SJX Watches
Business News: Only Watch Reveals Details About Financials and Research
After a unnervingly long wait, Only Watch issued a detailed statement explaining its activities and financials in response to allegations on social media about financial improprieties. While some of the allegations were unfounded, some were useful questions that had to be asked. Fortunately, the statement by Only Watch is not only comprehensive but also promises more to come (once the audited statements are prepared by KPMG Monaco in response to a recently promulgated law in the principality where Only Watch is based). More is certainly needed, but for now the response from Only Watch will quiet reasonable observers. Initial thoughts When the accusations about wrongdoings at Only Watch first emerged on social media, I was sceptical because by and large I believe in Only Watch (I even bought one of the Only Watch timepieces several years ago, albeit an inexpensive one). That said, I could see why such questions came about. The event has become extremely high profile and its founder, Luc Pettavino, a celebrity seemingly dressed in over the top jackets all the time. This all unsurprisingly led to criticism. Still, the fundamental purpose of the auction felt like a genuine cause. I did think some of the questions raised on social media were germane. I expected a swift response from Only Watch, but that took what seemed like a long, long time. Now the reply has arrived and it contains sufficient information that I am reassured, as I think most observers will be. Amongst the not...
