsche Design watch collection including the groundbreaking development of the Porsche Design Indicator and the Worldtimer.

Also included in the collection is a very rare Rolex Explorer with Ivory Dial, a selection of Panerai watches and an original Jaeger LeCoultre Polaris from 1960.

Four of the top watches in this remarkable Porsche family collection are lots 140, 147, 148 and 184.

Lot 140 is a Porsche Design. A fine and very rare 18ct gold automatic prototype split second chronograph wristwatch with Certificate of Origin and black Porsche design leather box Dashboard PGR-Gold Rattrapante, Ref:6613.69 prototype, Case No 169.437, Made in 2006 25-jewel ETA Calibre 7750 AR2 movement, self winding mechanical design with ball-bearing-mounted rotor, black dial with white Arabic numerals, subsidiary dials for running seconds, 30 minute and 12 hour recording, hands filled with white luminous, large red second hand, black tachymeter tension ring with white printing (basis 1000), 18ct gold case with scratch-resistant sapphire crystal, transparent sapphire glass back, fitted Porsche Design leather strap with gold Porsche design buckle, case, dial signed, 42mm. Estimate £3,000 - 5,000.

Lot 147 is an Eterna and was specially made and given to Dr. Ferdinand Oliver Porsche by Eterna to celebrate his 40th Birthday. A fine and unique 18ct gold perpetual calendar chronometer chronograph wristwatch with moon phases with transparent case back dedicated 'Oliver Porsche zum 40.Geburtstag-Eterna SA', with Certificate of Origin, papers and wooden box Model 1948, Ref:8515.69.41, Case No 001, Movement No 210605, Made in 1998 25-jewel ETA Calibre 7751 chronometer self winding movement with ball-bearing-mounted rotor signed Eterna-Matic, rhodium plated, decorated by hand, blue steel screws, black dial with gold indices, dial graduated with 1/5th second intervals, subsidiary dials for running seconds, 30 minute and 12 hour recording, 24 hour hand, pointed gold hands with luminous inserts, month and day window at 12, Moon phase at 6, chronograph with centre seconds hand, date display with centre hand, satin finished rose gold case, leather strap with gold Eterna deployant clasp, case-back marked No.001-Eterna-1949-8515.69.41, transparent centre sapphire case back marked 'Oliver Porsche zum 40. Geburtstag-Eterna SA' case, dial crown and movement signed, 39mm. Estimate £4,000-6,000.

Lot 148 is a Jaeger LeCoultre. A fine and rare stainless steel automatic wristwatch with alarm Polaris, circa 1960 Jewelled automatic movement with alarm, black dial with Arabic numerals and indexes, outer dot minute divisions with 5-minute/ seconds markers and Arabic quarters, aperture for the date, luminous steel baton hands, polished and brushed case with, chamfered bezel, fitted leather military style strap with stainless steel buckle, case dial and movement signed 42mm. Estimate £5,000 - 7,000.

Lot 184 is an IWC. A fine stainless steel automatic split second chronograph calendar wristwatch together with fitted presentation box and papers Doppelchronograph, Ref:3713, Case No.2951014, Sold February 1st 2008. Jewelled automatic movement, matt black dial with Arabic numerals, outer 5 minute divisions, subsidiary dials for running seconds, 30 minute and 12 hour recording, luminous hands, apertures for day and date, brushed and polished case with screw on back, split-seconds button at 10 o'clock, twin pushers flanking the crown, fitted makers leather strap and buckle, together with wooden presentation box, outer card, cloth, instruction and guarantee papers, case, dial and movement signed, 40mm. Estimate £3,000 - 5,000.