The most expensive FP Journe watch ever sold just hammered at Phillips for a whopping US$8.3 million (HK$64.6 million). And it breaks the record previously held by Philippe Dufour as the priciest watch by an independent watchmaker to ever sell at auction.
If the Phillips Geneva auction “Reloaded: The Rebirth of Mechnical Watchmaking, 1980–1999” is any indication, hype is not dead in the watch world. FP Journe cemented its status as a must-have prized collector’s darling today with the blockbuster sale, which set a new record for the watchmaker. The opening bid reportedly started at jaw-dropping US$5 million (HK$38.9 million), while the original estimate was in excess of CHF 2,000,000, or approximately US$2,360,000 (HK$18.3 million).
Previously, the most expensive watch ever sold by Journe was the FFC Blue made in collaboration with Hollywood director Francis Ford Coppola—made for the Only Watch charity auction in 2021—which was purchased for approximately US$4.9 million (HK$38.1 million). It also beats Journe’s contemporary, Philippe Dufour (a fellow master of modern independent watchmaking), who had formerly held the record of the most expensive watch ever sold by an indie when his Grande et Petite Sonnerie watch sold at A Collected Man for US$7.63 million (HK$59.3 million).
So, what makes the FP Journe Tourbillon Souverain à Remontoire d’Egalité worth 7,320,000 CHF (roughly US$8,369,834/HK$65.1 million at current exchange rates)? The 38 mm manual-wind timepiece in platinum with an 18-carat movement is the watch that launched Journe’s career as an esteemed independent maker, a modern craftsman and engineer following in the footsteps of long-passed watchmaking legends such as Abraham-Louis Breguet and Antide Janvier. Launched in 1999 as a 20-piece souscription (subscription) set, the timepiece is engraved 15/93; it’s the second wristwatch ever made and the first sold by François-Paul Journe. Firsts and records aside, what was and remains fascinating about this timepiece is that it improved upon Breguet’s tourbillon system with the addition of a remontoire—a constant force mechanism that provides an equal amount of energy regardless of the winding level of the mainspring to provide even greater accuracy.
In an autumn 2016 edition of the FP Journ[al], a print newsletter put out by the brand, Journe further explained his intent: “In 1991, I embarked on a new adventure. I realised (late, I know…) that it was easier to wear a wristwatch than a pocket watch. Thus was borne by 1st tourbillon wristwatch. And I did not want to replicate (for those who know me, they know I hate to copy, it is just boring to do the same thing over and over) my first movement but come out with yet another movement, this time adding a Remontoir d’Egalite. I take this as a compliment (or at the very least a validating) that we hear now lots of watchmakers talking about the Force Constante (constant force mechanism).”
The original prototype of the watch, of course, remains in the watchmaker’s private collection. This watch is one of two subsequent creations from 1993—the other is engraved 16/93. They would serve as the foundation for the DNA of the company going forward: a 38 mm case size, gold dials, and off-set indications. The secret sauce of Journe is the ability to innovate both in design and function, while looking simultaneously modern and traditional—a formula often strived for but rarely achieved in today’s watchmaking.
The icing on the cake of this beauty is that it is one of only three watches fully handmade by Journe himself. For those that truly know watchmaking, that in of itself is enough to send this timepiece into the stratosphere, but the recognition of its US$8.3 million (HK$64.6 million) importance by the market during his lifetime is significant validation indeed for Journe.
