F.P. Journe, The Tourbillon Souverain à Remontoire d’Egalité Despite a decline in luxury sales, the recently held watch auctions in Geneva by Phillips, Sotheby’s and Christie’s show that there is still demand for exceptional timepieces from important watchmakers.
Phillips and Bacs & Russo held two sales over a three-day period that totaled more than $57.9 million and recorded several record-breaking sales. In addition, the combined auctions were the second-highest total for a Phillips’ watch auction weekend in Geneva, and the second highest sale total in the history of watch auctions.
The auctions achieved an average price per lot of $289,000 and every watch in the combined top ten prices for both auctions exceeded $1 million. Prices far exceeded high estimates for many of the top lots. Highlights from Phillips ‘Reloaded: The Rebirth of Mechanical Watchmaking 1980-1999,’ held November 8.
An F.P. Journe Tourbillon Souverain à Remontoir d’égalité 15/93, the second wristwatch ever made, and the first wristwatch sold by François-Paul Journe, achieved $8.
3 million, more than triple its estimates. The watch achieved a new world record for the most expensive wristwatch by an independent watchmaker to be sold at auction. Crafted in 1993, this piece features a signature gold movement, raw dial design and hand-engraved inscriptions.
This is Journe’s 15th watch and was handmade by him. Rolex, Cosmograph Daytona Rainbow A Rolex Cosmograph Daytona “Rainbow”.