Five of those titles were won while the German was driving with Ferrari, the team with whom Lewis Hamilton will attempt to win an unprecedented eighth title with over the next few years.
A skiing accident in 2013 has limited the amount that the world has seen of Schumacher in the last decade, but his legacy and achievements are clear for all to see, having the joint-most titles in the sport, the second-most grand prix victories, and the second highest amount of pole positions.
Among the eight watches to be sold include a stunning Vagabondage 1 developed by FP Journe, which comes with an estimated price of between £1 million and £1.7 million, a watch that was once a gift to Schumacher from Ferrari legend Jean Todt.
Todt and Schumacher were great friends, and the Frenchman was the CEO of the Maranello-based team between 2004-2008. The 18-carat gold watch is inscribed with a message saying: "Jean Todt for my dear friend Michael Schumacher".
Another of the watches is the Audemars Piguet Royal Oak, which was also a gift from Todt, that is expected to fetch a staggering £200,000.
Rémi Guillemin, head of Christie's watches in Europe and the United States said: "Christie's expresses sincere thanks to the Schumacher family for the trust placed in us and for the desire to share these watchmaking masterpieces with other passionate collectors from all over the world."