Recommended Reading: Dufour and Journe are basically the Patek and Rolex of the Indies, and they are on a tear
Thor SvaboeThe tide seems to be shifting in the auction world towards scarcity and craftsmanship, rather than scratched-up provenance and movie-star affiliations. We could see results of this theory already in our story on the latest Antiquorum auction here. In Monaco, the auction darlings of the last five years, steel sports Rolex, did OK, whereas the rarity value of a few references from F.P Journe smashed through the proverbial glass roof of the reserves. Are Philippe Dufour and F.P Journe the new auction stars and have steel sports watches peaked?
In this article on industry insider Watchpro, Simon de Burton argues that is an indication that the previous auction scene duopoly of Patek and Rolex is in fact slowly crumbling. Is that a fact, or is it a mere shift in the market towards rare luxury that sets buyers apart from the usual Rolex collector out there? The bigger question should perhaps be whether the bidders are following their personal taste or market trends.
A handcrafted case in point was the 2004 F.P Journe Octa Calendrier – that we covered in this story on Antiquorum’s Important Modern & Vintage Timepieces in Monaco – which more than doubled its already high estimate, going under the hammer for 188,500 Euros.
At the Dufour end of the scale, the mythical Simplicity models were at the start of the noughties selling for CHF 25,000, going up to around CHF 40,000 at the end of production. That was a rock-solid investment with the frustration of hindsight, as four years ago they were already going under the hammer for $ 250,000 USD and now exceed $ 400,000 USD. For a deeper insight into what might prove a big shift, read the full article on Watchpro, including how Lebanese retailer and super-collector Claude Sfeir has managed to get the septugenarian Philip Dufour back to the bench for a new series of the Simplicity..
The article Philippe Dufour and F. P. Journe are today’s watch auction darlings and can be read on Watchpro.