Described as ‘incredibly rare but also historically relevant’, leading global auction house, Phillips in Association with Bacs & Russo, have announced the upcoming sale of a complete set of five F.P. Journe “Souscription” wristwatches. The watches will be auctioned at their Geneva Watch Auction: XIV sale to be held in November 2021, (date to be announced).
Highlighting the growing interest by collectors in watches by F.P. Journe, Phillips’ most recent watch auction in Hong Kong, 5-6 June 2021 saw two F.P. Journe wristwatches make it into their ‘Top 10’ spots for prices achieved in the sale. (Please see below for details of one of these watches – a Tourbillon Souverain Black Label version).
Of the five F.P. Journe “Souscription” watches Phillips note that they are fresh to the market having been consigned by the original owner. Additionally, they state this is the only known full set of the original five “Souscription” watches with each watch being N°1 in its model series.
“François-Paul Journe is certainly one of the most talented watchmakers of his generation….”. “The word “historic” may have been overused but we cannot find a better term to describe the Souscription Set n°1. These five watches are not only the foundation of Journe’s brand but whose historical importance and relevance as number 1 cannot be underlined enough. It is humbling to hold the Tourbillon n°1 in one’s hand and to think it was the very first watch Journe made to launch his brand. The rest, as they say, is history.”
Aurel Bacs, Senior Consultant, Bacs & Russo & Alexandre Ghotbi, Head of Watches, Continental Europe & Middle East, Phillips
Indeed, the history of these watches can be traced back to 1994 when François-Paul Journe started to design his own collection of chronometer wristwatches. In 1999 François-Paul Journe launched this collection with his distinctive dial signature, ‘F.P. JOURNE Invenit et Fecit’. F.P. Journe state on their website, the Latin term ‘Invenit et Fecit’ translates to mean ‘Invented and Made’.
As Phillips in Association with Bacs & Russo note, ‘that after years of restoring antique clocks and watches as well as making unique commission pieces for discerning collectors, François-Paul Journe set out to create his eponymous brand. To finance this adventure, Journe created 20 tourbillon wristwatches with remontoir d’égalité to be sold to existing clients and friends using a subscription system, à la Abraham Louis Breguet, whereby the future owners would pay part of the price of the watch upfront. When he decided to launch the Chronomètre à Résonance a year later, Journe used the same system and the owners of the tourbillon were also offered to purchase a Résonance, bearing the same number as their tourbillon. However, contrary to the tourbillon, the limited-edition number was not indicated on the dial’.
Further, ‘the first twenty models made in the Octa collection – that was launched when Journe’s brand had be officially established – the Octa Réserve de Marche, Octa Chronographe and Octa Calendrier were reserved for the collectors who had bought the original Tourbillon and Résonance “Souscription” series, and subsequently also called “Souscription” pieces by Journe’.
Early F.P. Journe models, including the five pieces have a 38mm diameter and a brass movement. The watches will be offered for sale individually at the Phillips in Association with Bacs & Russo Geneva watch auction in November 2021.
The Five Watches:
Illustrated below are the five watches, including auction estimates and notes provided by Phillips in Association with Bacs & Russo about the watches.
Tourbillon à Remontoir d’Égalité (Platinum):
‘Fascinated by tourbillon watches, Journe decided to transpose Abraham-Louis Breguet’s invention into a wristwatch but also to improve it with the addition of a remontoir system – a constant force device used to provide an equal amount of energy disregarding the winding level of the mainspring, thus resulting in greater accuracy and amplitude. The first prototype was completed in 1991 and revisited in 1999 for his first serially produced wristwatch’.
Estimate: CHF 300,000 – 600,000 (approx. £237,081 – £474,163) excluding buyer’s premium.
Chronomètre à Résonance (Platinum and pink gold):
‘Since its launch in 2000, the Résonance has become one of contemporary horology’s most iconic pieces. Inspired by the work of the great 18th century watchmaker Antide Janvier, Journe rose to the challenge in 1983 and created a pocket-watch using the resonance phenomenon and launched a wristwatch 17 years later. It was the world’s first wristwatch to use the resonance phenomenon whereby the movement is composed of two independent balances, alternatively serving as an “exciter” and “resonator”. When in motion, the balances create the resonance effect and beat in opposition, naturally evening out each other’s discrepancies and thus permitting greater accuracy. The present model is one of only three Résonance “Souscription” pieces in platinum and pink gold with a white gold dial’.
Estimate: CHF 200,000 – 400,000 (approx. £158,054 – £316,108) excluding buyer’s premium.
Octa Collection (Platinum): Réserve de Marche/Chronographe/Calendrier.
‘According to Journe, the development of his first automatic movement for the Octa collection was a real challenge partly in terms of chronometry and timekeeping, but also in terms of respect of day-to-day comfort. He thus devised a caliber with an eight-day power-reserve that could incorporate many future complications within the same volume. An incredible challenge as, regardless of complications, the Octa caliber maintains its original dimensions’.
Octa Réserve de Marche
Estimate: CHF 50,000 – 100,000 (approx. £39,513 – £79,027) excluding buyer’s premium.
Octa Chronographe
Estimate: CHF 100,000 – 200,000 (approx. £79,027 – £158,054) excluding buyer’s premium.
Octa Calendrier
Estimate: CHF 80,000 – 160,000 (approx. £63,221 – £126,443) excluding buyer’s premium.
An F.P. Journe, Tourbillon Souverain Black Label with ‘Seconde Morte’
Amongst the ‘Top 10’ spots for prices achieved at Phillips in Association with Bacs & Russo’s Hong Kong Watch Auction: XII, held 5-6 June 2021 was a rare F.P. Journe, ‘Tourbillon Souverain, Remontoire d’Egalité avec Seconde Morte’ Black Label version. The watch features a tourbillon, with constant force remontoire, power reserve and dead-beat seconds. Commenting on the dead-beat seconds the cataloguing notes:
‘“Seconde Morte”, the art of making time stand still, is the French term for “dead-beat seconds”. This complication requires the utmost precision to reliably stop and restart the seconds hand as the escapement continues to beat—not moving until one second has elapsed, then jumps to the next second’.
Lot 848, an F.P. Journe, Tourbillon Souverain Black Label version from circa 2007. Estimated to sell for between HKD 1,000,000 – 2,000,000. It sold for HKD 3,276,000 (approx. £299,788) including premium.
A Unique Collaboration – Harry Winston and F.P. Journe
This stunning pink dial wristwatch was also auctioned by Phillips in Association with Bacs & Russo at their recent Hong Kong Watch Auction: XII, held 5-6 June 2021.
The watch’s creation brought together two highly significant figures in contemporary independent watch making, François-Paul Journe and Maximillian Büsser. Many will know of Maximillian Büsser from the horological brand MB&F. At the time of this watch being designed and created Maximillian Büsser was the CEO of Harry Winston Timepieces. In 2005 Maximilian Büsser would create the MB&F brand. MB&F stands for Maximilian Büsser and Friends to encapsulate the collaborative partners with whom MB&F engages for its horological projects.
The watch itself was Lot 808, a Harry Winston, Ref. 200/MTFPJ38P. Opus One “Piece Unique”.
Described in the auction catalogue as an extremely fine, important and unique platinum tourbillon wristwatch with Remontoire d’Égalité, power reserve indication, warranty, and presentation box. The watch has a distinctive pink dial with a brass movement and was offered by the original owner. From circa 2002. With a manual, calibre 1498, 25 jewels movement. 38mm in diameter.
The estimate was HKD 800,000 – 1,600,000. The watch sold for HKD 3,654,000 (approx. £334,379) including premium.
There is an extensive auction catalogue essay on this wristwatch which notes, ‘during the time when Maximillian Büsser was the CEO of Harry Winston Timepieces, the genius behind the Opus series realized quickly that the new millennium saw a boom for highly talented and skilled independent watchmakers. Capitalizing wisely on the occasion, Büsser set out to create the Opus series in collaboration with various watchmakers to create timepieces bearing the DNA of the brand (Harry Winston) while also bearing signature traits of the watchmaker, allowing both parties to co-share the centre stage, hand in hand. The first timepiece from the Opus series was the Opus One released in 2001 in collaboration with one of the most revered watchmakers in the industry, François-Paul Journe. With a decorated career in the watch industry, Journe set out to create his own brand in 1999. The Opus One project resulted in a total of 18 unique pieces across three different movements, a time-only with power reserve and large date, a Résonance and a tourbillon with Remontoire d’Égalité and a power reserve, such as the present example’.
‘Establishing a momentum for the Opus series for years to come, the Opus One can arguably be considered as the most important project for both parties. Combined with its rarity and technical brilliance, the unique timepieces have become one of the most sought-after creations by Journe in recent times’.
Supporting new talent:
Beyond superb watchmaking F.P. Journe also helps support new emerging horological talent. To read more about F.P. Journe’s Young Talent Competition formed with the support of The Hour Glass, luxury watch retailer in the Asia Pacific region please click on the MrWatchMaster article below, (posted: May 28, 2021).
This year’s winner was Mario Scarpatetti for his spectacular Kalender Perpeten Clock.
MrWatchMaster meets, François-Paul Journe. March 5, 2017.
In 2017 MrWatchMaster meets with master watchmaker, François-Paul Journe. Please click on the link below for an insight into the prestigious F.P. Journe brand.
For further information:
www.phillips.com / www.phillips.com/watches
www.fpjourne.com
www.mbandf.com
www.harrywinston.com
Note: if you are planning on buying a watch at auction from a location outside the UK always check first what the situation is with regard any duties and VAT liabilities should you import the watch into the UK. As with all auctions ask about fees and view condition reports in advance of the auction.