F.P. Journe Chronomètre à Résonance Sells for Record $13.9 Million at Phillips

During Phillips New York's Watch Auction XIV, an F.P. Journe Chronomètre à Résonance "Souscription, No. 007" fetched an impressive $13.92 million after only nine minutes of bidding. This sale established new benchmarks for the priciest timepiece from an independent watchmaker and the highest amount for any 21st-century watch at a commercial auction. The previous record for independent watches was held by Philippe Dufour's Grande & Petite Sonnerie, which sold for $5.7 million at Christie's in 2023. Launched in 2000, the Chronomètre à Résonance utilized the 18th-century concept of resonance, initially noted by Christiaan Huygens and further examined by Abraham-Louis Breguet, featuring two independent balance wheels that synchronize. This specific model is one of just 20 subscription pieces made between 1999 and 2000, when Journe sought deposits from collectors to support his new manufacture. No. 007 is thought to be one of only two examples encased in platinum and pink gold, complete with a matching pink gold dial, and it made its public debut. Despite the record-breaking sale, Pierre Halimi, F.P. Journe's Americas manager, voiced concerns about attracting buyers focused on assets, remarking, "The prices are just stupid... they're just way too high and we're not happy about this." This sale highlights the lasting faith of early collectors who supported Journe with little more than a promise.