Guild Wars 2

The Watchnight Statue is requiring a Favor of the Festival, from an event no longer available (Labrythine something). At this point, it can be made from two other Favors: Favor of the Pavilions, selling for 17 S; and Favor of the Bazaar, selling for 200 G, give or take. It’s my understanding that, earlier, it didn’t require the Favor of the Festival at all.

You may be confusing the item needed with something else, I’m not sure what (maybe the Watchknight Tonic?). The Watchknight Statue costs 1 Gold, and only 1 Gold.

https://wiki.guildwars2.com/wiki/Watchknight_Statue

Unless, of course, something has changed since yesterday when I purchased it.

What Inculpatus said. It should be the very last item on the vendor’s list of items, and it costs 0 favors.

Talk to the Sovereign Weapon Vendor, not the Festival Rewards Vendor.

(both merchants are located very close to the WP)