This weekend, Geneva will be hosting two highly anticipated watch auctions: the biennial Only Watch charity auction by Christie’s and the Geneva Watch Auction XIV by Phillips. Among the highlights of these events are the rare timepieces from independent watchmaker FP Journe, with recent auctions exceeding the $2 million mark.
One notable piece is the FFC Blue, featured in the ninth edition of Only Watch. This unique timepiece, created through a collaboration between FP Journe founder François-Paul Journe and film director Francis Ford Coppola in 2012, boasts innovative design and technique. The watch, inspired by a 16th-century mechanical hand, is expected to draw significant attention, with an estimated value of SFr300,000 to SFr400,000 ($328,000-$437,000).
The following day, the Geneva Watch Auction XIV will showcase a complete set of FP Journe Souscription watches, each numbered 1 in a 20-piece subscription series. These watches, dated from 1999 to 2004, are not only exceedingly rare but also hold historical significance as they were originally sold to finance Journe’s venture into larger-scale production.
Industry experts anticipate substantial interest and bidding for these watches, with Eric Wind, owner of Wind Vintage, stating that the auction results could be “absolutely bonkers.” The Tourbillon Souverain Souscription, in particular, is expected to surpass the combined high estimate of SFr1.46m ($1.60m) for all five watches, building on the momentum from recent record-breaking sales.
The surge in FP Journe’s popularity is attributed to the brand’s rarity, craftsmanship, and the introduction of the Patrimoine Service in 2016. The service, which involves the brand buying back and servicing discontinued models, has contributed to heightened desirability and increased auction prices.
Alexandre Ghotbi, Head of Watches for continental Europe and the Middle East at Phillips, notes that FP Journe has experienced a “meteoric” rise in the past three to four years. The brand’s success is further fueled by Journe’s passion for watchmaking and the personal touch associated with buying from an independent watchmaker.
Despite limited access to interviews, Journe’s active involvement in the watch community and his reputation as a genius watchmaker contribute to the brand’s appeal. With FP Journe’s success reflecting a broader trend of appreciation for living independent watchmakers, industry experts predict continued growth in prices due to sustained interest in horology.
The Only Watch auction, known for its charitable contributions, features an unprecedented 54 brands offering unique timepieces. Established by Luc Pettavino to raise funds for Duchenne muscular dystrophy research, the auction has raised over €70 million to date. Notably, a Patek Philippe Grand Master Chime set a record in 2019 by fetching $31 million, marking a poignant moment for the event founded in memory of Pettavino’s son.
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