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F.P. Journe wristwatch sells for $10.59 million at Geneva auction
Sentiment: NeutralHigh Priority
What Happened?
A rare F.P. Journe Chronomètre à Résonance ‘Régence’ sold for CHF 8.68 million at a Geneva auction, contributing to a record total of CHF 92 million from 217 watches.
Key points
- The auction took place on November 7-8 at Hotel President.
- All 217 watches sold, marking the first live watch auction to exceed $100 million.
- The F.P. Journe watch was the highlight, fetching CHF 8,680,500.
- Phillips auction produced 24 world records and 17 lots sold for over CHF 1 million.
- The auction included notable brands like Rolex and Patek Philippe.
Key insights
- The success of the auction may encourage more high-value watch sales in the future.
- Increased competition among bidders reflects the rising interest in vintage and rare timepieces.
- The record-breaking sales could influence market trends in luxury watch collecting.
Why it matters
This auction highlights the growing demand and value for luxury watches among collectors.
Tags
Entities
F.P. Journe· BrandGeneva· CityPhillips· CompanyRolex· BrandPatek Philippe· Brand
Source
Times of India
