Why Ezra bought the $250,000 watch

Sunday was a memorable day for German luxury house Montblanc and for UAE Airline Emirates as one of travel retail’s most innovative promotional partnerships reached its climax.

But it was an even more special day for Michael Ezra Mulyoowa, who took possession of a unique Montblanc watch, offered for auction by the German luxury house (in tandem with its local representative Visions) and Emirates during a three-month inflight promotion earlier this year.

Ezra’s amazing bid of $250,000 was the highest of the 36 received – all of which had to exceed the reserve price of $65,000.

That is a lot of money for a watch. But this is no ordinary watch – the ‘one of one’ limited edition automatic Montblanc chronograph centennial timepiece is encased in 118 grammes of 18ct solid white gold. It features a bezel set with black and white diamonds and a 43-faceted diamond on the crown (winder), shaped in the distinctive Montblanc star, with a total weight of 1.5 carats.

Ezra and two guests were also flown First Class on Emirates to Montblanc’s headquarters in Hamburg, Germany. They then went on to Zürich for a stay at the luxurious Montblanc Chateau in Le Locle, the heart of watchmaking.

Perhaps the most appealing aspect of the promotion was that no-one made a cent out of it. All proceeds, including the production costs of the watch, went to the EK Foundation, a charitable fund created by Emirates to help underprivileged children.

The excellence of the promotion was recognised by the industry when it won the ‘Best Partnership Initiative’ at the annual Frontier Awards, the ‘industry Oscars’, in Cannes last month.

On Sunday, Ezra presented a cheque for $250,000 to His Highness Sheikh Ahmed bin Saeed Al-Maktoum, Emirates Airline & Group Chairman & CEO and Patron of the Emirates Airline Foundation, in Dubai.

Sheikh Ahmed said: “It is a day of celebration. I congratulate Montblanc in its centennial year and Mr Mulyoowa for making the winning bid for this beautiful Montblanc watch in aid of the Emirates Airline Foundation.
“As patron of the Foundation, I am extremely pleased to accept this donation which will go towards funding the many projects singled out by the foundation which provide food, medicines, housing and education for disadvantaged children around the world.

“They are the real winners of this auction which was the first of its kind in the inflight duty free industry. Its success has exceeded all expectations. The winning bid was almost four times the minimum amount required, and it is probably the biggest single transaction ever made in the travel retail industry.”

“The turning point for me was when I read about the EK Foundation,” Ezra says. “I knew any money I contributed would trickle down and reach the disadvantaged children of the world. This is a global foundation – not just targeted at a section of society.”

Ezra says he was impressed by the aims of the EK Foundation and by the stature of those behind it. “All this money will be used for exactly what they say it will be used for.”

The watch also appealed hugely. “It was one of one – which meant I would be the only person wearing the timepiece; and that was attractive enough. But I had to ask: What am I giving away in return so that society’s disadvantaged children would benefit?”

All of those factors made the purchase irresistible, Ezra recalls. So much so that he made not one but three bids. On one flight he offered $150,000. Then he topped that with successive offers of $200,000 and $250,000 – during the same flight. “I really wanted the watch and what was behind it,” he says.

But it was hardly the first time Ezra had given significant funds to children’s causes. He is famous for his extraordinary acts of philanthropy, something driven by his deep religious faith. “As a Christian I believe children are angels,” he says. “Only children are truly innocent; they don’t need to be repainted or born again.”

He continues: “$250,000 is not really a lot of money. It isn’t going to change the fate of all the disadvantaged children of the world. But it is a start. I like exclusive and expensive things, but I want them with a clear conscience. Ok, it would get me a reasonable sports car. But that is just for me. Whereas $250,000 will maybe help 10,000 children. Today if I drive a sports car, my conscience is clear because I have given away an equal amount of money.”

Having just generated undoubtedly the highest single duty free spend in the industry’s 60-year history, Ezra confirms he is a regular and avid duty free buyer – especially onboard Emirates.

He praises the initiative and Montblanc’s role within it. “These opportunities don’t come in life every day – when you like something and business itself is not benefiting. Montblanc is not making any money. They absorbed the cost of making the watch, which makes it more interesting.

So the winner is the disadvantaged children – there were no strings attached. It is a triumph of good will.”

Did he know Montblanc well previously? “Montblanc was absolutely exposed to me by Emirates,” he replies. “Because every time you go through the pages you see a Montblanc wallet, a Montblanc pen or a Montblanc watch – there is so much in the magazine.

“Of course I knew of Montblanc; if you walk down the streets of Europe you will see it everywhere. But I had never got deeper.”

About the EK Foundation
Under the patronage of Emirates chairman His Highness Sheikh Ahmed bin Saeed Al-Maktoum, the foundation is a non-profit charity organisation formed by the Emirates Group to provide humanitarian, philanthropic aid and services for children in need.
Its goal is to serve the maximum number of children in need, with the minimum amount of administrative expenses. It aims to provide a safe, nurturing and loving environment where children can realise their full capabilities and become productive members of society. It will also strive to improve the quality of life for children, regardless of geographical, political or religious boundaries and to help them maintain or improve their human dignity.

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