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>The sale, organized by Schumacher’s family, features a watch that was given to the German racing superstar by former Ferrari CEO 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 honor his seven World Championship victories. The presale estimate suggested it could bring as much as 2 million Swiss francs (about $2.2 million), Christie’s said.
I can't believe they're selling that. I know it's obviously worth a lot of money but you'd imagine it would mean a lot to them.
On the one hand it really sounds like an iconic watch with a lot of emotional value but on the other hand I would probably never wear it so if it's just on display somewhere I get why the family would rather sell it.
(I'm sorry to say I also don't really 'like' it, but I don't know if that's even the point for a 2 million dollar watch.)
> you can rack up millions in experimental treatments pretty easily in a decade.
Schumacher was one of the first sports billionaires and based on him moving to Switzerland he is clearly financially literate enough to just invest his money.
There is no way his medical costs even put a dent into the growth of his net worth just from passive investments (and i think they still sell his likeness to DVAG?).
They are going to be broke by the next generation. Only god knows what's the real purpose of selling michaels things.... (They already sold some cars of his too)
If invested well that really isn’t a concern. I don’t want to sound harsh but if they’re throwing away millions on experimental treatments because of a traumatic brain injury maybe they should just accept it and have the best care available.
Because keeping a 2 million dollar watch with sentimental value to Michael is more important? Sheesh.
This family will be absolutely swimming in F1 memorabilia, how much do you think they need? The watch was a gift, does it even have much history attached to it? Not worth close to 2 mill to them for the memories, when they will have so many things that are as meaningful and significantly less valuable.
I can’t reply to everyone who’s replied to my comment saying the same sort of thing. But Michael’s treatment is fairly hush hush but it’s been estimated his care is costing approx 120,000 euros a week. Deep pockets are only so deep. He’s been in care like this for over 10 years. The first years would have been considerably more expensive.
Because its just another trophy at the end of the day. A cool and unique sort of trophy but still just another trinket celebrating Michael and his success as a race car drivers
You don't collect watches, which is fine, know about watch collections, which is also fine, or understand the difference that this is a commemoration of his life achievements within an organization. Saying its just another trophy is crazy.
At the end of the day - it is. You can call it commemoration if you'd like but it is just a trophy and a trinket and I'm certain somebody with as many trophies as Michael has plenty of those lying around, probably many with far more sentimental value.
Don't try to belittle me, you know nothing of what I collect or not. Why should this particular one be of more value than his 7x WDC trophies or 90+ win trophies or 155+ podium trophies? They serve the purpose just as well if not better - a room filled with his trophies signify his achievements far better than a watch.
It seems like it was just a christmas gift he got in 2004. Just because something is expensive, it doesn't mean it has a lot of sentimental value. I could see it being more meaningful if it was for a certain occassion but I doubt an expensive watch meant much to Michael by 2004 - it was a really nice gift but it was hardly going to solidify the already strong relationship between the two.
Yeah a 1:1 time piece that is a commemoration of all your achievements as a professional athlete for that team is really just a christmas gift.
I guess when people get a retirement rolex its just for funsies and means nothing.
Also comparing the average person getting a retirement watch with Schumacher is insane - the dud probably has an entire room of them.
I feel like I addressed that point? This wasn't a retirement gift, just a christmas gift from 2004.
I am pretty sure they dont sell it because of financial hardship. Michael accumulated tons of such things. The [Michael Schumacher priavt collection](https://www.privatecollection.ms/en/site/index) includes stuff like 12 F-1 cars and offers free enty to everyone... This thing alone (Building, the collection itself, ...) could make more money than those watches every year just by charging an entry fee.
The reason they sell those watches is most likely nobody wears them and they are incredible fugly. Just look at those [abominations](https://www.brisant.de/stars/michael-schumacher-uhren-106-resimage_v-variantSmall16x9_w-960.jpg?version=2499). The fact that some of them dont even show any signs of wear tells you everything you need to know. (That Michael put them into a drawer and never cared about them again.) For collectors those are not "The watch of Michael Schumacher" but "A watch once owned by Michael Schumacher". That difference can decide of it makes 100k or 2 million in auction.
Yes, they are collectible timepieces.
However, there are a indicators that the family could be in need of cash - we don't know but it is a realistic possibility.
I read somewhere Corinna has been selling off a lot of their belongings and maybe even their ranch/property to make money since Michael’s healthcare is really really expensive. Might be wrong though.
I can't possibly believe it's that expensive, he was easily a nine-figure millionaire before the accident. The interest on that money could pay for medical care. In Forbes, Sports Illustrated and other celebrity sports star lists, Michael often made as much or more than Michael Jordan between salary and endorsements. In the 90s and 2000s, Michael Schumacher was usually listed as the top paid international sports star, making much more money than soccer players of the time. And his endorsements were worldwide, unlike most US sports stars.
Yes, the interest could, but they’re not earning interest on it. The properties (unless investment properties) are likely costing them money, not earning it. It’s not so much that they’re selling to pay for the medical expenses, but rather selling so that they can liquidate their wealth and invest it so that they can use the returns to cover their expenses. They likely didn’t anticipate how expensive their retirement would be (given that they wouldn’t have factored in his medical condition), and probably didn’t invest enough to cover their lifestyle, so now they’re downgrading their lifestyle and increasing their investments. They’re probably not going broke, they’re just trying to prevent themselves from going broke. That or they’re incredibly stupid which I doubt.
On a somewhat related tangent, I saw Jody Scheckter is auctioning off his car collection and he's *only* in his 70s. I assume because his kids or grandkids need money, and he's mostly too old to drive them.
These wealthy people don't need the money, a lot of it is just shredding costs. Car collections take time and money to maintain so if you're not using them then selling them nets you cash and lowers your expenses.
not only would they not have factored in his medical treatment, I'm sure they planned on Michael being able to earn more money from things like speaking engagements, endorsements, etc.
the last decade really just hasn't gone the way I'm sure they were hoping
You will 100% get negative responses to this idea. Never mind the multimillionaire status… Even in the US that would guarantee top 3% healthcare. I thought Europe was supposed to have progressive healthcare
My brother got experimental treatment for a brain tumour in Ireland. The surgeons were talking to me about it (I’m also in healthcare) and saying how crazy expensive it would be.
He was the only one in the country to have the treatment and it involved buying machinery.
It's sad, but this the truth. The Schumacher family are probably pouring in millions into his treatment, of course it's not going to be all state-funded like the regular treatments that regular people receive.
The fuck good is free healthcare then? I broke my elbow in January and paid $60. Literally a night out at dinner
A family member had cancer and paid over $1.2 million. I could survive a broken elbow without $1,000. Charging "lost cause" cancer patients millions--through a <30% chance of survival--is heinous. Why would I choose to live in that system vs the US's identical system when EU has undeniably worse health care? If one country were to offer >30% then absolutely. But if EU isn't going to pay the extra cost, then *why* would I go there? Where you take months upon months to see a doctor? Why would I pay any health insurance when someone can be deemed a lost cause because they were diagnosed for the fist time at stage IV cancer? That is the epitome of giving up.
No less, the doctors are paid less in international countries than in the US. What reason do foreign doctors have to operate at their greatest skill when they are being paid 40% less than American doctors? Quite literally the reason why the US has better doctors.
Why would I seek ineffective care before potentially effective experimental care? What is money for if not purchasing food, health, happiness, and safety? Why would I waste $550,000 on ineffective Glaswegian care than $1,200,000 on Johns-Hopkins care?
No one is preventing you from paying extra to get those things if you want. Idea of universal healthcare is to get at least basics for everyone. "You are poor? You still get at least normal cancer care"
Looks like your knowledge about EU is bit limited, it does not work like USA. Every country is independent so level and type of healthcare changes a lot. Just like between USA, Canada and Mexico.
Btw. Being paid more does not guarantee better skill.
He’s German though, ja?
Jk but I can believe you. Still though. I can’t imagine being a multimillionaire. Maybe one of my family members could have extended their life 12 years with dozens of millions. Couldn’t give two shits less about this guy’s finances.
> He’s German though, ja?
He lives in Switzerland in does not have a German health insurance. One of the consequences of tax avoidence by moving into another country is losing the benefits of the country you are running away from. Germans are not per se entitled for healthcare. You need insurance, which is mandatory by law for everyone living in Germany, but not for Germans living in another country.
Still though. One of the most expensive experimental US colon cancer treatments was $1.2 million. *Imagine* what could have been afforded with an additional $40+ million.
Some of y'all don't understand the value of money. Someday.
Edit: Didn't expect a response. Insurance cocksuckers. Like I said in another comment: EU is supposed to have progressive healthcare. That's what you guys try and grill America about all the time. Suddenly a 1%er can't afford care and you people are running to the boot.
> I thought Europe was supposed to have progressive healthcare
I wouldn't say Europe is particular "progressive" more than the US is regressive. But, "progressive" in Europe means, everyone has the right to free or low cost healthcare regardless of income/wealth.
progressive is very much loaded towards the bottom end of the scale. Affordable or free healthcare for everyone, so nobody has to sell their home when they get in a car accident.
But the top end, experimental, or long term, dedicated team, healthcare is still bloody expensive.
It's the difference between being in a care home and being cared for in your own home, and the level of that care. If you're basically funding an ICU in your living room, that's going to cost you and the state won't fund that.
I was stuck in Portugal once (Madeira) and to be honest, healthcare there sucked balls. And it was in ther top private hospital on the island too.
US healthcare is miles better in terms of quality.
I think most Redditors won’t admit this as it goes against their political beliefs.
With many such things, it depends where you are. Also I rather have normal and affordable healthcare than be millions in debt if you get sick once in your life.
As good as US healthcare might be for the rich, it is a scam for everyone else.
If you have a job in the US like most people, your healthcare is covered by your work. I’d say US healthcare is normal and affordable.
> millions in debt
And even if you don’t, you can purchase it on the market place for like ~ $300 a month.
Most insurance plan have an out of pocket life time maximum.
> If you have a job in the US like most people, your healthcare is covered by your work. I’d say US healthcare is normal and affordable.
Imagine: You work at a big box store and get liver cancer. Whats the better place to be? Poland or the USA?
Pancreatic cancer? It’s likely a fast death either way, but I unfortunately know from second hand experience that the palliative care in the US is world class (esp Dana Farber in the US). Cannot recommend them highly enough, it’s compassionate and absolutely world class.
And this was with someone who was in grad school when she got it, never mind a real job. Thankfully she was able to get healthcare without paying a dollar out of pocket though her insurance even when unemployed via MassHealth.
I’d pick American healthcare over European healthcare every time as long as you’re covered by an insurance plan.
> I was stuck in Portugal once (Madeira) and to be honest, healthcare there sucked balls. And it was in ther top private hospital on the island too.
Obviously. The healthcare of a country still is directly connected to the wealth of a country.
> US healthcare is miles better in terms of quality.
But not in accessibility. Polands healthcare might be worse than the US one on rate, but a Polish McDonalds employee gets cancer treatments an American McDonalds employee could never afford.
> I think most Redditors won’t admit this as it goes against their political beliefs.
No sane redditor would argue against the fact that the healthcare for Bill Gates is better in the USA than in Poland. But the redditor would argue that the healthcare in Poland for a poor person is better than for a poor person in the USA.
Maderia is in Portugal, not Poland btw. Portugal is a developed EU country…
> But the redditor would argue that the healthcare in Poland for a poor person is better than for a poor person in the USA.
That’s where I totally disagree. As long as you’re covered by some health insurance (either through work or state/federal health care market plan), the quality of healthcare is miles better in the USA compared to most of Europe, even for the average and poor person.
Portugal aren't exactly the place people are referring to when talking about European healthcare being cheaper/better than the US.
There's literally a meme about how Portugal are similar to the less developed nations of Eastern Europe lmao.
I mean that's not even in mainland Portugal, it's literally an island known for its holiday resorts.
If you were in the mainland, especially in Lisbon or Porto, it would've been much better.
Although of course it wouldn't have been as good as the other countries of Western/Northern Europe.
It absolutely is that’s why it carries such a high premium. I’m not getting my hair transplant in Turkey. F that. I will happily pay a 6k premium. Thought about it since I was 15
I don't know, Turkey is pretty good for that kind of stuff, it's literally known as the go-to place for hair transplants.
The caveat is that you have to do your research and find a good doctor and clinic. If you do, it's *much much* cheaper than comparable places in the US/Europe.
Is there no insurance money provided or medical care covered by team or by f1? I can understand if they want their own medical care or are doing experimental treatment but would be surprising if one of the most dangerous sports in the world doesn’t take care of their own
I’m a younger fan and completely forgot that was how he got hurt - you are correct that they wouldn’t have any responsibility. Stupid comment in hindsight, but I’ll keep it up in case anyone can learn from my stupidity lol
I guess at a certain point its like how much stuff do you need to hold on to. Maybe you retain ownership and lease it to museums? IDK. If it were me personally id keep a small collection of the most valuable items and get rid of the rest. When my father passes i dont need a house worth of his stuff. Maybe its the scandi side of me.
That could be true. They must have an insane amount of stuff, watches, clothes, racing gear, cars etc that he was gifted by sponsors or whoever else. They don’t need to keep everything.
Well I’d imagine they want to see the belongings go to someone who wants them while he is alive.. like when he passes, there will be vultures out to get everything, it will hurt the name and I can understand them not wanting to deal with it all after the fact.
Timing it with the 30th anniversary of his first WDC is smart. Peak value given that his fans are still alive and probably very wealthy. I wouldn't be surprised if it didn't sell for well over $2.2M USD. Better to sell small lots to avoid flooding the market.
For the 1000x time, this is not how taxes work, have ever worked, or will ever work.
You are (presumably) an adult, read up on this stuff. It's frankly embarrassing.
Sorry for the annoyed comment, but this topic really grinds my gears. So many people online don't understand that you will never earn a profit with a tax deduction.
Case in point: the "Coyote vs. Acme" controversy some weeks ago. An incredible amount of people were 100% convinced that Warner didn't release the movie because they earn more from the tax write-off than from ticket sales. Which is just... no, things don't work like this.
The watches total are $2.2 million. A single Richard Mille can range from $1-5+ million (I believe McLaren is sponsored by them, so you can see Norris wearing one). A couple Audemars Piguet models and one Patek Phillipe is literal chump change (to a multimillionaire). Like max $300k
So what? Its a myth that "Super rich people dont have access to the money, because its in assets." Its called [buy, borrow, die](https://smartasset.com/investing/buy-borrow-die-how-the-rich-avoid-taxes).
Feels strange when he's still alive, regardless his medical status. Even if I had all cash I could dream of, I wouldn't enjoy owning custom Schumi gear from him still alive and not obviously consenting.
But Gilmour spoke up about it and all. We don't know the state Michael is in to consent. Of course anyone can begin auctioning off stuff they own on their own initiative, but I think there are unknown but relevant factors here that makes me uncomfortable.
These comments are NOT passing the vibe check. Y’all don’t know what that family is dealing with. Let them do what they want to do. They’ve been through enough.
I understand where you're coming from but your idea that the public should avoid talking about a topic such as this on an internet forum is just ridiculous.
Do you think Mick is reading these comments or something?
People really underestimate how much at-home private healthcare at this service level costs.
None of us know the exact details but full monty reha in Switzerland can be $20-25k per day if not more. This has been going on for more than 10 years, and he is getting the best treatment out there.
The rest of the family is also prob just burnish cash so yeah, this isn’t really a shocker unfortunately.
Suppose you’re right, then $25k per day for 10 years is $91M. At the height of his career, Michael earned $100M per year. They are not selling 8 watches to pay for medical bills.
Again the point is that Schumis care bill is just one piece of the puzzle. We don’t know their exact finances but afaik non really work but live a luxurious lifestyle in one of the most expensive counties in the world. And this is just the last 10 years, what about having wealth for the next 10-, 20-, 30 years etc. money burns so quickly.
There are plenty of cases of prolific celebrities having triple digit million wealth to file for bankruptcy within a decade when they stop earning. These guys seem a bit more sensible with trying to bridge some of these expenses by selling off assets etc
You’re basing that figure off forumalpedia which seems, dogshit. I don’t see how he ever made that much in a year. Highest F1 salary was $38m/yr so that’s another $60+ in endorsements?
Never said they were poor but this isn’t the first time they’ve sold off assets. In fact, this is chump change after the jet and a property a few years ago. Keep googling bro
Am sure there's many sons who would like to wear their dad's watch, MIck mustn't be that kind of guy.
I don't get it, so much history there for the Schumacher family and while we don't know MIchael's condition, this is so weird.
Why is it weird? Athletes, especially F1 drivers, are showered with watches since they are brand ambassadors or just good ads. Mick could not care about random watches, might have already picked his favourites or the ones that had significance to his father, or just does not want any of them because he does not fetishize watches his father wore for whatever reason. Nothing about this is weird.
What about the other seven? And yes, he probably got those from sponsors, that's what I'm saying. And who are we to decide how Mick and the family device what to keep and what not to keep? *That* is weird.
How do you know he is not wearing any his fathers watches? Michael could have dozens of watches and they might be only selling handful of them. We don't know the details, so stop making assumptions.
Be a pretty boring subreddit if we weren't allowed to make assumptions?
There'd be no shortage of watch nerds being F1 fans who'd know Michael's watch/es and comment on Mick wearing it.
He might be about to die and/or they might need the money. Of course we hope not, but no guarantees either of those aren't happening.
They aren't selling all of his watches. Just these 8. Dude was a multiple world champion in a series sponsored by Rolex. Probably has a watch for every day of the year.
At this point would it not be an emotional and let’s be honest, financial kindness for him to pass on?
I’d be horrified if my family were selling off assets to keep me just barely alive.
There comes a time in almost everyone's life when you stop accumulating things and start letting them go. We recently witnessed Jody Scheckter's impressive F1 car collection being sold at auction this past weekend in Monaco, and Nigel Mansell also auctioned off some of his beloved cars some time ago. This post discusses Michael's watches, and all of this is just part of a process, whether necessary or not. It's not easy to let go... God bless Michael Schumacher and his family; only they know what they are going through
Unfortunately that seems likely. Still remember watching Mick in the documentary saying he just wished he could speak to his dad about racing. Was like a punch in the gut.
Growing up, I distinctly remember seeing the Omega Speedmaster ads sponsored by Michael on Time magazine:
https://www.italianwatchspotter.com/wp-content/uploads/2023/12/11zon_s-l1600-2-683x1024-1.webp
https://i.ebayimg.com/images/g/2lcAAOSwVcFh5pBL/s-l1600.jpg
As an F1 fan and Omega fan, I looked at those ads in admiration, the way a kid fantasizes about becoming something or buying something when he grows up.
This news really feels like the end of an era for me.
Stop. Comments regarding the circumstances leading to this are distasteful to put it mildly.
I never liked the guy, he made a lot of races boring and even some devious driving tricks, but he is one of the f1 greats, so let's have some respect for him and his family.
Watches are far from the worst purchase you can make if you are wealthy. Hard to get or limited edition luxury watches with a paper trail attached to a legend like Schumacher means these watches will likely increase in value. With inflation rates nowadays, some watches are a better investment than high yield savings, and you can occasionally wear it.
I really don't get why they sell watches for what is to them chump change. I mean... a few hundred thousand dollars? It's not like this is a huge property that's losing them money on maintaining it. I'd get selling a bit of the car and property collection, it would be a looot of money to reinvest into something that makes them money, but I don't get the point of selling a Piquet for 500k or so.
What's the point of having it if they've dozens of watches that are worth more either moneywise or emotionally?
For all we know Michael have 37 other watches that are worth more, or that he actually wore.
These might have been sitting in a box since he got them.
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>The sale, organized by Schumacher’s family, features a watch that was given to the German racing superstar by former Ferrari CEO 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 honor his seven World Championship victories. The presale estimate suggested it could bring as much as 2 million Swiss francs (about $2.2 million), Christie’s said. I can't believe they're selling that. I know it's obviously worth a lot of money but you'd imagine it would mean a lot to them.
On the one hand it really sounds like an iconic watch with a lot of emotional value but on the other hand I would probably never wear it so if it's just on display somewhere I get why the family would rather sell it. (I'm sorry to say I also don't really 'like' it, but I don't know if that's even the point for a 2 million dollar watch.)
It’s one of one and was gifted to Schumacher by Jean Todt who is a friend of the family. Just thought it would be the kind of thing they’d hold on to.
Michaels medical care is not free
Exactly and a sentimental watch is nothing compared to his medical needs
Seems that it would need to be an incredibly mismanaged fortune for them to be in need of money
Maybe but also, you can rack up millions in experimental treatments pretty easily in a decade.
Not to mention funding Mick’s career for as long as they needed to
> you can rack up millions in experimental treatments pretty easily in a decade. Schumacher was one of the first sports billionaires and based on him moving to Switzerland he is clearly financially literate enough to just invest his money. There is no way his medical costs even put a dent into the growth of his net worth just from passive investments (and i think they still sell his likeness to DVAG?).
It’s insane how much money the schumachers had, expenses like that shouldn’t make a dent
They are going to be broke by the next generation. Only god knows what's the real purpose of selling michaels things.... (They already sold some cars of his too)
Quickest way to a million from running your own ranch is starting with 10.
His medical treatment probably costs millions per year
If invested well that really isn’t a concern. I don’t want to sound harsh but if they’re throwing away millions on experimental treatments because of a traumatic brain injury maybe they should just accept it and have the best care available.
Because keeping a 2 million dollar watch with sentimental value to Michael is more important? Sheesh. This family will be absolutely swimming in F1 memorabilia, how much do you think they need? The watch was a gift, does it even have much history attached to it? Not worth close to 2 mill to them for the memories, when they will have so many things that are as meaningful and significantly less valuable.
Nope, in suisse you just pay the insurance and that’s it
Experimental treatments would likely not be covered though
The best insurances are and I am guessing he had them
Rough estimates about 120,000 euros a week
I mean sure but he was worth more than 500 million dollars at a point in his career.
I can’t reply to everyone who’s replied to my comment saying the same sort of thing. But Michael’s treatment is fairly hush hush but it’s been estimated his care is costing approx 120,000 euros a week. Deep pockets are only so deep. He’s been in care like this for over 10 years. The first years would have been considerably more expensive.
At his level of wealth you’d think he has pockets deep as Mariana Trench, especially he is not known for having lavish and outrageous lifestyle
120,000 a week care soon eats through money
The Schumachers are worth well over half a billion euros, I'm certain it's enough to cover for his medical bills, we are not in America after all.
Schumacher is cared for in Texas.
Pretty sure that's not true. Last I heard he was in his home in Switzerland and I highly doubt they moved him from there to Texas
You mean "Michaels family lifestyle is not free" right?
It's just a watch and it doesn't even sound like it was a particularly meaningful gift.
Its a 1:1 made specifically for him.....how is it not meaningful?
Because its just another trophy at the end of the day. A cool and unique sort of trophy but still just another trinket celebrating Michael and his success as a race car drivers
You don't collect watches, which is fine, know about watch collections, which is also fine, or understand the difference that this is a commemoration of his life achievements within an organization. Saying its just another trophy is crazy.
At the end of the day - it is. You can call it commemoration if you'd like but it is just a trophy and a trinket and I'm certain somebody with as many trophies as Michael has plenty of those lying around, probably many with far more sentimental value. Don't try to belittle me, you know nothing of what I collect or not. Why should this particular one be of more value than his 7x WDC trophies or 90+ win trophies or 155+ podium trophies? They serve the purpose just as well if not better - a room filled with his trophies signify his achievements far better than a watch.
All I got from this is you know nothing about watch collecting.
It seems like it was just a christmas gift he got in 2004. Just because something is expensive, it doesn't mean it has a lot of sentimental value. I could see it being more meaningful if it was for a certain occassion but I doubt an expensive watch meant much to Michael by 2004 - it was a really nice gift but it was hardly going to solidify the already strong relationship between the two.
Yeah a 1:1 time piece that is a commemoration of all your achievements as a professional athlete for that team is really just a christmas gift. I guess when people get a retirement rolex its just for funsies and means nothing.
You realise that Michael was working with Ferrari and Todt for several more years after this right?
> I guess when people get a retirement rolex its just for funsies and means nothing. Hmmm...wonder why I said this.
Also comparing the average person getting a retirement watch with Schumacher is insane - the dud probably has an entire room of them. I feel like I addressed that point? This wasn't a retirement gift, just a christmas gift from 2004.
[удалено]
I am pretty sure they dont sell it because of financial hardship. Michael accumulated tons of such things. The [Michael Schumacher priavt collection](https://www.privatecollection.ms/en/site/index) includes stuff like 12 F-1 cars and offers free enty to everyone... This thing alone (Building, the collection itself, ...) could make more money than those watches every year just by charging an entry fee. The reason they sell those watches is most likely nobody wears them and they are incredible fugly. Just look at those [abominations](https://www.brisant.de/stars/michael-schumacher-uhren-106-resimage_v-variantSmall16x9_w-960.jpg?version=2499). The fact that some of them dont even show any signs of wear tells you everything you need to know. (That Michael put them into a drawer and never cared about them again.) For collectors those are not "The watch of Michael Schumacher" but "A watch once owned by Michael Schumacher". That difference can decide of it makes 100k or 2 million in auction.
Yes, they are collectible timepieces. However, there are a indicators that the family could be in need of cash - we don't know but it is a realistic possibility.
They need the money to keep him alive i guess.
I read somewhere Corinna has been selling off a lot of their belongings and maybe even their ranch/property to make money since Michael’s healthcare is really really expensive. Might be wrong though.
I can't possibly believe it's that expensive, he was easily a nine-figure millionaire before the accident. The interest on that money could pay for medical care. In Forbes, Sports Illustrated and other celebrity sports star lists, Michael often made as much or more than Michael Jordan between salary and endorsements. In the 90s and 2000s, Michael Schumacher was usually listed as the top paid international sports star, making much more money than soccer players of the time. And his endorsements were worldwide, unlike most US sports stars.
Yes, the interest could, but they’re not earning interest on it. The properties (unless investment properties) are likely costing them money, not earning it. It’s not so much that they’re selling to pay for the medical expenses, but rather selling so that they can liquidate their wealth and invest it so that they can use the returns to cover their expenses. They likely didn’t anticipate how expensive their retirement would be (given that they wouldn’t have factored in his medical condition), and probably didn’t invest enough to cover their lifestyle, so now they’re downgrading their lifestyle and increasing their investments. They’re probably not going broke, they’re just trying to prevent themselves from going broke. That or they’re incredibly stupid which I doubt.
Or they’re selling them just to sell them. Read about another celebrity selling some one of one watches just last week.
On a somewhat related tangent, I saw Jody Scheckter is auctioning off his car collection and he's *only* in his 70s. I assume because his kids or grandkids need money, and he's mostly too old to drive them.
These wealthy people don't need the money, a lot of it is just shredding costs. Car collections take time and money to maintain so if you're not using them then selling them nets you cash and lowers your expenses.
and one can always buy them back
You're referring to Stallone..?
not only would they not have factored in his medical treatment, I'm sure they planned on Michael being able to earn more money from things like speaking engagements, endorsements, etc. the last decade really just hasn't gone the way I'm sure they were hoping
You will 100% get negative responses to this idea. Never mind the multimillionaire status… Even in the US that would guarantee top 3% healthcare. I thought Europe was supposed to have progressive healthcare
Basic healthcare is cheap in Europe. Not experimental treatments for patients that are otherwise considered almost as "lost cause".
My brother got experimental treatment for a brain tumour in Ireland. The surgeons were talking to me about it (I’m also in healthcare) and saying how crazy expensive it would be. He was the only one in the country to have the treatment and it involved buying machinery.
It's sad, but this the truth. The Schumacher family are probably pouring in millions into his treatment, of course it's not going to be all state-funded like the regular treatments that regular people receive.
The fuck good is free healthcare then? I broke my elbow in January and paid $60. Literally a night out at dinner A family member had cancer and paid over $1.2 million. I could survive a broken elbow without $1,000. Charging "lost cause" cancer patients millions--through a <30% chance of survival--is heinous. Why would I choose to live in that system vs the US's identical system when EU has undeniably worse health care? If one country were to offer >30% then absolutely. But if EU isn't going to pay the extra cost, then *why* would I go there? Where you take months upon months to see a doctor? Why would I pay any health insurance when someone can be deemed a lost cause because they were diagnosed for the fist time at stage IV cancer? That is the epitome of giving up. No less, the doctors are paid less in international countries than in the US. What reason do foreign doctors have to operate at their greatest skill when they are being paid 40% less than American doctors? Quite literally the reason why the US has better doctors. Why would I seek ineffective care before potentially effective experimental care? What is money for if not purchasing food, health, happiness, and safety? Why would I waste $550,000 on ineffective Glaswegian care than $1,200,000 on Johns-Hopkins care?
No one is preventing you from paying extra to get those things if you want. Idea of universal healthcare is to get at least basics for everyone. "You are poor? You still get at least normal cancer care" Looks like your knowledge about EU is bit limited, it does not work like USA. Every country is independent so level and type of healthcare changes a lot. Just like between USA, Canada and Mexico. Btw. Being paid more does not guarantee better skill.
AFAIK Switzerland has some of the best in the world, and it’s means-tested. Essentially the richer you are, the less discount you get.
He’s German though, ja? Jk but I can believe you. Still though. I can’t imagine being a multimillionaire. Maybe one of my family members could have extended their life 12 years with dozens of millions. Couldn’t give two shits less about this guy’s finances.
> He’s German though, ja? He lives in Switzerland in does not have a German health insurance. One of the consequences of tax avoidence by moving into another country is losing the benefits of the country you are running away from. Germans are not per se entitled for healthcare. You need insurance, which is mandatory by law for everyone living in Germany, but not for Germans living in another country.
Still though. One of the most expensive experimental US colon cancer treatments was $1.2 million. *Imagine* what could have been afforded with an additional $40+ million. Some of y'all don't understand the value of money. Someday. Edit: Didn't expect a response. Insurance cocksuckers. Like I said in another comment: EU is supposed to have progressive healthcare. That's what you guys try and grill America about all the time. Suddenly a 1%er can't afford care and you people are running to the boot.
> I thought Europe was supposed to have progressive healthcare I wouldn't say Europe is particular "progressive" more than the US is regressive. But, "progressive" in Europe means, everyone has the right to free or low cost healthcare regardless of income/wealth. progressive is very much loaded towards the bottom end of the scale. Affordable or free healthcare for everyone, so nobody has to sell their home when they get in a car accident. But the top end, experimental, or long term, dedicated team, healthcare is still bloody expensive.
It's the difference between being in a care home and being cared for in your own home, and the level of that care. If you're basically funding an ICU in your living room, that's going to cost you and the state won't fund that.
I was stuck in Portugal once (Madeira) and to be honest, healthcare there sucked balls. And it was in ther top private hospital on the island too. US healthcare is miles better in terms of quality. I think most Redditors won’t admit this as it goes against their political beliefs.
With many such things, it depends where you are. Also I rather have normal and affordable healthcare than be millions in debt if you get sick once in your life. As good as US healthcare might be for the rich, it is a scam for everyone else.
If you have a job in the US like most people, your healthcare is covered by your work. I’d say US healthcare is normal and affordable. > millions in debt And even if you don’t, you can purchase it on the market place for like ~ $300 a month. Most insurance plan have an out of pocket life time maximum.
> If you have a job in the US like most people, your healthcare is covered by your work. I’d say US healthcare is normal and affordable. Imagine: You work at a big box store and get liver cancer. Whats the better place to be? Poland or the USA?
Pancreatic cancer? It’s likely a fast death either way, but I unfortunately know from second hand experience that the palliative care in the US is world class (esp Dana Farber in the US). Cannot recommend them highly enough, it’s compassionate and absolutely world class. And this was with someone who was in grad school when she got it, never mind a real job. Thankfully she was able to get healthcare without paying a dollar out of pocket though her insurance even when unemployed via MassHealth. I’d pick American healthcare over European healthcare every time as long as you’re covered by an insurance plan.
> I was stuck in Portugal once (Madeira) and to be honest, healthcare there sucked balls. And it was in ther top private hospital on the island too. Obviously. The healthcare of a country still is directly connected to the wealth of a country. > US healthcare is miles better in terms of quality. But not in accessibility. Polands healthcare might be worse than the US one on rate, but a Polish McDonalds employee gets cancer treatments an American McDonalds employee could never afford. > I think most Redditors won’t admit this as it goes against their political beliefs. No sane redditor would argue against the fact that the healthcare for Bill Gates is better in the USA than in Poland. But the redditor would argue that the healthcare in Poland for a poor person is better than for a poor person in the USA.
Maderia is in Portugal, not Poland btw. Portugal is a developed EU country… > But the redditor would argue that the healthcare in Poland for a poor person is better than for a poor person in the USA. That’s where I totally disagree. As long as you’re covered by some health insurance (either through work or state/federal health care market plan), the quality of healthcare is miles better in the USA compared to most of Europe, even for the average and poor person.
Portugal aren't exactly the place people are referring to when talking about European healthcare being cheaper/better than the US. There's literally a meme about how Portugal are similar to the less developed nations of Eastern Europe lmao.
Fair enough lol… but it was truly awful in Madeira
I mean that's not even in mainland Portugal, it's literally an island known for its holiday resorts. If you were in the mainland, especially in Lisbon or Porto, it would've been much better. Although of course it wouldn't have been as good as the other countries of Western/Northern Europe.
It absolutely is that’s why it carries such a high premium. I’m not getting my hair transplant in Turkey. F that. I will happily pay a 6k premium. Thought about it since I was 15
I don't know, Turkey is pretty good for that kind of stuff, it's literally known as the go-to place for hair transplants. The caveat is that you have to do your research and find a good doctor and clinic. If you do, it's *much much* cheaper than comparable places in the US/Europe.
WTF is "progressive healthcare"?
healthcare where you don't have to mortgage your home when you fall down the stairs and break your leg
How is that "progressive"?
I was being sarcastic towards the (presumably american) poster who brought up Europe's progressive healthcare :D
Is there no insurance money provided or medical care covered by team or by f1? I can understand if they want their own medical care or are doing experimental treatment but would be surprising if one of the most dangerous sports in the world doesn’t take care of their own
He was retired and injured while skiing. What responsibility would any F1 team have to him?
I’m a younger fan and completely forgot that was how he got hurt - you are correct that they wouldn’t have any responsibility. Stupid comment in hindsight, but I’ll keep it up in case anyone can learn from my stupidity lol
Its keep those properties etc that cost money.
I guess at a certain point its like how much stuff do you need to hold on to. Maybe you retain ownership and lease it to museums? IDK. If it were me personally id keep a small collection of the most valuable items and get rid of the rest. When my father passes i dont need a house worth of his stuff. Maybe its the scandi side of me.
That could be true. They must have an insane amount of stuff, watches, clothes, racing gear, cars etc that he was gifted by sponsors or whoever else. They don’t need to keep everything.
Yea you could literally fill a museum with it all. Maybe thats the play.
I’ve got some bad news for you…
I’d sell the shit out of it.
Well I’d imagine they want to see the belongings go to someone who wants them while he is alive.. like when he passes, there will be vultures out to get everything, it will hurt the name and I can understand them not wanting to deal with it all after the fact.
Do you have any idea how many he has? How many he was simply given and never wore outside a magazine shot?
Timing it with the 30th anniversary of his first WDC is smart. Peak value given that his fans are still alive and probably very wealthy. I wouldn't be surprised if it didn't sell for well over $2.2M USD. Better to sell small lots to avoid flooding the market.
i'm pretty new to f1 so i had to check whether he was dead or not for his family to sell something that valuable
I hope it doesn’t mean the inevitable is near
The inevitable has already happened pretty much
No it doesn't, they have more money than they could ever need, sometimes things get sold because there is no use for it.
Yeah, but why wouldn’t you need 8 watches?
One on each arm, one on each leg, and a necklace of the other 4 around the neck?
This guy watches.
8 time zones
Charity donation for tax purposes
For the 1000x time, this is not how taxes work, have ever worked, or will ever work. You are (presumably) an adult, read up on this stuff. It's frankly embarrassing.
Yep in the real world you buy stuff then sell it to youre mum for a fraction of the price.
Sheeesh relax lol it's just a comment. I'll be sure to read about how tax deductions work. Thank you.
Sorry for the annoyed comment, but this topic really grinds my gears. So many people online don't understand that you will never earn a profit with a tax deduction. Case in point: the "Coyote vs. Acme" controversy some weeks ago. An incredible amount of people were 100% convinced that Warner didn't release the movie because they earn more from the tax write-off than from ticket sales. Which is just... no, things don't work like this.
How are people still saying this. Jesus Christ.
Too much time spent on Reddit
He doesn’t even need 1 watch; I think he can only count to 10 now. 😬
dude. this shit isnt funny. its just really fucked.
His medical bills are not cheap
At this point it’s likely less medical and more care.
The dude is worth 500,000,000 €.
Which most if it is in cars, watches, properties.
The watches total are $2.2 million. A single Richard Mille can range from $1-5+ million (I believe McLaren is sponsored by them, so you can see Norris wearing one). A couple Audemars Piguet models and one Patek Phillipe is literal chump change (to a multimillionaire). Like max $300k
Richard Milles are not worth anywhere near 1-5mil??
Some are. Most are in the 100k-700k though. You can get the RM005 for like 40k.
So what? Its a myth that "Super rich people dont have access to the money, because its in assets." Its called [buy, borrow, die](https://smartasset.com/investing/buy-borrow-die-how-the-rich-avoid-taxes).
…..which is not all liquid asset
But they get to borrow from the bank at basically anytime.
Debt death an divorce are the usual reasons for selling these kinds of assets
I miss him ,what a great driver and all round decent man
Dude was my F1 hero growing up. I always hope we will hear him speak again.
The things I would do for that Royal Oak
Same. No way it goes for anywhere close to 200k.
Hell nah. Regular ass 'specials' get to that number. A Royal Oak owned by THE Michael?! No chance...
Feels strange when he's still alive, regardless his medical status. Even if I had all cash I could dream of, I wouldn't enjoy owning custom Schumi gear from him still alive and not obviously consenting.
Is he though?
Yes. Is it a life worth living? Prolly not but who knows.
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But Gilmour spoke up about it and all. We don't know the state Michael is in to consent. Of course anyone can begin auctioning off stuff they own on their own initiative, but I think there are unknown but relevant factors here that makes me uncomfortable.
These comments are NOT passing the vibe check. Y’all don’t know what that family is dealing with. Let them do what they want to do. They’ve been through enough.
I understand where you're coming from but your idea that the public should avoid talking about a topic such as this on an internet forum is just ridiculous. Do you think Mick is reading these comments or something?
Why would it matter whether a family member reads it? Are you guided by that more than your own desire to not be weird?
Imo they should sell them to at least a museum or someone that displays their collection
Don't think they're planning on stopping a museum from buying them
People really underestimate how much at-home private healthcare at this service level costs. None of us know the exact details but full monty reha in Switzerland can be $20-25k per day if not more. This has been going on for more than 10 years, and he is getting the best treatment out there. The rest of the family is also prob just burnish cash so yeah, this isn’t really a shocker unfortunately.
Suppose you’re right, then $25k per day for 10 years is $91M. At the height of his career, Michael earned $100M per year. They are not selling 8 watches to pay for medical bills.
Again the point is that Schumis care bill is just one piece of the puzzle. We don’t know their exact finances but afaik non really work but live a luxurious lifestyle in one of the most expensive counties in the world. And this is just the last 10 years, what about having wealth for the next 10-, 20-, 30 years etc. money burns so quickly. There are plenty of cases of prolific celebrities having triple digit million wealth to file for bankruptcy within a decade when they stop earning. These guys seem a bit more sensible with trying to bridge some of these expenses by selling off assets etc
And taxes, and they were still spending money while he was driving as well as funding their son career.
You’re basing that figure off forumalpedia which seems, dogshit. I don’t see how he ever made that much in a year. Highest F1 salary was $38m/yr so that’s another $60+ in endorsements?
Yes [https://www.sportsworldnews.com/amp/articles/75706/20240101/michael-schumacher-net-worth.htm](https://www.sportsworldnews.com/amp/articles/75706/20240101/michael-schumacher-net-worth.htm)
“Between $80-100m” nowhere’s has it been confirmed he definitely made 100m in a year. All of this is speculation
Do you have any articles to back up claims that they’re poor?
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Never said they were poor but this isn’t the first time they’ve sold off assets. In fact, this is chump change after the jet and a property a few years ago. Keep googling bro
wish they would show the watches ffs
Why would I want a watch that’s .300 second faster?
After waiting long enough you are so far ahead in time that you know the next day lottery numbers. /s
if your watch is faster - you're slower
Keep fighting, Michael
Damn I was hoping we shared a watch in common…
Am sure there's many sons who would like to wear their dad's watch, MIck mustn't be that kind of guy. I don't get it, so much history there for the Schumacher family and while we don't know MIchael's condition, this is so weird.
Why is it weird? Athletes, especially F1 drivers, are showered with watches since they are brand ambassadors or just good ads. Mick could not care about random watches, might have already picked his favourites or the ones that had significance to his father, or just does not want any of them because he does not fetishize watches his father wore for whatever reason. Nothing about this is weird.
I think this watch would mean more than something he got free from a sponsor but who knows.
This watch is the bait to lure in more buyers for the random sponsored watches.
What about the other seven? And yes, he probably got those from sponsors, that's what I'm saying. And who are we to decide how Mick and the family device what to keep and what not to keep? *That* is weird.
How do you know he is not wearing any his fathers watches? Michael could have dozens of watches and they might be only selling handful of them. We don't know the details, so stop making assumptions.
He definitely has dozens, I’d wager every driver does haha
Be a pretty boring subreddit if we weren't allowed to make assumptions? There'd be no shortage of watch nerds being F1 fans who'd know Michael's watch/es and comment on Mick wearing it. He might be about to die and/or they might need the money. Of course we hope not, but no guarantees either of those aren't happening.
They aren't selling all of his watches. Just these 8. Dude was a multiple world champion in a series sponsored by Rolex. Probably has a watch for every day of the year.
At this point would it not be an emotional and let’s be honest, financial kindness for him to pass on? I’d be horrified if my family were selling off assets to keep me just barely alive.
There comes a time in almost everyone's life when you stop accumulating things and start letting them go. We recently witnessed Jody Scheckter's impressive F1 car collection being sold at auction this past weekend in Monaco, and Nigel Mansell also auctioned off some of his beloved cars some time ago. This post discusses Michael's watches, and all of this is just part of a process, whether necessary or not. It's not easy to let go... God bless Michael Schumacher and his family; only they know what they are going through
have there been any updates on his condition?
The next update any of us will ever hear about is that he’s been dead and buried.
Safe to assume he’s barely more than a vegetable at this point 😔
Unfortunately that seems likely. Still remember watching Mick in the documentary saying he just wished he could speak to his dad about racing. Was like a punch in the gut.
Growing up, I distinctly remember seeing the Omega Speedmaster ads sponsored by Michael on Time magazine: https://www.italianwatchspotter.com/wp-content/uploads/2023/12/11zon_s-l1600-2-683x1024-1.webp https://i.ebayimg.com/images/g/2lcAAOSwVcFh5pBL/s-l1600.jpg As an F1 fan and Omega fan, I looked at those ads in admiration, the way a kid fantasizes about becoming something or buying something when he grows up. This news really feels like the end of an era for me.
Sounds like the estate is running out of money. Can’t imagine 24/7 care for Michael is inexpensive.
I wouldn't buy Michael's watches. They're probably running too fast.
Met him at spa 20 years ago. Genuine guy.
Stop. Comments regarding the circumstances leading to this are distasteful to put it mildly. I never liked the guy, he made a lot of races boring and even some devious driving tricks, but he is one of the f1 greats, so let's have some respect for him and his family.
"Have some respect" But you still felt the need to shoehorn in that you didn't like him.
Better watch out
I wish I was rich enough to bother even attending an auction of this type. But then again, I'd hope i wouldn't be wasting money on old watches.
Watches are far from the worst purchase you can make if you are wealthy. Hard to get or limited edition luxury watches with a paper trail attached to a legend like Schumacher means these watches will likely increase in value. With inflation rates nowadays, some watches are a better investment than high yield savings, and you can occasionally wear it.
Meh, most everyone if rich would have something really stupid they spent way too much money on.
I really don't get why they sell watches for what is to them chump change. I mean... a few hundred thousand dollars? It's not like this is a huge property that's losing them money on maintaining it. I'd get selling a bit of the car and property collection, it would be a looot of money to reinvest into something that makes them money, but I don't get the point of selling a Piquet for 500k or so.
What's the point of having it if they've dozens of watches that are worth more either moneywise or emotionally? For all we know Michael have 37 other watches that are worth more, or that he actually wore. These might have been sitting in a box since he got them.
I might get a couple
Well he's not using them is he?
has he ok'd this?