The rarified world of auction-worthy timepieces just gained another member, as buzzed-about independent horologist F.P. Journe set an eye-popping record at the Phillips New York Watch Auction: XIV.
Founded by François-Paul Journe in 1999, the Swiss horologist is noted for its stunning works of precision horology, a symphony of watchmaking complications, utterly impressive dial designs and a dash of artistry. That remarkable attention to detail shone through earlier this week, as Phillips announced the F.P. Journe Chronomètre à Résonance “Souscription, No. 007” sold for the jaw-dropping price of $13.92 million. As recently as last December, Phillips sold an impossibly rare Francis Ford Coppola F.P. Journe watch for almost $11 million.
The luxury auction house called the timepiece “an extraordinary, important, and extremely rare limited edition pink gold and platinum dual time wristwatch,” one of just 20 on the market. In addition to its elegant pink-gold dial and resonating escapements, the watch features its own presentation box noting it’s the seventh in the highly limited-edition series.
The watch was expected to go for more than $1 million, but the latest Phillips watch auction stunner smashed records at the final hammer, breaking an independent watchmaker auction record previously held by Philippe Dufour’s Grande & Petite Sonnerie Wristwatch. That particular timepiece fetched $5.7 million in a 2023 Christie’s auction, but the latest Phillips auction raises the bar to another level entirely.
As the auction house notes, it certainly makes plenty of sense that the circa 2000 F.P. Journe masterpiece would merit a princely final bid. Of the horologist, Phillips notes that “in the minds of the world’s savviest collectors, Journe is producing some of the finest wristwatches the market has ever seen.” Journe fell in love with the industry through restoring historical watches before developing the dual escapement design that now characterizes the Chronomètre à Résonance.”Especially sought-after are his earliest “souscription” watches, made in 1999,” Phillips said in praising the watchmaker.
The labor-intensive, exceptionally precise performance of the Chronomètre à Résonance belongs in a class all its own, the company notes, as the timepiece uses only one barrel spring to power both escapements. The key is a differential placed on the first wheel, which transfers energy from the barrel spring towards secondary gear trains.
It’s an unheard-of design that places the watchmaker among modern horological legends, and the latest Phillips watch auction result speaks to the technical prowess and distinct artistry found in each enviable F.;P. Journe timepiece. With any luck, the watchmaker will likely continue to break its own auction records time after time.