Recap: Christie’s The Art of F.P. Journe
In a white glove sale, F.P. Journe cemented his position as one of the most collectible watchmakers alive today.
It was hard to deny the energy in the air as I walked into Christie’s The Art of F.P. Journe auction this past Friday. Even against the backdrop of a weekend filled with incredible watches in the world’s most watch-focused city, there was a distinct sense that what Christie’s was doing in the Four Seasons Hotel des Bergues Geneva was something different.
That something was the first-ever sale dedicated entirely to the work of a living, independent watchmaker — François Paul Journe. Undeniably a man worthy of the honor, Journe founded his eponymous brand in 1999 (though he was selling watches under his own name as far back as 1984 and had opened his workshop in 1985). In the over two decades since, what has come is a growing catalog of technically advanced, impressively finished, and wildly unique wristwatches.
Journe’s innovations have led him to win the Aiguille d’Or at the Grand Prix d’Horlogerie de Genève three times, a feat unmatched by any other brand or watchmaker. He has also been named on numerous patents for watchmaking innovation, including 10 for the Centigraphe Souveraine, a complication which proved immensely popular this weekend in Geneva.
This past Friday’s sale consisted of 40 lots — only 39 of which were listed in the catalog, but we’ll get to that later — with 38 of those representing rare, significant, or desirable pieces produced by Journe’s brand Montres Journe SA. The entire collection was curated by a single anonymous collector and represented an impressive command of the brand’s evolution. Highlights included a stunning array of watches ranging from recent limited editions to early brass movement masterpieces (To read more about the impressive swath of watches included in the sale, read Jack’s pre-sale coverage here).
Amazingly, and in a profound declaration of collector’s faith in the brand, the auction sold 100% of its lots and, factoring in buyer’s premium, no lot failed to achieve its estimate. In fact, I am hard pressed to find an example of a Journe in any sale at Auction Week that failed to sell, a strong argument in favor of the brand’s desirability and increased recognition in recent years.
Christie’s Head of Watches Europe Remi Guillemin summed up the event, stating “The Art of F.P. Journe marks an incredible moment for independent watchmaking … With 100% of the lots selling, in a packed room with incredible energy and results, this sale showcases the desire of collectors for innovative projects, driven by their ever-increasing knowledge and desire.”
In a roughly 90 minute sale presided over by two auctioneers — first Christie’s International Head of Jewelry Rahul Kadakia, then Head of 20th Century Art Day Sales Emmanuelle Chan — a room full of industry notables and devoted Journe collectors, including The 1916 Company alumni Wei Koh and William Massena, watched with rapt attention and enthusiasm as piece after piece were sold by the pair operating from the white rostrum at the head of the hall.
The auction kicked off with a surprise lot, an incredible pencil drawing of the F.P. Journe Tourbillon Souverain “Souscription” which would eventually close out the auction. The drawing, by Tamas Feher, was sold to benefit Only Watch, with the entire proceed from the sale being donated to the charity, which will mount the tenth edition of its bi-annual sale later this year (watch this space, there’s sure to be some incredible watches we will have to discuss as we get closer to the sale). It was also a fitting tie-in, as all the winners from this Journe sale will be invited to a very special “Winner’s Circle” event the weekend of Only Watch in Geneva this fall.
Other moments of excitement came from earnest buyers, with a particularly jubilant expression coming from a collector who jumped in at the last minute with a high bid on a stunning platinum example of the Chronomètre Souverain Black Label. A bidding war between two bidders operating anonymously through Christie’s digital “Christie’s Live” program also captured the audience through a voracious back and forth of escalating bids on the penultimate lot of the sale, a Pre-Souscription, platinum-cased, brass movement Chronomètre À Résonance.
While brass movement pieces performed well, though perhaps slightly below the loftiest of expectations, the exceptional performance of limited editions produced in the post-brass era more than made up for any softness in that market.
Notable limited editions which exceeded expectations include an Octa Calendrier with Black Mother-of-Pearl dial, which realized a sale price of CHF390,600; a spectacular Tourbillon Souverain with Jade Dial, which realized a price of CHF1,134,000; and, in possibly the most shocking performance of the day, the Chronomètre Souverain produced to commemorate the opening of F.P. Journe’s Dubai Boutique, realized a price of CHF182,700 — after having quickly blown past its estimate in a series of rapid bids.
That said, the standout lot of the sale was, without a shred of doubt, the Tourbillon Souverain “Souscription” which, as mentioned above, also provided the inspiration for the sale’s first lot. Initially sold as the second of a batch of twenty watches produced under Breguet’s Souscription model, the Tourbillon Souverain is the foundation upon which the Journe brand has been built, and what a foundation it is.
Cased in 38mm of platinum, and equipped with a yellow gold dial and brass movement, this watch shows the early signs of Journe’s obsession with precision, featuring a Remontoir D’Égalité — which marked the first time a remontoire had ever been fitted to a wristwatch. Considering the historical significance, advanced technical design and sheer rarity of this model, the final sale price of CHF2,707,000 almost seems like a bargain, as these early Journe watches are sure to continue to climb.
It is worth noting that this was not the only sale of the weekend to feature Journe’s watches. His watches showed up at auctions from all three major players of the weekend, performing consistently across the board. With all that said, François-Paul Journe had a great weekend, and those collectors who have been tracking him over the last several decades should feel absolutely reinforced by a hell of a weekend, not to mention a spectacular sale.
For more information on “The Art of F. P. Journe,” including realized prices, visit Christies.com.