An F.P. Journe timepiece went under the hammer for CHF 8.7 million ($10.6 million) at the recent Phillips sale in Geneva.
The piece, a rare and historically significant 38 millimeter platinum chronometer wristwatch featuring dual resonating escapements and a hand-engraved, polished pink-gold dial, made over eight times its CHF 1 million ($1.2 million) high estimate at the November 8 Geneva Watch Auction: XXIV sale. This marks the fifth consecutive time a live auction at Phillips saw a watch selling for more than $10 million, the auction house said Monday.
The sale, which Phillips held in association with Bacs & Russo, garnered CHF 92 million ($112.3 million). It made auction history as the first-ever live watch sale to surpass $100 million. The auction sold 100% of its 217 lots, with many beating their high estimates.
Other notable lots included a Patek Philippe watch that beat its CHF 4 million ($4.9 million) high estimate and brought in CHF 6.3 million ($7.6 million). The timepiece features a stainless steel split-seconds chronograph with silvered dial, raised steel hour markers and tachymeter scale. Meanwhile, a titanium and pink-gold dual-time F.P Journe brought in over seven times its CHF 800,000 ($975,000) upper estimate, raking in CHF 6.1 million ($7.5 million). Created in 2007 to mark the second anniversary of the watchmaker’s Tokyo boutique, it features a double escapement, power-reserve indicator and twin small-seconds displays.
Another F.P Journe timepiece, the Vagabondage III, sporting baguette diamonds, achieved CHF 5.1 million ($6.2 million), over seven times its high price. An F.J Journe watch with pre-production chronometer with double escapement, power reserve indicator, early pink gold shiny dial and shallow engravings beat its CHF 1 million ($1.2 million) upper price to go for CHF 4.9 million ($6 million). A historically important Cartier clock sold for well above its CHF 3.6 million ($3.9 million) high price. The piece, featuring yellow gold, platinum, enamel, onyx, rock crystal, jade and mother-of-pearl, garnered CHF 4.8 million ($5.9 million) at the sale.
Image: The F.P. Journe timepiece that led the auction. (Phillips)
