FabR
[Senior Patek Moderator]
26166
Yep, that's why I was wondering if there's a substantial/structural reason that someone more knowledgeable with FPJ's market than I can identify...
It is possible this result is simply an outlier (e.g., the case of two bidders who, for whatever reason, desperately needed this specific watch in their lives...), but as far as I know, it might also be some intentional form of speculation which will take place over multiple auctions, or more optimistically, the sign that collectors are now willing to bet on FPJ as a brand -- well beyond some obvious speculation on a steel CB...
One potential concern that I see in the latter situation is that of a "temporary" bubble, i.e., prices become too inflated (or inflated too soon) to be sustainable, in which case market consequences won't be any good (or easily reversibile) for FPJ in the long run. But should this nice brand reliably start gaining significant value in the minds of collectors beyond the more predictable models, this will very much benefit its image. Just a few brands (the usual ones) have been able to achieve and sustain a similar "recognition", so while we are probably a long way before having any certainty on FPJ, a similar trend does seem worth paying attention to ;-)
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RDM at Christies going nuts
Just wondering if anyone know if this is one of the mysterious prototypes? It doesn't say in the description but it seems a bit crazy that it's going for USD130k as I type with 2+ days left to go. Or is it because it's dial? Do we have an estimated # of R...
I’m not an expert on these pieces but this result does indeed seem extremely strong...perhaps because of rarity of the model (they say only 120 in this version)...
..plus the change in color due to patina, if we follow the official description? Still, it seems hard to justify how patina can essentially triple the value of a watch, no matter how unique it looks because of it...😉 Let’s see if someone knowledgeable wit...
Don't get me wrong I see why FPJ is rising in value
I agree with all the above. But THIS particular one going for 130k when last known traded was at high 40's? Just wanted to see why THIS one is so special. It's not a prototype, yellow dials are just common, then why? Don't forget this is the most basic Oc...
Yep, that's why I was wondering if there's a substantial/structural reason that someone more knowledgeable with FPJ's market than I can identify...
It is possible this result is simply an outlier (e.g., the case of two bidders who, for whatever reason, desperately needed this specific watch in their lives...), but as far as I know, it might also be some intentional form of speculation which will take...
Resonances were crazy too but now...
When the resonance hammered at 250k late last year people were laughing at what crazy buyer paid that much. He is now almost flat (though of course could have executed a lot better). For me personally the ceiling is when you start competing with big hitti...
It's all ChristianDK's fault and I keep telling him this
but he doesn't listen. Is it really just coincidence that Journe prices started to skyrocket right when Journe was made a sub-Forum on WPS again? I, for one, don't think so...
Naaa, I think it’s a broader trend
You see it on Hodinkee, A collected man, and other vintage dealers writing articles, doing videos on FPJ. We came back at a fortunate time at WPS. Independents have become very hot and the traditional brands are bringing so little new to the table. Brands...
Agree completely
And it is great on the one hand but upsetting on the other. I, too, had pieces I wanted to add still (older 38mm ones) that are now out of reach financially.
It’s TMD’s fault
Since he posted the series with the trolls, Journe prices skyrocketed. Kidding aside - I echo what Christian said.
For you.
I’m having them back in January. Let’s see what they have to say about your accusations then.
This is nuts..
But its beginning to be a pattern. I think it is much too rapid. We have seen other brands explode suddenly and then fall back. Don’t forget things can go both ways.
Forget about this one...
I get all the plus points of the watch but at 130K USD? Nah. First of all, we will be subjected to the anchoring effect of the hefty price tag. Subconsciously we will think the Journes are gonna be 6 digit watches in value. Not quite. It defers from indiv...
There will still come new pieces...
I think the RQ in an excellent example of something very worth collecting with a reasonable price tag - for what it is. It is But I understand what you are saying. There are not many bargains any more. So it Can feel a bit like “game over” in the vintage ...
That’s a tough pill to swallow...
That collecting will be mostly limited to new models. The older ones have so much charm and intrigue to them to me. Hopefully FP adds something smaller back to the line up, but not holding my breath. What’s even more disappointing is that most models will...
ADs generally facing a very tough future.
Thats been the direction for a good while and I think It will continue.
Just feels really expensive now Christian
I’m generally reluctant to pay when it hits 6 digits — not in this climate. Maybe I’m wrong and I have to think of these Journes like tech stocks. But it will take me a long while to accept what the new reality is. For now I’m just happy to own my Chronom...
Agree
Glad I got my two when I did. I would be totally priced out now. And I only bought both of them in March/April. So much for COVID bringing hot models back to earth (not that I expected them to to be honest).
I totally know what you mean
I bought mine in October last year. And the meteoric rise in price over the short span of time defies logic. COVID-19 in some aspects made some of the rich even richer and the poor even poorer. It’s a tough reality.
This is exactly why I'm trying to figure out why this particular sample is going for 6 digits
I personally don't see it as a norm. This is just an early RDM, nothing else (it seems so far, still). If even this can fetch a 6 digit sum, what does it imply for other models. It just does not make sense for all other FPJs to also trade at 6 digits. And...
The way I see it is this
We try to determine causal relationships because it appeals to us however a lot things in life are random. I think the 6 figure RDM is a random occurrence which I will not try to justify (my friend would justify an unexplained price spike during auctions ...
Yeah I guess we just have to treat it as that
Just one of those things in life where everything is aligned for the seller to get this lucky and see a surprise sale. I bet if I tried to sell my RDM it'll get all kinds of low ball offers instead lol Such is life.
RDM market
RDM’s are going for at least 80K these days. This is not an anomaly as I’ve seen several pieces exchange hands privately. Some as high as 125k+. The prototype went for 200-250k at auction last year. I’d like to also point out that this isn’t the only Jour...
Guys, Im going to close the tread down for now.
The reason is that we we have a policy on the forum about not discussing street prices. On the other hand we do take a bit of liberty to this rule, when it comes to the reporting of special/spectacular auction pieces and results. I am the moderator of thi...