The family of Michael Schumacher has decided to auction off his watches ahead of the upcoming Italian Grand Prix.
The former Formula One driver’s wife , Corinna, was the driving force behind their decision to sell the watches.
The couple has been supporting each other since the tragic accident that almost killed him 11 years ago.
While Michael is recovering from his serious brain injury, Corinna has been keeping his condition private.
She also manages his $970 million fortune. The sale of some of his watches next month will help boost his wealth.
According to reports, the collection of watches could sell for around $6 million.
The auction house, which is handling the sale, expressed its gratitude to the family for trusting it with their assets.
The collection, which includes various watches and pieces from his home, is regarded as one of the most significant pieces of art and memorabilia from the world of Formula One.
The auction will take place on May 13 in Geneva. One of the most valuable pieces of the collection is a rare watch that was given to Michael by his former Ferrari boss Jean Todt.
The watch, which was given to Michael in 2004 with a personal message from Todt, features various symbols and designs that were inspired by his achievements as a professional driver. It is estimated to sell for around $1.7 million to $3.4 million. A similar watch, which was also presented to Michael during the same year, is expected sell for around $425,000.
The watch, which is made by Audemars Piguet, features a design that refers to Michael’s six Formula One championships. It also includes his racing helmet from the time when he was a professional driver. The auction is Corinna’s latest financial move, as she regularly meets with a group of financial advisers to make strategic decisions regarding the family’s assets.
Corinna has been reducing the family’s business empire, which had a total value of around $970 million. She has also sold some of the family’s most valuable assets, such as their house in Norway and Michael’s private jet. In 2022, the Schumachers purchased a land plot in Majorca, Spain, for $52 million. They are believed to spend most of their time in Majorca and at their home in Switzerland.