The first wristwatch ever sold by François-Paul Journe is now the most expensive timepiece made by an independent watchmaker: the F.P. Journe Tourbillon à Remontoir d’Egalité “15/93” just sold for CHF7.32 million (equivalent to US$8.36 million), including fees, at Phillips in Geneva.

Delivered in 1993 to an astute Parisian collector, the watch was the second wristwatch ever made by Mr Journe. He retained possession of the first wristwatch, which now resides in his museum. As far as François-Paul Journe is an important watchmaker, Tourbillon “15/93” is an important watch – a fact proven by the hefty price.

Despite the headline number, the bidding for Tourbillon “15/93” was unexpectedly truncated. As soon as auctioneer Aurel Bacs opened the bidding at a mere CHF1 million, Paul Boutros shouted a CHF5 million bid, causing a stir in the room. Mr Boutros, the watch department chief for the Americas, was bidding on behalf of a client on the phone who is perhaps the world’s biggest F.P. Journe collector.

The huge opening bid quickly eliminated all other bidders – there were a half dozen other phone bidders – save for one gentleman in the room who has good taste and an impressive collection of independent watchmaking. The gentleman in the room made two more bids but bowed out (though he did win another notable timepiece during the sale), leaving Mr Boutros’ client to walk away with the watch for CHF6 million hammer, which is CHF7.32 million with fees.

The prior record for the most expensive F.P. Journe sold at auction was the FFC Blue that achieved CHF4.5 million in November 2021. A few months prior, London-based dealer A Collected Man (ACM) claimed the title of most expensive example of independent watchmaking when it sold a Philippe Dufour Grande Sonnerie wristwatch for over US$7.6 million. The claim, however, comes with a big caveat: the watch was sold to a director and major investor in ACM.

The US$8.36 million price for the Tourbillon “15/93” cements F.P. Journe’s position as the independent watchmaker in desirability. In terms of value, F.P. Journe now ranks alongside establishment brands like Patek Philippe and Rolex, a notable feat for a watchmaker who is still alive and working.