F.P. Journe's CHF 7.3 Million / USD 8.3 Record-Breaking Auction Triumph
A landmark moment in watchmaking history, F.P. Journe’s Tourbillon Souverain à Remontoire d’Egalité sets a new benchmark as the most expensive watch ever sold by a living independent watchmaker.
In a sensational moment at the Phillips "Reloaded: The Rebirth of Mechanical Watchmaking, 1980-1999" auction in Geneva, the F.P. Journe Tourbillon Souverain à Remontoire d’Egalité achieved an extraordinary price of CHF 7,320,000 ($8.3 million), breaking the previous record for the most expensive watch sold at auction by a living independent watchmaker. This record-breaking sale not only marks a significant achievement for F.P. Journe but also highlights the ever-growing value and appreciation of handcrafted, independent timepieces in the luxury watch market.
At the heart of this extraordinary auction moment is the F.P. Journe Tourbillon Souverain à Remontoire d’Egalité, a 38mm platinum manual-wind timepiece that revolutionized modern horology. Created in 1993, this watch was the second-ever made by François-Paul Journe and represents the first of his timepieces ever sold. It is renowned for its innovative integration of a remontoire—a constant force mechanism that ensures the mainspring delivers an equal amount of energy, guaranteeing superior accuracy.
The opening bid of $5 million quickly escalated, reflecting the intense demand for this historical piece, with the final hammer price firmly securing it as the most expensive F.P. Journe ever sold. This surpasses the previous record set by the FFC Blue model, which was created in collaboration with Hollywood director Francis Ford Coppola and sold for $4.9 million at the 2021 Only Watch charity auction. It also eclipses the prior record-holder, Philippe Dufour’s Grande et Petite Sonnerie, which had been sold for $7.63 million, cementing Journe’s position as a master of independent watchmaking.
The Legacy of F.P. Journe – Innovation Meets Tradition
The Tourbillon Souverain à Remontoire d’Egalité is not only a masterpiece in its technical craftsmanship but also a monumental piece in F.P. Journe’s journey as an independent watchmaker. This watch marks a turning point in Journe’s career, with its design pushing the boundaries of what was possible at the time. Featuring a gold movement and a raw dial design with visible mechanical elements, the watch is a nod to the finest traditions of Swiss watchmaking while integrating a modern twist.
The timepiece was part of a limited 20-piece subscription set, and this specific model is engraved with the number “15/93,” highlighting its significance as Journe’s 15th-ever creation. Notably, this is one of only three watches fully handmade by Journe himself—an extraordinary detail that elevates its value among collectors and connoisseurs alike.
As François-Paul Journe himself explained in 2016, he created this watch to improve upon Breguet’s iconic tourbillon. By adding the remontoir mechanism, Journe further enhanced the movement’s accuracy, establishing him as one of the most innovative independent watchmakers of his generation.
An Auction That Shook the Watch World
The bidding for the F.P. Journe Tourbillon Souverain à Remontoire d’Egalité was one of the most thrilling moments in the 2024 Winter Auction Season, and it quickly became the talk of Geneva. Phillips’ auctioneer, Paul Boutros, set the stage with a strong opening bid, followed by an intense bidding battle. The final bid came in at CHF 6,000,000, with the final price including auction fees at CHF 7,320,000, solidifying its place as the seventh most expensive watch ever sold at auction.
This auction moment was also a testament to the growing sophistication of watch collectors. With top-quality, historically important timepieces like the Journe Tourbillon leading the charge, bidders were keen to acquire watches that embodied the ultimate in craftsmanship and legacy. The bid reflected not only the value of the watch itself but also the deep respect and admiration the market has for F.P. Journe’s dedication to both innovation and tradition.
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