Rare F.P. Journe watch sells for $10.59 million in Geneva auction
The two-day Phillips auction at Hotel President became the first live watch sale to surpass US$100 million.
A rare platinum F.P. Journe Chronomètre à Résonance ‘Régence’ wristwatch sold for CHF 8.68 million, approximately US$10.59 million, at a Phillips auction in Geneva this month, according to the Times of India.
The two-day event, held on 7 and 8 November at Hotel President, saw all 217 lots find buyers, bringing in a total of CHF 92 million. Phillips stated this was the first live watch auction to exceed US$100 million.
The F.P. Journe ‘Régence’ featured a hand-engraved pink-gold dial and was the only example of its kind. The brand was a standout at the sale, with 13 watches fetching a total of CHF 31.8 million.
Other notable sales included a stainless-steel Patek Philippe Ref. 1436 split-seconds chronograph which sold for CHF 6,267,000. A Cartier Portico Mystery Clock No. 4 reached CHF 4,815,000, setting a world auction record for a Cartier timepiece.
Alexandre Ghotbi, Deputy Chairman and Head of Watches, Europe and Middle East, and Tiffany To, Senior International Watch Specialist and Head of Sale, called the auction an extraordinary milestone. Ghotbi said the sale was a testament to the quality of the watches and the trust of consignors and buyers.