Hodinkee
Breaking News: F.P. Journe Souscription Chronomètre à Résonance Achieves $13.9 Million – Becomes Fifth Most Expensive Wristwatch Ever Sold
It felt inevitable. Just over six months after an F.P. Journe narrowly missed joining a certain historic list of wristwatches dominated by Patek Philippe and Rolex with the $10.75 million sale of Francis Ford Coppola's personal FFC at Phillips New York (a record for the brand), one finally reached that rarified air. François-Paul Journe invented it. He made it. The market made it historic. The F.P. Journe Souscription Chronomètre à Résonance no. 007 is now the fifth-most expensive wristwatch ever sold and the third-most expensive watch sold not for charity. Arguably Journe's most important and emblematic model, a confluence of details made this example—which crossed the auction block on Saturday, June 13—the one to own, at least according to bidders. To the tune of almost $14 million, no less. In some ways, it seems the perfect cap to a wild shift in the market where, in less than a year, F.P. Journe has become more closely watched than other previously preferred blue-chip brands and references. And yet, the market is so hot that there were a number of remarkable results from the New York, Geneva, and Hong Kong auctions. Not for nothing, but a Patek Philippe 5004 is now a $5 million watch, not only blowing out the previous non-charity record ($1.5 million for Michael Ovitz's platinum example, which was sold last fall), but eclipsing the 5004T for OnlyWatch (which sold for $4 million, give or take, back in 2013). And the fresh-to-market pink gold, satin-cased Pate...
