Only Watch, the world’s most important watch auction for charity, last Monday canceled a high-profile auction due to take place in Geneva on Nov. 5 amid controversy over how it spent more than half of the €100 million it has raised since 2005.
The news has polarized the entire luxury watch industry, with some major brands such as Audemars Piguet and Patek Philippe eager to distance themselves from the auction while others such as F.P. Journe continue to support it.
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