The Phillips Hong Kong Watch Auction: XXII takes place on 30 & 31 May 2026, at our West Kowloon headquarters. The auction includes more than 250 of the world's finest watches – and though we are loath to boast, we truly think it's one of the best catalogues we've ever put together. We'll be highlighting a number of the most interesting lots and stories from the sale over the next month, including the ultra-rare F.P. Journe Tourbillon Souverain made for the opening of the brand's Beijing boutique.
– By Logan Baker
Few watchmakers command the kind of attention that surrounds François-Paul Journe today.
In the span of three decades, the Marseille-born, Geneva-based master watchmaker has transformed what began as a fiercely independent project into one of the most coveted names in modern horology.
His watches inspire scholarship, devotion, and increasingly spectacular auction results. Production remains intentionally small, hovering around 1,000 watches per year, and that scarcity has only intensified demand among collectors who see Journe’s work as one of the defining achievements of contemporary watchmaking.
At the heart of this story sits the F.P. Journe Tourbillon Souverain. First introduced in the late 1990s and later refined into the Tourbillon Nouveau generation, the model embodies the philosophical core of Journe’s approach to watchmaking. The movement pairs a one-minute tourbillon with a remontoire d’égalité, a constant-force mechanism designed to deliver more consistent power to the escapement. It is both technically sophisticated and intellectually satisfying, the sort of solution that reveals Journe’s deep engagement with historical horology while remaining unmistakably modern.
By 2003, the introduction of the TN generation marked a significant evolution for the model. The new calibre 1403 replaced earlier brass movements with plates and bridges crafted in 18k pink gold, while integrating a deadbeat seconds mechanism directly within the remontoire system. The result was a watch that combined visual drama with mechanical ingenuity. Over the roughly 15 years that followed, the Tourbillon Nouveau would remain one of the brand’s defining references, though production numbers remained extremely small by any measure.
Within this already rare family, boutique editions occupy a particularly special place. As F.P. Journe expanded its global presence during the 2000s, special watches were occasionally created to mark the opening of new salons or important milestones. These pieces were produced in minuscule numbers and often featured unusual dial treatments or subtle visual signatures tied to a particular city or moment in the brand’s history.
The watch offered here belongs squarely in that tradition. Created in 2010 to celebrate the opening of the Beijing boutique, the Tourbillon Souverain “Chine 2010” stands apart immediately thanks to its striking red lacquer dial. The color was not chosen at random. Instead, it references China’s national flag, with five stars replacing the standard hour markers of the power-reserve indication. The result is bold yet thoughtfully executed, transforming one of Journe’s most recognizable dial layouts into something distinctly tied to the occasion it commemorates.
Only five examples of the Chine 2010 edition were produced in total, making it one of the rarest variations of the Tourbillon Souverain ever created. Even within that tiny production run, case sizes varied. Two examples known publicly have appeared in 40mm cases, while the present watch is believed to be the only example executed in the brand’s original 38mm format.
To our knowledge, only three examples from the limited edition of five have ever appeared on the market. Two were cased in 40mm, while just one was produced in the more classically proportioned 38mm diameter seen here. Phillips had the pleasure of offering the first publicly known example at the Hong Kong Watch Auction: XIV, in May 2022, where it achieved a remarkable HKD $8.72 million, underscoring the extraordinary demand for these boutique commemorative pieces.
For seasoned collectors, the case size alone carries real significance. Early Journe watches were frequently produced in 38mm cases, a format many enthusiasts feel best reflects the aesthetic proportions of the brand’s formative years. The size eventually disappeared from the catalogue as tastes shifted toward larger watches, which only increased the desirability of earlier pieces that preserved those classic dimensions.
The example appearing in the upcoming Phillips Hong Kong Watch Auction: XXII, therefore, stands apart on several levels.
It is one of just five Chine 2010 Tourbillon Souverains ever produced, the only known example in 38mm, and only the third to surface publicly. The rarity alone would be notable. Combined with the distinctive dial and the historical moment it represents in Journe’s global expansion, it becomes something far more meaningful.
In a collecting landscape increasingly defined by scholarship and nuance, watches like this capture the spirit of modern independent watchmaking. They reflect not just mechanical ingenuity but also the narrative of a brand that has grown from a single watchmaker’s vision into one of the most influential forces in contemporary horology.
You can learn more, place a bid, and view the entire Hong Kong Watch Auction: XXII catalogue 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 ten years covering the watch industry from every angle. He joined Phillips in Association with Bacs & Russo in early 2023 as Senior Editorial Manager, after previous roles at Hodinkee and WatchTime. Originally from Texas, he spent a decade in New York and now calls Geneva home.