Our first live auctions of fall 2024 season, PHILLIPS RELOADED: The Rebirth of Mechanical Watchmaking, 1980-1999, and the Geneva Watch Auction: XX, take place on November 8, 9, and 10, at the Hotel President, at Quai Wilson 47, in central Geneva. The auctions include more than 195 of the world's finest watches – and though we are loath to boast, we truly think they're some of the best catalogs we've ever put together. We'll be highlighting a number of the most interesting lots and stories featured in the sales over the next month, including the watches highlighted in this article.
– By Logan Baker
In the world of independent watchmaking, few names command as much reverence as François-Paul Journe.
Known for his relentless innovation, technical mastery, and deep respect for traditional watchmaking, Journe has built a reputation as one of the most influential and awarded watchmakers of the modern era. But if there is one watch that encapsulates his legacy – one creation that laid the foundation for everything that would follow – it is the Tourbillon Souverain à Remontoire d’Egalité.
This revolutionary timepiece not only launched his brand in 1999 with the now-legendary 20-piece souscription series but also represented a radical reimagining of the tourbillon mechanism, a device first conceived by Abraham-Louis Breguet two centuries earlier.
The story of Journe’s tourbillon, however, begins much earlier, in the early 1990s, when he was still crafting one-off pocket watches for a select group of collectors.
It was a time when the independent watchmaking movement had not yet taken off, and the tourbillon – a complication once deemed revolutionary – was rare in wristwatches. Journe, always striving to innovate, sought to push the boundaries of what was possible in a wristwatch, blending tradition with modern mechanics in ways that no one had dared attempt before.
Origin Story
In 1991, François-Paul Journe embarked on a journey to reimagine the tourbillon, a mechanism designed by Breguet in the early 1800s to counteract the effects of gravity on a pocket watch’s movement. While many had experimented with tourbillons over the years, Journe sought to go further. He envisioned not just a tourbillon wristwatch, but one that incorporated a remontoire d’égalité – a constant force mechanism designed to deliver consistent power to the escapement, regardless of the mainspring’s winding state.
This innovation was significant. The remontoire is effectively a small secondary spring that stores energy and releases it in regulated pulses, ensuring uniform torque to the escapement. While the remontoire had been used in clocks and occasionally in pocket watches, it had never been integrated into a wristwatch. In combining these two complications, Journe sought to elevate the accuracy and consistency of his timepiece far beyond what was then achievable.
The first prototype of this tourbillon wristwatch was completed in 1991. It was a bold statement of intent – 38mm in diameter, with a gold dial, an off-centered time display, and a clean, elegant design. The movement, entirely crafted in gold, was visible through a solid caseback, and the overall aesthetic was a blend of traditional craftsmanship and cutting-edge horology.
Journe himself wore this watch, which remains in his private collection to this day.
1993: The Birth of the Journe Tourbillon
In 1993, Journe made two more identical tourbillon wristwatches, marking the true beginning of his wristwatch journey. One of these watches, engraved 15/93 on its dial, represents the cornerstone of Journe’s legacy. This is the first wristwatch he ever sold and only the second he ever made. It is the very embodiment of what would become the hallmarks of F.P. Journe watches: innovation, precision, and an unmistakable aesthetic.
This Tourbillon 15/93, which has remained with the same family since it was first sold, is remarkable for several reasons. Its aesthetic beauty is immediately apparent, with meticulously hand-engraved inscriptions on the dial, Breguet-style hands, and a distinctive power reserve indicator at 11 o’clock. The dial, with its raw, almost steampunk vibe, showcases the watch’s mechanical heart, allowing the wearer to appreciate the inner workings in a way few other watches do.
But beyond its aesthetics, the significance of this timepiece lies in its technical prowess. The incorporation of the remontoire d’égalité was a first in wristwatches, and it would become a defining feature of Journe’s tourbillon watches for years to come. The constant force mechanism ensures that the escapement receives an equal amount of energy, which in turn improves the accuracy and consistency of the watch’s timekeeping – a goal that has been central to watchmaking since its earliest days.
This piece, along with its two siblings, was entirely handmade by Journe himself, an astonishing feat that adds to its collectibility and mystique. Only three wristwatches were ever crafted by Journe’s hands alone, making this one of the rarest and most desirable watches in existence.
The Souscription Tourbillon: The Birth of the F.P. Journe Brand
Despite the brilliance of his early tourbillon wristwatches, Journe remained relatively unknown in the broader watchmaking community throughout the 1990s. However, that began to change in 1999 when he launched the Tourbillon Souverain à Remontoire d’Egalité as part of a souscription series of 20 pieces. This was a pivotal moment in both Journe’s career and in the broader world of independent horology.
The souscription model, borrowed from Breguet, allowed Journe to raise the funds necessary to launch his own brand. Twenty collectors paid up front for the promise of a watch that would combine the groundbreaking tourbillon and remontoire d’égalité mechanisms in a production wristwatch. Each of these 20 pieces was individually numbered, with matching numbers engraved on both the dial and the caseback. These watches marked the beginning of Montres Journe, the brand that would go on to become one of the most respected names in contemporary watchmaking.
The souscription tourbillon differed from Journe’s earlier hand-made wristwatches in several ways. While it retained the same overall design language and the same combination of complications, the movement was now crafted from brass rather than gold, and the case featured a transparent caseback, allowing collectors to admire the intricacies of the movement.
This first production tourbillon was met with widespread acclaim, and it quickly established Journe as a leading figure in independent watchmaking. His approach – blending historical techniques with modern innovation – resonated with collectors who sought something beyond the mass-produced luxury watches of the time.
Produced until late 2003, the Reference T cases are predominantly platinum, though some were made in rose gold. The movements were brass, and dials could be found in yellow, pink, and white gold. All Reference T models feature the now-iconic 38mm case, except for the rare and highly coveted ruthenium limited edition pieces, which we’ll explore further.
The four generations of first series reference T tourbillons are distinguished by subtle yet significant differences. The First Generation is the Souscription series, featuring only "Invenit et Fecit / F.P. Journe" on the dial and a rounded remontoire cock. The Second Generation adds "Remontoir d'Egalité" at 12 o'clock while retaining the rounded remontoire cock. In the Third Generation, the remontoire cock becomes flat, though the dial screws remain large. Finally, the Fourth Generation sees thicker printing and smaller dial screws. While these changes may seem minor, they highlight the nuanced details that make watch collecting so fascinating.
An extremely small minority of these early tourbillons were fitted with pink "shiny" gold dials, featuring highly reflective traits. Scholarship indicates that only six hand-made pink gold dials are known. Finished with a layer of clear lacquer, this allows the printed text to appear as though they were floating over the dial surface – a trait that is prominently featured in this example, where it can almost seem as though one is seeing double. The dial also exhibits subtle stripes that attest to its hand-finished nature. The six known examples are numbers 27, 32, 58. 76 (included in the Geneva Watch Auction: XX), 82, and 87.
In 2001, two years after having launched his Tourbillon Souverain à Remontoire d’Egalité, Journe launched an example in a 40mm case (whereas his production was in 38mm), with a dial and movement coated in ruthenium. The “Ruthenium Collection” was thus born.
Made between 2001 and 2005, the watches in the Ruthenium collection bookend the brass movement production and the move to 18K pink gold movements now in use throughout Journe’s watches. The Ruthenium Collection comprises five models: the Octa Jour/Nuit (Night/Day), the Octa Calendrier, the Octa Chronographe, the Chronomètre à Résonance, and – of course – the Tourbillon Souverain.
Each model was released in only 99 examples and are considered to be some of the most highly coveted, early Journe timepieces. Stylistically, the Ruthenium collection, with the larger 40mm case diameter, close the door on the early brass movement pieces, and ushered in the more modern iterations that have drawn admirers of Journe’s craft year after year. The Ruthenium Tourbillon Souverain is powered by the brass movement caliber 1498 but coated in light-absorbing ruthenium. Similarly, the white gold dial is specially coated with the same ruthenium, yet the remarkable sheen and luster found in Journe’s earliest dials is preserved.
The Legacy of the Journe Tourbillon
The Tourbillon Souverain has since become one of the most iconic watches in modern horology, and it remains a centerpiece of the F.P. Journe collection. However, its significance extends far beyond the watch itself. The Tourbillon Souverain marked the beginning of the independent watchmaking movement, a shift in the industry that has given rise to some of the most innovative and exciting timepieces of the 21st century. Without Journe’s early tourbillon wristwatches – and without the success of the souscription model – it’s hard to imagine that independent horology would have reached the heights it has today.
In the years that followed, F.P. Journe continued to evolve his tourbillon watches. In April 2004, he introduced the Tourbillon Nouveau (TN) with an additional complication: deadbeat seconds. This feature, driven by the remontoire, allows the seconds hand to "tick" once per second rather than moving continuously, further enhancing the watch’s precision and giving it a unique aesthetic character. The addition of this complication was a testament to Journe’s constant drive to push the boundaries of what was possible in watchmaking.
The transition from the T to the TN was far more than just a subtle upgrade; Journe himself has stated that the only part carried over from the Reference T to the TN is the tourbillon cage – everything else was completely re-engineered.
The TN features either a 38mm or 40mm case, though the 40mm version is far more common. One of the most significant updates is the shift to a gold movement (Caliber 1403), replacing the brass movement used in the Reference T. Despite these changes, the case remains a mere 9.9mm thick. Aesthetic adjustments were also made: the smaller aperture showcasing the remontoire in the Reference T was replaced with a large tourbillon cage, and in its place, Journe introduced a deadbeat seconds display – a feature that emphasizes the chronometric focus of this timepiece. The power reserve indicator also received a slight redesign, angling closer to the center of the dial for better legibility.
From the back, the rose gold movement is a marked improvement in visual appeal compared to the brass of the Reference T. What’s particularly fascinating about the TN is that it has remained essentially unchanged for nearly two decades. With Journe acquiring his own dial-making facility near Geneva, the TN has also become a canvas for a myriad of interesting dial variations, from the traditional gold options to black label dials, engraved versions, and even more unconventional choices like Ferrari red and green jade. Each dial offers a unique personality to an already iconic timepiece.
The production numbers of these special dial variants are quite limited, making them highly sought after among collectors. Even the more traditional white and rose gold dials, while perhaps less exotic, remain timeless and elegant in their own right.
Throughout the TN’s lifespan, most cases have been crafted from platinum, although rose gold options do exist. The movements are always rose gold, and while the standard gold dials remain the most common, the growing diversity of dial options makes this reference particularly appealing to collectors. The majority of TNs are now produced in the larger 40mm case size, catering to contemporary tastes while preserving the same level of refinement.
In 2007, F.P. Journe celebrated the third anniversary of his Tokyo boutique with a limited edition variation of the TN that introduced a new reference: TT, standing for Tourbillon Titanium. This version is unique in that it was entirely constructed from titanium, including the tourbillon cage – a departure from Journe’s usual materials. Limited to just 20 pieces, these watches were split among his four boutiques worldwide: Tokyo, Hong Kong, Geneva, and Boca Raton. Each TT is engraved with the name of the boutique from which it was sold, adding to the exclusivity and collectability of this already rare watch.
The introduction of the Reference T, followed by the TN and its limited-edition variants, underscores the depth of F.P. Journe’s innovation and the constant evolution of his watchmaking philosophy. Each iteration brings not just incremental technical improvements but also new avenues for creative expression, ensuring that his tourbillons remain as coveted by collectors today as they were at the turn of the millennium.
There's also the reference T30, also known as the "Tourbillon Historique." To truly appreciate this piece, it’s helpful to first recall the story of a young François-Paul Journe’s very first watch. The T30 pays direct homage to that initial creation, with clear similarities in both dial design and movement aesthetics. This limited-edition watch – only 99 pieces were produced – celebrates the 30th anniversary of Journe’s first watch.
The T30 case is crafted from silver and gold, featuring a hinged, guilloché caseback. Its blued steel Breguet-style hands and overall vintage aesthetic faithfully recreate the original look of Journe’s first pocket watch. Inside, the watch houses a breathtaking one-minute tourbillon, widely regarded as one of the most beautiful movements in the world. Only 99 of these watches were made, sold exclusively to F.P. Journe’s most loyal clients. Each T30 has a 40mm case, and its movement is made from gilt brass.
In the same year as the T30’s release, Journe introduced an even rarer tourbillon known as the Anniversary Tourbillon, or "T10." This model was named in honor of the 10th anniversary of Journe’s first boutique in Tokyo, as well as the opening of his tenth boutique worldwide in Beirut. While the design is similar to the T30, the T10 features a platinum case, a black-and-white dial, and a rose gold movement instead of brass. Only 10 of these watches were made. Each of Journe’s boutiques was asked to nominate three top clients, and from those 30, 10 buyers were selected to purchase the T10.
Fast forward to 2015, when F.P. Journe introduced yet another highly special tourbillon, but this time as part of a five-watch set. To mark the retirement of the iconic 38mm case size, Journe released what became known as the "steel set." This set revived several discontinued models, each cased in stainless steel – a material typically reserved for Journe’s most exclusive chiming watches, making this collection particularly appealing to collectors.
One of the five watches in this set was a reference T. What sets this piece apart is its yellow gold dial and steel case, as well as the fact that it was the first time the reference T was paired with a rose gold movement – something previously exclusive to other models in the set. Due to its tourbillon and these unique characteristics, this watch has become one of the most collectible and sought-after pieces from the set. However, the steel tourbillon was not available for individual sale; it was only available as a combined set of five watches.
In 2019, to commemorate the 20th anniversary of their tourbillon movement, F.P. Journe introduced a reimagined version of the iconic Tourbillon Souverain: the Tourbillon Souverain Vertical.
The concept behind this innovation is both simple and powerful. In a traditional tourbillon, the mechanism must be positioned perpendicular to gravity to counteract its effects on the balance oscillations. When the watch is laid flat on its back or crystal, the tourbillon is rendered ineffective as it rotates parallel to gravity. By rotating the cage 90 degrees in the new model, the tourbillon remains sensitive to gravity even when the watch is lying flat, making it functional in virtually any position. Additionally, the cage now rotates twice as fast, and its polished surfaces on both the dial and movement side create a dynamic visual spectacle.
You can learn more, place a bid, and view the entire Phillips RELOADED catalog right here, and the Geneva Watch Auction: XX catalog right here.
About Phillips In Association With Bacs & Russo
The team of specialists at PHILLIPS Watches is dedicated to an uncompromised approach to quality, transparency, and client service. Phillips in Association with Bacs & Russo holds the world record for the most successful watch auction, with its Geneva Watch Auction: XIV having realized $74.5 million in 2021. Over the course of 2021 and 2022, the company sold 100% of the watches offered, a first in the industry, resulting in the highest annual total in history across all the auction houses at $227 million.
About Logan Baker
Logan has spent the past decade reporting on every aspect of the watch business. He joined Phillips in Association with Bacs & Russo at the start of 2023 as the department's Senior Editorial Manager. He splits his time between New York and Geneva.
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