F.P. Journe Watch Sells for $10.59 Million in Geneva

The F.P. Journe Chronomètre à Résonance ‘Régence’ sold for CHF 8.68 million (approximately US$10.59 million) at Phillips’ Geneva sale this month. It was not the only watch to fetch a price that watch collectors rarely see on a price tag. The two-day auction at Hotel President brought in CHF 92 million across 217 lots, with every watch finding a buyer. The auction house says this is the first live watch auction to surpass US$100 million.Alexandre Ghotbi, Deputy Chairman and Head of Watches, Europe and Middle East, and Tiffany To, Senior International Watch Specialist and Head of Sale, said the first-ever $100 million watch auction was ‘an extraordinary milestone’.‘It is a testament to the impeccable quality of the watches, the remarkable diversity of the collection and, above all, the trust placed in us by our consignors and buyers,’ Ghotbi said in a release.The Régence was the highlight of a sale in which the prices across the board were already exceptionally high.A never-before-seen auctionPhillips, working with Bacs & Russo, held The Geneva Watch Auction: XXIV at Hotel President on 7 and 8 November. The room was crowded with prospective buyers. Phillips counted 2,121 register...