2019 FPJ Resonance for $270K?

[rockdrock]

This cat can’t be serious about this price, right? I absolutely love the brand but these absurdities make me nervous. You used to find about 50-75 FPJ on the market (in C24) and now that number is close to 150 at any given time with 50% to 100% price jumps. CBs are rare but now see 10 or more on the market - consistently.

I fell for FPJ for the reason that it was relatively ‘unknown’ and ‘affordable’. Affordable in the relative term of what you are getting for the watch. I am glad for the continued success but it still makes me nervous about this meteor leap in prices.

Any thoughts from FPJ experts and years long fans?




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[rajurama]

FPJ is probably unknown to you all this while...

FPJ and Phillipe Dufoor is connoisseurs and auctions darlings since long now...

You are better off with Patek if you want high end value.

[unknown]

chrono24 is big bullshit
I can put one for sale for a million

[Russell996]

Originally Posted by rajurama

FPJ is probably unknown to you all this while...

FPJ and Phillipe Dufoor is connoisseurs and auctions darlings since long now...

You are better off with Patek if you want high end value.

Love those Dufoor's. Only known to connoisseurs.

[Jay (Eire)]

Yes, this is a joke. But there are no rules against what ones asking price should be and the seller only needs to find one buyer !

Early Resonances, brass movement, have been fetching these levels and higher recently. And the real early stuff (Souscription pieces and pre-Souscription pieces) have reached much higher levels.

But this one, no. It’s nice to have if you bought one from the Boutique as it is limited in number given the short production run. But long run I don’t believe anyone will pay up for this particular iteration.


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[offrdmania]

Wife finds out about husbands watch collection. Tells him to sell everything.

"Honey, I listed all of my watches for sale but im not sure why they arent selling, maybe people arent buying during this Covid thing"

[WatchEater666]

I don't think they will get anywhere close to that. Personally I'm with you thought. At previous used prices of $50k - $60k for a Resonance, I was all over it but there is much more competition at current used price which makes FPJ hard to justify. For me personally, I realized I could get a Zeitwerk and went with that.

[7sins]

Originally Posted by offrdmania

Wife finds out about husbands watch collection. Tells him to sell everything.

"Honey, I listed all of my watches for sale but im not sure why they arent selling, maybe people arent buying during this Covid thing"

lol

[Jay (Eire)]

Originally Posted by Russell996

Love those Dufoor's. Only known to connoisseurs.

Wasn’t it Duffer (of St George)? Those guys were ahead of their time.

[subtona]

Originally Posted by offrdmania

Wife finds out about husbands watch collection. Tells him to sell everything.

"Honey, I listed all of my watches for sale but im not sure why they arent selling, maybe people arent buying during this Covid thing"

[GreenLantern]

Originally Posted by rajurama

FPJ is probably unknown to you all this while...

FPJ and Phillipe Dufoor is connoisseurs and auctions darlings since long now...

You are better off with Patek if you want high end value.

Not true.

FPJ only since November 2019 when some fool over-bid on a Resonance and put it on the map.

[GreenLantern]

Originally Posted by WatchEater666

I don't think they will get anywhere close to that. Personally I'm with you thought. At previous used prices of $50k - $60k for a Resonance, I was all over it but there is much more competition at current used price which makes FPJ hard to justify. For me personally, I realized I could get a Zeitwerk and went with that.

I was even offered a Resonance in early-2019 for $41k.

[subtona]

Originally Posted by GreenLantern

I was even offered a Resonance in early-2019 for $41k.

but did you take it ?

[GreenLantern]

Originally Posted by subtona

but did you take it ?

No, because I already had one.

I wouldn't flip it even if I did take it, so I don't regret passing on it.

There's a seriously strong hype machine going on right now.

Seeing FPJ Resonances trading at higher amounts than FPJ Tourbillons is weird.

[boxster1990]

Yea - that hype machine is called watchbox. They have effectively cornered pre-owned market.

[JR16]

Originally Posted by boxster1990

Yea - that hype machine is called watchbox. They have effectively cornered pre-owned market.

I think it’s more than just Watchbox- the big ticket items are being sold at auctions - someone correct me if I’m wrong ...


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[RoscoPico]

Originally Posted by offrdmania

Wife finds out about husbands watch collection. Tells him to sell everything.

"Honey, I listed all of my watches for sale but im not sure why they arent selling, maybe people arent buying during this Covid thing"

guilty as well !!

[GreenLantern]

Originally Posted by JR16

I think it’s more than just Watchbox- the big ticket items are being sold at auctions - someone correct me if I’m wrong ...

Don't get me started on the auctions.

I still contend there's some shenanigans going on there, and/or two guys going at it for the sole reason of "winning" vs. the actual value of the item they're bidding on.

[JR16]

Originally Posted by GreenLantern

Don't get me started on the auctions.



I still contend there's some shenanigans going on there, and/or two guys going at it for the sole reason of "winning" vs. the actual value of the item they're bidding on.

Oh I don’t disagree ... just think it’s more than just watchbox , esp on the bigger ticket items


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[ChaseATX]

I have the watch the thread is about. Was offered $140k cash from a dealer many months ago. They had a buyer lined up. This particular dealer is know for their high margins so I’m guessing $160-$180 sale price.

$270k is a stretch but keep in mind there’s roughly 35 in that platinum/white gold dial combo and they aren’t making any more. Most landed with collectors who have them locked in the safe. Mine gets worn every month a few days around the home office.

May need to update my insurance if they fetch $270k. I’m rooting for ‘em for my own selfish reasons.




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[boxster1990]

Originally Posted by JR16

Oh I don’t disagree ... just think it’s more than just watchbox , esp on the bigger ticket items


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Here’s a thought: watchbox bidding in auctions, setting new “prices” to enhance the value of their existing and deep inventory that they bought years ago.

[JR16]

Originally Posted by boxster1990

Here’s a thought: watchbox bidding in auctions, setting new “prices” to enhance the value of their existing and deep inventory that they bought years ago.

Damn that’s dark!


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[shafran]

Watchbox is not controlling the prices. They are following the market closely and base their prices on what they see the last sales price for a model was. Other sellers are asking similar or higher prices and that encourages watchbox to keep pushing yhe envelope higher. They are not buying them on auctions.
Also they have collectors who bought cheap a couple of years ago and are now cashing out. That could also mean journe is peaking.

[Swaye]

I hope it peaks and comes back down to sanity soon so those of us that love the brand can continue to collect. Prices have reached absurd levels, and I am as big of a fan as there is for this brand. But the recent spike in pricing concerns me.

I am also a believer that WB is not driving this nearly as much as people want to believe. Are they hoarding? Sure. But crazy auction results, particularly in Asia, are what has driven this runup. WB has contributed in a way, by hoarding old models and dripping them out to keep supply tight, but the auctions are really what got this ball rolling. As far as if there are shenanigans at the auctions? I have no idea. Possible I suppose.

Most of the crazy C24 numbers are just speculators hoping to cash in. I hate that this brand has now attracted the speculators and flippers. With any luck they will move on to the next big thing soon.

[rockdrock]

@Chase, I knew there was someone that would know the deal. This is really insightful. I appreciated it. I guess if you are keeping the piece and enjoying it like that, the prices don’t matter. Much respect to you. Wearing a $82k watch makes me a little uncomfortable but knowing that most would not know what it is makes it more plausible. But, $150K+ and now so many know it. But, like you say, that’s why we have insurance I guess. Do you get a lot of people staring at it/commenting on it? I know it is not the same but whenever I wear my CB, it is like a ghost. Completely unnoticed.

By the way, is the number for this particular reiteration that low? 35? I thought is was closer to 100 but I may be way off.

I just missed the time when I was pulling my watch funds together for the below Rez. I missed it. When I was ready to purchase, it was gone. I never thought it was going to get so expensive to look for FPJs.

Again, much respect to you and always dig your wrist shots.




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[kaiserphoenix]

I don’t think the earlier Journes like the brass movements will
ever come down in price anymore and will be treated like dufour, probably reach 1m very soon for Souscription models.

For the newer stuff i think there is room for correction for sure.

[ChaseATX]

Originally Posted by rockdrock

@Chase, I knew there was someone that would know the deal. This is really insightful. I appreciated it. I guess if you are keeping the piece and enjoying it like that, the prices don’t matter. Much respect to you. Wearing a $82k watch makes me a little uncomfortable but knowing that most would not know what it is makes it more plausible. But, $150K+ and now so many know it. But, like you say, that’s why we have insurance I guess. Do you get a lot of people staring at it/commenting on it? I know it is not the same but whenever I wear my CB, it is like a ghost. Completely unnoticed.

By the way, is the number for this particular reiteration that low? 35? I thought is was closer to 100 but I may be way off.

I just missed the time when I was pulling my watch funds together for the below Rez. I missed it. When I was ready to purchase, it was gone. I never thought it was going to get so expensive to look for FPJs.

Again, much respect to you and always dig your wrist shots.




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I love the piece. This and the CO are my quirky Journe time only pieces. I must admit, the temptation to sell was very high at that price.

I’ve yet to come across anyone who knew the watch but it is a looker. One or two comments ever on it but we’re in lockdown. The CO gets way more attention from strangers to be honest. And, if someone did recognize the Res, they probably aren’t tuned into values at all like us :)

I know someone who has the black label of the Res and they gave me the guidance on total numbers of the movement made. Around 70 - 80 movements with 35 cases in the platinum like I have. Can’t know for sure but I trust his guidance given the relationship he has with them.

Here’s mine and his BL next to each other.




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[shafran]

Originally Posted by kaiserphoenix

I don’t think the earlier Journes like the brass movements will
ever come down in price anymore and will be treated like dufour, probably reach 1m very soon for Souscription models.

For the newer stuff i think there is room for correction for sure.

Price 750000 chf

[kaiserphoenix]

Originally Posted by shafran

Price 750000 chf

Exactly. I think it will be a 1M + watch soon.

[0xalate]

How much is a 40mm platinum FPJ Resonance at retail?