Audemars Piguet Just Exposed The Greatest Watch Scandal In History. 

Sorry for the awkward angle everyone! We're fixing it over the next few videos and sprucing things up a bit. I can't see the monitor from where I'm sitting so it was hard to adjust -- but, we're getting there!

Somehow this setup gives Christian's mustache more creep vibes

There is one thing that most people seem to miss: It's not even about the money that might end up in their own pockets. If the people running the charity auction are involved in the medical company receiving the money, there is NO WAY the charity would decide to donate to another medical company if the development of their own treatment is not successful, or if another company's treatment seems more promising. This is the conflict of interest to the detriment of medical development that really irks me.

People have to understand the concept of conflict of interest. It isnt necessarily fraud but you cannot put yourself in a position where there could be a semblance of impropriety. Yes, you need proof for fraud but being in a position of conflict of interest is obvious, especially in this case. If i were an institution that values ethical standards, I would pull out as soon as I see a COI, especially one that was clearly undisclosed.

Ouuu we are going full podcast! I love it!

New podcast setup, I approve. Once you get the mic setup dialed in and processing sorted out, it’ll sound even better. Look forward to hearing the progress.

Very simple, if a charity is not transparent from the get go, where the funds go, who manages it or benefits, then it is to much off a gray area. Simple. Be Transparent and let the cos decide whether they want to participate.

So, "Only Fans" has more integrity than "Only Watch".

F.P. Journe may well be in on it, that is why he came out so strongly (just a question not an accusation)? But WHAT is the thing that Nico Leoonard touched on about F.P. Journe, something he said at a dinner with high end customers that resulted in some saying they wanted nothing more to do with his watches, I want to know what this thing is? If charity guy was open from the start and said look 10% is going to admin and salary and maybe a foundation and the rest is going to research that would be okay, why can't he make some money whilst doing good, but it seems they may have been greedy or too far down to be open now.

Unsolicited opinion here; I like how you guys are switching up the set. Variety is nice. I don't see the appeal of having this specific type of setup unless it's the most efficient way of creating content. I often question - whether it is a podcast, radio show, interview show, or talk show (like yours) why they all look like this and do they have to look like this? Could there be a different way of doing it? Not sure if it's required from a functional perspective and if it's the most efficient way of creating content. To me, the microphones and their boom arms are in the way. Even if they weren't obscuring your face, they're distracting and uneasy to see. I'd imagine it has to be so close to your face for the best quality. But your brand is also your face in this case. On an audio podcast or radio show, you wouldn't see any of this. I never knew what stern looked like for the majority of my life, and don't really care even now knowing what he looks like. Part of this channel's appeal is the two of you, your passion and intrigue for watches and the ornate, your relationship with one another and you're personalities. Not necessarily the watch content. This looks like a hotel lobby. Your old set was maybe dated and too rustic. idk, gone with the times, but I feel like you guys are funky wallpaper, an organized mess, Persian rugs, pictures from Christians itay trips, wine, and rolly from time to time.

Good show, when I was a member of a major watch collectors organization, in the 1980s, at their convention held in my city every year, there would be sellers on the floor selling fakes, major dealers selling franken watches, dealers selling stolen watches. Watching RU-vid and these watch programs I see things haven’t changed.

Get the mic stands out of the middle of the shot. Move them off camera with just enough in view to work. Major distraction.

Love the set up!! Sm7b's always have a very soothing sound.

It’s the stach…pre-stach no one thought you did the nose candy then. Pre-stach Club

The central problem is that the ‘charity’ is not set up in a country with strict charity laws where compliance with aims, purpose, funding, budgets, expenditure and other governance, as well as the appointment of trustees, is set out BEFORE charitable status is even conferred, and where annual auditing and reporting must be undertaken. That may not in itself prevent fraud altogether, but should hopefully pick it up, and importantly provides transparency, rather than the opaqueness of Monegasque operations. Then again some would argue that the whole luxury goods space is ‘fraudulent’, but that’s a whole other topic.

Yeah this is pretty common tbh, donating money is a huge tax loop hole to just reroute capital for “research” (via a charity) because (1) its tax efficient and (2) if these companies have a marketable product odds are the share price will increase on the news and the owners will heavily benefit

AET looks cool! I've been following them for a long time and was pleasantly surprised you guys mentioned it!😃

Christian, where in the world do you get your fits my man? 🙏🏼⁉️

In corporate , it’s not okay, there is a clear conflict of interest and if this is not managed, it leads to you know what . Hence this company /business should be avoided at all cost . If the allegation is true, everyone who watches only watch could be a contributor to predicate crimes committed

Like the new set up. Interested to see how it develops. Perhaps move closer together and get a tighter shot of your faces as they are a little further away than before to read the expressions.

you lost me at monaco. that whole setup of the entire country is crooked.

Love the purple orange stripe shirt. The material seems really nice. If this is a distraught look I'm all for it.

Love the innovative AET modifications but hadn't heard of them before, and for once, these customizations are, as you guys said, fun, without being cheesy - we need more of this in the watch world

So you guys have an issue with restored watch from non original parts(parts you can’t get anymore), 17:32 but not with the AET watches, which clearly are breaking so many copyright laws. It is surprising, that Rolex has not done a thing about it. I mean, I like them too and thing it is cool and very individual

AP pulling out of "Only Watch" is similar to the situation when Swatch Group was pulling out of "Basel World"...the end of the show could be near!

New studio? Who dis? Love the new sound setup.

Hey guys, it's time for some Christmas vibes in studio, sweaters, lights and hot drinks.

give credit where credit is due to Perezcope

This is not a Watch scandal. This is a charity scandal. The greatest Watch scandal in history is HUBLOT.

Hey are the watches sold on T&H professionally serviced? Thanks

I want an AP even more now.

Not a fan of the new setup so far, i preferred the more intimate camera closeup with no visible mic… lets see when its done.

Who supported them in writing that statement? That is almost admission of guilt. Was that written by a lawyer?

To support and contribute to solving a medical issue, one can consider awarding scholarships to doctoral candidates specializing in this disease, whether it pertains to treatment or research. This approach is not only cost-effective but also offers a long-term solution, ensuring that the funds are used for meaningful progress rather than being diverted to stockholders or the wealthy.

You guys sure are doing a lot of mental gymnastics to justify this conflict of interest

2:36 loved that nonchalance

I actually like the more casual feel of the old setup...

watch industry has been a fraud for long time. we are paying a lot of money for tiny accurate mechanical pieces made of metals, plastic and leather. anything over $5000 for a watch is already a outrageous and brand name is what sets the price.

🔥Wow, the truth about this watch scandal is mind-blowing!⌚

Does anyone know what over shirt Michael is wearing?

In one of Nico’s recent videos he mentioned that FPJ recently said some horrible stuff (about his own bad behavior) at a dinner with collectors… and it turned Nico off to the brand… anyone know what he said?

AP pulling out of Only Watch is like MercedesBenz saying we’re don’t with the Geneva (and any other) car shows

Massively wrong. Essentially, this company is receiving non-dilutive funding in the form or grants or donations to pay for R&D. That non-dilutive funding is assumed to be increasing the value his equity stake. So it’s self-dealing. If the plan were to make the output of that R&D completely free, then there is a plausible ethical salve. But if they plan to take the outcome of that R&D to market and commercialize it, then there is conflict of interest. And since the guy running Only Watch is an investor who has taken an equity ownership position, I don’t think he’s invested his own or his LPs capital into a charity. All said, it stinks and depending on the jurisdiction could be considered worthy of fraud investigation.

Penguin Random House pulling out of the Frankfurt Book Fair? No, that would be analogous to a Rolex no show. Perhaps Simon & Schuster.

This actually looks an older broadcast.

08:50 no its sus

Unrelated but what are the allegations against F.P.Journe? I heard something about them doing something at a restaurant?

It's a Conflict of Interest. Very simple, actually.

Hot take: I liked the previous setup a lot more. Now it just feels like I'm watching a Joe Rogen podcast. If I were to write a headline for this, "The old setup just felt more honest". We get a lot of 'vague' comments in advertising all the time, so I'm gonna try and be as specific as I can - as a viewer. Your last setup made it feel like we were all in the same room as you guys were. Now, we're all watching you guys in this 'box'. That said, the sound also makes it too 'podcast-like', and that adds to that detached feeling. It's too forward, if that makes any sense. But also, the mic mounts does separate you two a bit, adding up that a Joe Rogen thing. I'll be the first to admit that I wasn't that much of a fan of this channel at first, but after Michael came in, I converted. You two balance each other very well. But this setup, in my humble opinion at least, divides your energies in an indelible way that's hard to describe. It's the same style of content, but delivered in this new way now. And I'd question, does it make it more connected, respectfully. I say with no malice, and all love for this channel.

AP pulling out is like Ferrari pulling out of F1

This is like seeing Brazil pull out of the World Cup

Love the discussion and all points raised were valid! But, Do you guys really need those massive mic holders? 😅Like why not just put them into a stand? Are you going to stand up or walk around while talking?

Ma man is slowly turning into a 70s version of Dirk Digglor.....stash and all😂

regarding the Organiser of only watch also owning a stake in 2 research facilities that claim funding from the charity; I think it is okay, if you have 2 facilities and you decide you need funding to carry out a good deed and Only Watch was a solution, it seems okay. However, from principles of internal control those who can benefit from cash/money are separated from having access to the money and any control over the money and if this is the case, it is not fraudulent.

DMT,clueless buddies,is responsible for humans being able to dream during sleep. Not a 'drug' at all.

just when you think we're done with watch drama for the year and in comes Christies

This watch auction is actually hold every two years (not one). Good work guys, wrong statement (and repeated) in the first minute. I pass

Awe, I liked the old videos, "in the living room". Warmer

The issue is the apparent failure to disclose self-dealing. The appearance was that this charity auction raised money that was then donated to unrelated entities and that those entities were chosen based on objective criteria related to the value of the research being conducted. Instead, it appears that instead of raising capital through conventional means to fund his own businesses, he used a charity to fund businesses in which he had a significant financial interest. His failure to disclose his own financial interests in the use of the charitable proceeds is dishonest. Contrast that to the disclosures of the American Red Cross or St. Jude where the compensation of the people running the charitable business is publicly disclosed in their charitable tax returns, IRS Form 990.

I wonder if AP is slightly concerned that everyone will be audited or looked into forensically that is part of this web of lies!

6:18 almost should say the principality of Zeon...

I don't get it. Is it pure gossip? Or is there any expert opinion?

Christian has morphed into a character from Yellow Submarine

The issue of executive compensation is an issue that every charity faces. The question is does this compensation reflect what other charities are paying of equal size and stature? in the United States and I can’t speak for Monaco compensation is disclosed in a form 990 which is a document. Anyone can access and read. You can also look at sites like charity navigator, Which rates each of these organizations. The rating system is a bit controversial, but it’s not a bad place to start your research. The ownership issue is only an issue if the executive failed to disclose to the donor companies that this conflict existed. It appears on the surface that three things have happened here. Firstly, this organization should’ve disclosed all of this to donors upfront. Secondarily these Watch companies should’ve done more diligence on the companies they were donating to they had an issue with it, they should’ve managed that issue internally with a charity as the true people who get punished are the children who have this affliction.

This is a really s***** situation. If true. Of course these charity foundations make money off of the auctions. But, my biggest problem here is the blatant double dipping. Funneling the funds to a company you own near majority of and are there for benefiting secondarily from is a problem. There are clear rules against this in medicine, government, even other areas of commerce.

Nah the nose itching is from the pain killers.

If u opt for 3126 ROO enhancement, AP wil reduce 59jewel to 54jewel, the watch gets lighter, the min hand jam everytime u adjust the time.... yuks! A watch not for nex GEN!

The lack of transparency is a huge red flag. The statement released only furthered any concerns. On the net positive point - I don’t agree at all. Profiting off the memory of your deceased child whilst purporting to have purely altruistic motives is ethically reprehensible. Any portion of donations held back by the charity to meet operating costs and pay competitive salaries to staff is - if stated clearly in annual report and accounts - perfectly reasonable. There are numerous ways to benchmark these costs. Anything beyond that is in my view profiteering, and unethical. It does not honour the memory of the deceased. The end does not justify the means.

Let’s see what the audit’s conclusions are. I sincerely hope it’s not the case, for the kids of course, but also for the watch world, who just cannot handle another scandal….

That fact that the relationship was not publicly disclosed from day one is not an accidental oversight. All you had to do was disclose to show you are above board. End of the day this is shady as fuck and AP did the right thing!

For comparison, it is totally unethical for American physicians to refer their patients to labs or other clinical facilities in which they have ANY financial interest. I think the money raised by Luc and One Watch is a positive but it’s also tainted. He should have disclosed from the start, that he had a financial interest in the outcome. Scientific journals, especially in the life/medical sciences, will typically state whether any of a paper’s authors had any financial interests in the treatments being reviewed.

Watches and cooking are my two passions as well - haven’t figured out how to make money out of either 😂

Michael - please try taking an antihistamine 30 minutes before starting the recording.

Please ! AP ADs are the biggest scam dealers out of any of the ADs. Bought 6 watches off them and I’m done. Paying the salesman and manager 5 grand each. It’s a joke of a company.

Is it ok? 8:43 The answer is that it's self-serving and a conflict of interest. It's not ok in the corporate world and should be even less ok in the charity world. One of the most recent examples of this in the corporate world was WeWork's founder Adam Neumann renting buildings he owned back to his company, WeWork, so that he personally profited from his company's investment decisions. He was forced out of the company as a result and WeWork recently declared bankruptcy.

Checking Christian’s sartorial choices in the recent episodes, I wonder if he is colour blind or making some chromatographic experiments to test his video kit…

My Halloween watch is a speed master Apollo 8

is Anna part of the new setup? Bring her back!

Love the new setup!

Analysis by paralysis; it’s called a conflict of interest. There you go.

Love your vids. Hate the setup

Ngl i liked the previous setup more

I legit thought he was on coke when I first started watching. It was a combination of his high energy, visual style, and nose rubbing.

Hey Rolex is a charitable organization. So am I not making a charitable donation every I buy a Rolex from an AD?🤪

Brilliant 👍

Thats a fun shirt.

It feels like the father..founder of the foundation is sincere in his desire to do good...but is simultaneously taking control of the funds to enrich himself in the process..self dealing..not a good look. Unfortunately,a lot of heads of charities set themselves up to be big executives and pay themselves CEO compensation.

F.P. Journe is pissing all over his own legacy

Pretty sure it’s 70% because that’s what was raised in the last 5 years. The rest was raised earlier. That still leaves the question of why only 5 years…

GUYS…I spent a few hours in a Party Bus on the way to Lambeau Field in Green Bay today..; BROS: (a new friend across the bus) was rocking a HUGE AP Royal Oak Offshore…) He let me try it on…can I ask its worth without sounding like a chav..?!? It was too big for my wrist… but F!! In the Presence Of Greatness…

only watch raises funds for a great cause. we should raise whatever it takes in order to get Christian to shave his mustache.

Put the shares in a blind trust, problem solved. But if he's already sold shares and profited from them then boo.

AP did the right thing. This endeavor stinks of insider profiteering….

Only Watch came to do good and ended up doing very well indeed. Complete scamsters. Huge conflict of interest.

Between the stache and the stripped shirt I could barely put attention to the content. But yeah, good stuff.

When will you have Onthony on your show?

The microphone stands are in the worst place possible. They take up 2/3’s of the screen. You guys seriously should consider relocating them plus it creates a clear divide between you both but not in a good way.

I would say, whatever money that guy earned, if he did really donate to all of the research labs and companies involved into Developement of the cure of the disease - absolutely no problem. He’s rich and doing good things for the world. In the end cudos for making all the biggest names in the industry come to you and commission there unique watches! That deserves a note of remembrance But! If he really did send all donations to his own company AND did get a commission at the auction AND is not disclosing 20% of the funds AND is not willing to audit years before the accusations - that’s the most stupid fraud and probably somebody else is standing behind the curtain.

Old set-up is so much better, it was warm but not dominating. This one is bland and the microphones are intrusive

On fp. The only reason he did that is because he will have allegations coming out soon and hopes someone will do the same. I’m not even joking tbh.