Watches owned by Formula One star up for sale

EIGHT luxury watches belonging to Formula One star Michael Schumacher are going up for sale at Christie’s.

The sale, which is organised by Schumacher’s family, features a watch that was given to the German racing superstar by former Ferrari chief executive and former motorsports governing body FIA president Jean Todt as a Christmas present in 2004, when Schumacher was the dominant force in F1.

The custom-made timepiece features 18-carat white gold, a red watch face and images of a Ferrari logo, Schumacher’s racing helmet and the number 7 to honour his seven World Championship victories.

The pre-sale estimate suggested it could bring as much as two million Swiss francs (£1.75 million), Christie’s said.

Other Schumacher watches include five in a single box set that will be auctioned off individually.

The sale has been timed for the 30th anniversary of his first Formula One Drivers’ Championship win in 1994.

“We were approached by the family to put these pieces up for for auction, and the reason is unknown to us,” said Eli Fayon, a Christie’s watches specialist.

The watches, which were taken to New York and Taipei for showings before the sale, are part of a larger auction of luxury timepieces to go under the hammer today at Christie’s in Geneva.

Also today, Sotheby’s was set to hold a jewellery auction featuring a 100-carat yellow diamond with a pre-sale estimate of up to 6.5 million francs (£5.7 million).

Schumacher, who retired from F1 in 2012, shares the record for most F1 titles with British driver Lewis Hamilton.

In December the following year, Schumacher fell while skiing in the French Alpine resort of Meribel and suffered a near-fatal brain injury.