Loopy Costs for PF Journe at 2021 Phillips & Solely Watch Public sale

As you may need seen, this previous weekend was necessary for the watch accumulating neighborhood. Like yearly, the weekend after the GPHG is full of auctions in Geneva. Christie’s and Phillips (and others) had their auctions, and final Saturday was the Solely Watch charity public sale; all benefitting from the presence of probably the most distinguished watch collectors. Whereas the auctions confirmed a robust, however not spectacular, curiosity in classic watches from the standard suspects (primarily Patek Phillipe and Rolex), we’ve seen a renewed affirmation of a pattern that began a few years in the past. There’s a fast-growing and robust curiosity in some impartial watchmakers, reminiscent of Philippe Dufour, Roger Smith and early watches made by F.P. Journe. And looking out on the astonishing outcomes fetched this weekend at Phillips Geneva Watch Public sale XIV and Solely Watch 2021, this can be a pattern that may’t be ignored anymore!

When he created MONOCHROME greater than 15 years in the past, our founder Frank, rapidly began to deliver an emphasis on impartial watchmakers. To him, it was greater than only a easy report on a small phase of the business. Since Indie watchmakers, again Within the day, hardly received any consideration, he wished to make clear this phase as he felt they may use that further consideration very properly. Typically one-man or two-men reveals, no finances for advertising and marketing, no interns for communication, just some hard-working and passionate watchmakers creating their dream. And for Frank, it was all fuelled by a ardour…

Again in these days, the recognition of impartial and inventive watchmakers was removed from what it’s immediately. With this background in thoughts, MONOCHROME is immediately nonetheless having a robust concentrate on this a part of the watchmaking business, and we’re intently taking a look at latest developments, newcomers within the phase and, after all, the rising curiosity of collectors for watches made by Indie watchmakers. The wholesome gross sales and lengthy ready lists, as reported to us by a few of these impartial manufactures, is an fascinating indication that the market is evolving. Furthermore, the outcomes fetched by some watches on the auctions final weekend, are an equally necessary indication for the recognition of Indie watchmakers – although this must be examined with warning.

On the a number of watches provided this weekend, we’ve seen spectacular outcomes achieved at Solely Watch by Akrivia (CHF 800,000), De Bethune (CHF 1,300,000), H. Moser & Cie. (CHF 750,000) and even Konstantin Chaykin (CHF 290,000) and Czapek (CHF 240,000). After all, the state of affairs is quite particular, since we’re speaking solely about distinctive fashions and a few charity public sale, which helped to create infatuation and to lift the costs. However we even have to have a look at a extra basic public sale, the Phillips Geneva Watch Public sale XIV. And there have been some quite spectacular impartial watchmakers represented, with some fetching mind-blowing costs. Suppose Dufour with a Grande Sonnerie wristwatch offered for CHF 4,749,000 or a Duality for CHF 3,660,000. In the identical vein, a Collection 2 watch by Roger Smith offered at CHF 655,200 and a prototype Voutilainen at CHF 352,800 – all properly above their retail costs.

Nonetheless, much more importantly was F.P. Journe and a sequence of 5 souscription watches, in addition to the distinctive piece made for Solely Watch, all gathering spectacular consideration from the group of collectors and, ultimately, astonishingly excessive (ought to I say; one way or the other mindless) costs.

F.P. Journe for Solely Watch 2021

If there’s one watch that must be talked about on this article it needs to be the FFC Blue Solely Watch 2021. Not solely this watch made in collaboration with Francis Ford Coppola is very notable due to its hand-shaped automaton to show the time, nevertheless it’s additionally the very best value achieved by an F.P. Journe watch ever, with a value of CHF 4,500,000. And on the similar time, it is likely to be the watch with probably the most tangible causes for its value too.

Don’t get me mistaken, 4.5 million Swiss francs doesn’t mirror the truth of this watch, which might by no means have been priced as such if produced and offered classically. However, since we’re speaking a few distinctive piece that can by no means be reproduced and a watch offered for a really respectable charitable organisation, it may possibly one way or the other be comprehensible – and in all equity, it definitely is noble from each the model and the ultimate bidder to have raised such quantity for Solely Watch.

Nonetheless, in a much more rational means, this watch is the reflection of one thing taking place within the watch accumulating neighborhood. Along with the watches made by Rexhep Rexhepi or De Bethune x Voutilainen, it reveals a shift available in the market in direction of impartial watchmaking, or at the least in direction of a number of the members of this market phase. Not all watches from impartial watchmakers managed to lift such spectacular quantities, nonetheless, a lot of them did make substantial outcomes. Being a charity public sale, Solely Watch one way or the other lacks rationality and is usually disconnected from the truth of the market, nevertheless it stays however a sign of the desirability of the manufacturers. And on this respect, F.P. Journe is excessive, very excessive.

You may test the outcomes of Solely Watch 2021 public sale right here, at christies.com.

The F.P. Journe at Phillips Geneva Watch Public sale XIV

Apart from the distinctive piece created for Solely Watch 2021, there have been extra watches by F.P. Journe to be auctioned this previous weekend, to be exact a sequence of 5 souscription watches made within the late Nineteen Nineties or early 2000s, which means a part of the earliest wristwatches manufactured by François-Paul Journe. Consisting of a Tourbillon Souverain, a Chronomètre à Resonance, an Octa Chronograph, and Octa Quantième Perpetuel and an Octa Réserve de Marche (and a wood field too… extra on that later), these watches are definitely traditionally necessary and uncommon, however a few of them are nonetheless in manufacturing in a barely totally different kind or execution, and thus usually are not distinctive. Even with this latter argument out of the equation, remember that every of those souscription watches comes from a batch of 20 items. Definitely, we’re speaking uncommon watches, however not distinctive fashions.

Nonetheless, the public sale organised by Phillips in affiliation with Bacs & Russo confirmed an unbelievable curiosity of collectors in these souscription fashions – one thing that solely reinforces a pattern that began already a few years in the past. If we glance extra intimately, the 1/20 Tourbillon Souverain Souscription was offered at CHF 3,539,000, the Chronomètre à Resonance Souscription at CHF 3,902,000, the Octa Chronograph Souscription at CHF 961,700, the Octa Perpetual Calendar Souscription at CHF 937,500 and the Octa Réserve de Marche Souscription at CHF 554,000. We’re speaking right here 10 to 30 occasions the retail value of equal watches produced by F.P. Journe.

On one facet, we definitely can’t deny these spectacular outcomes and congratulate each the model and the public sale home for elevating a lot consideration on the work of probably the most revered modern impartial watchmakers. The watches made by François-Paul Journe are aesthetically and mechanically very good, with a robust concentrate on conventional watchmaking and ending methods, but in addition on chronometry – and we additionally see a rising curiosity of collectors on this subject, with many overly-complex time-only items turning into ultra-collectable.

These outcomes, nonetheless, additionally increase some questions, totally on the truth of the market and its precise reference to the watchmaking business in any respect. Are these watches by F.P. Journe nonetheless watches in any case, or but different objects of hypothesis like wine or artwork will be? So far as I’m pondering, and with out denying for a single second the wonder or significance of those 5 watches, I can’t consider tangible causes for a Chronomètre à Résonance being priced at virtually 4 million Swiss francs (about 3.8 million Euros or 4.4 million {Dollars}) aside from pure hypothesis and funding. There’s, to me at the least, a disconnection between the mechanical object we’re taking a look at and the value that somebody was prepared to placed on the desk…

Much more stunning is the wood field that was provided simply after these 5 watches – it was truly a particular order from the proprietor of the 5 watches. We’ve seen fairly sturdy feedback this weekend on Instagram concerning this field, which fetched greater than 100k Swiss francs… Strictly talking, sure, that is insane. However, there’s one factor that must be added to the equation to be able to totally perceive this value. It was certainly clearly acknowledged that the cash raised by this lot shall be completely given to Luc Pettavino and Solely Watch. So, all in all, such value for a field is definitely irrelevant, however because it goes to a charity, we gained’t complain.

You may test the outcomes of the Geneva Watch Public sale XIV right here, at phillips.com.

All photographs of the Souscription watches by Phillips.