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7 October 2008

Pagoda Collection's Spectacular Result

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OMEGA and Sotheby’s Hong Kong joined hands for charity auction of the “Beijing 2008, Unique No. 8 Collection” The collection fetched HK$9,620,000 (1,231,071 USD) at the auction

Hong Kong, 7 October 2008 – OMEGA, in partnership with Sotheby’s, today held a charity auction of all 35 of the timepieces released to celebrate OMEGA’s role as Official Timekeeper of the Beijing 2008 Olympic Games. The timepieces, collectively known as the OMEGA “Beijing 2008, Unique No. 8 Collection”, were auctioned off as part of Sotheby’s Important Watches Autumn Sale 2008 earlier today at the Hong Kong Convention and Exhibition Centre. The Collection was sold for HK$9,620,000 (1,231,071 USD)*;

 

This one-of-a-kind Collection was created to commemorate OMEGA’s role as Official Timekeeper of the Beijing 2008 Olympic Games. The Collection features 35 OMEGA timepieces, including the eighth numbered timepiece from each of the 32 limited edition watches released in the Beijing Olympic Collection during the build-up to the Games and three “Olympic Split Seconds Chronograph 1932” pocket watches. Each watch bears the limited edition number of 8 and is covered by an exclusive 8-year warranty. The Collection was presented in a custom-made black lacquered walnut presentation cabinet reminiscent of traditional Chinese architecture, earning it its nickname of “The Pagoda”.

 

To aid youth affected by this year’s tragic earthquake in Sichuan, OMEGA is pleased to announce that the full proceeds from the sale (HK$8,000,000) will be donated to the Chinese Athletes Educational Foundation (CAEF) in support of its “All-weather Playground” project in Sichuan. The objective of the project is to help local students recover from the psychological trauma of the disaster through sports and team activities. OMEGA’s auction partner Sotheby’s is also demonstrating its support by donating part of its auction proceeds to the foundation.

 

OMEGA President Stephen Urquhart congratulated the new owner of the Collection on his successful bid and commented on the Unique No. 8 collection, saying, “There is no other Olympic collectable like this and there can only be one owner of such a singular collection, but OMEGA is extremely pleased that by offering it in this special auction, the benefits of these remarkable timepieces can be extended to so many youth in Sichuan. “

 

CAEF’s gratitude was expressed by Li Ning, the charity’s founder, renowned Chinese Olympic gymnast and the man who lit the torch to open this year’s Beijing 2008 Olympic Games, who said, “The generosity of OMEGA and Sotheby’s has given all of us involved in the rebuilding effort in Sichuan great encouragement. The funds raised from this remarkable auction can help the development of our ‘All-weather Playground’ project and provide much needed joy to all of those affected.”

 

This meaningful and successful charitable auction marks another milestone in OMEGA’s legendary Olympic history.

 

* The price includes the buyer’s premium.

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The Collection