February 22, 2002, Newsletter Issue #8: Celebrities´ watches raise $1.5 mln

Tip of the Week

October 2000. Arnold Schwarzenegger and Muhammad Ali flexed their muscles to help raise $1.5 million for charity in an auction of celebrities´ watches. The actor and the boxing champ were the hosts of the Christie´s sale that featured Audemars Piguet timepieces worn and signed by them, Mariah Carey, Jon Bon Jovi, Sophia Loren, Sharon Stone and about 30 other movie stars, singers and athletes. Schwarzenegger´s titanium and 18-karat gold chronograph wristwatch from the Royal Oak collection topped the bidding at $340,000. Ali´s 18-karat pink gold watch from the Jules Audemars collection sold for $220,000. Watches belonging to Loren and Stone sold for $75,000 each.

Bon Jovi´s 18-karat white gold oval watch went for $20,000, while Carey´s - an 18-karat gold piece set with diamonds - sold for $21,000. The buyers were collectors, socialites and celebrities, Christie´s said. None were named. A bonus lot was added to the auction when Schwarzenegger took off the watch he was wearing, a prototype he wore during filming of his newest movie, "The Sixth Day." It sold for $35,000. All money raised benefitted the Inner City Games Foundation, which offers sports contests and educational programs for children, and the Muhammad Ali Center, an interactive educational institution.

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