Quartz wristwatch goes for staggering $420,000 at auction - the second-most expensive sale in watchmaker's history

F.P. Journe and Phillips auction house raised an astounding amount of money thanks to one of the high-end watch manufacturer's products.

The company partnered with the auction house in a charity event that was held at the F.P. Journe Miami Boutique on March 2.

The companies auctioned off a one-of-a-kind Élégante 48mm Titalyt wristwatch for $420,000 after 10 minutes of bidding.

It is the second-most expensive Quartz watch sale in history, and all of the proceeds are going to the Breast Cancer Research Foundation (BCRF).

'The Phillips team is immensely honored to have collaborated with F.P. Journe in offering this one-of-a-kind timepiece for such a noble cause,' said auctioneer Isabella Proia.

'Standing witness to the vibrant energy in the room as collectors and philanthropists united for this mission was truly inspiring.' 

F.P. Journe and Phillips auction house auctioned off a one-of-a-kind Élégante 48mm Titalyt wristwatch in Miami on March 2

The wristwatch was auctioned off for $420,000 after 10 minutes of bidding. It is the second-most expensive quartz watch sale in history

100 percent of the proceeds from the watch is going to the Breast Cancer Research Foundation (BCRF)

F.P. Journe has created extravagant watches ever since it was founded by François-Paul Journe in 1999.

The company only produces 700 to 900 watches every year. 

Their Élégante 48mm Titalyt at the Miami auction features a pink rubber strap and a '1' in pink instead of black, a nod to the breast cancer charity its sale was associated with.

According to GQ, the usual Élégante 48mm Titalyt is a 'dark-colored, hardness-enhancing' watch that is 'special for its dial.' 

Individuals can purchase the Élégante 48mm Titalyt online with other companies, including Chrono24.

However, anyone who is hoping to buy a 48mm should be prepared to spend more than $60,000.

The Élégante Titalyt also comes in 44mm, which is a lot less expensive than the 48mm.

F.P. Journe was founded by François-Paul Journe in 1999. The company produces 700 to 900 watches a year

Journe went to a technical college when he was 14 before graduating from a Paris watchmaking school in 1976

Flea wore a F.P. Journe Octa Lune wristwatch while he was on an episode of Hot Ones last fall. John Mayer was spotted wearing a titanium Élégante Titalyt during his 2023 tour

F.P. Journe's watches are worn throughout the entertainment industry.

John Mayer was spotted wearing a titanium Élégante Titalyt watch more than once while he was on tour in 2023. 

Red Hot Chili Peppers co-founder Flea also rocked a F.P. Journe Octa Lune wristwatch while he was on the web series Hot Ones last fall.

The F.P. Journe Octa Lune watches are more expensive than the Élégante 48mm Titalyt on Chrono24 and two of them are worth more than $100,000.

Besides auction houses, the Swiss-French manufacturer has released special edition watches from celebrity partnerships.

Francis Ford Coppola called Journe's watches 'works of art' and that they're 'masterpieces of design and engineering.'

Coppola's collaboration with the company resulted in the F.P. Journe x Francis Ford Coppola FFC Blue, which sold at an auction for $4.9 million in 2021.