In a record breaking online auction that has left the horology world astir, a Limited Edition Richard Mille watch (#RM61-01 CA-TZP) went under the hammer.
A New Australian Record for a Watch at Auction
Richard Mille Yohan Blake Monochrome Limited Edition of 150 ceramic #RM61.01 CA-TZP
In a record breaking online auction that has left the horology world astir, a Limited Edition Richard Mille watch (#RM61-01 CA-TZP) went under the hammer at First State Auctions on Sunday, 23 July 2023. With an auction estimate of AUD $80,000 - $90,000, it was the first known auction of a Richard Mille timepiece in Australia. The anticipation of the auction was palpable, but what ensued was nothing short of awe-inspiring!
The Richard Mille RM61-01 CA-TZP, renowned for its innovative design and extraordinary craftsmanship, was destined to attract luxury Swiss watch collectors and enthusiasts alike. This exclusive timepiece boasts an intricate combination of Carbon TPT and Zirconium Oxide ceramic TZP, providing exceptional durability and a mesmerising appearance. The unique tonneau-shaped case is a signature element of the Richard Mille brand, elevating its aesthetic appeal to new heights. The spirited bidding on the Richard Mille featured 19 unique bidders and 4,953 viewers vying for the chance to possess this horological masterpiece. Unexpectedly, the "bidding war" intensified, surpassing all initial auction estimates, and the fervour for the Richard Mille RM61-01 CA-TZP reached a crescendo. The auction closed at an astonishing price of AUD $306,000 (including buyer's premium) - over three times the low auction estimate! This result still represents good value as our research found the same model selling online overseas between $400,000 and $600,000.
The buyer, a distinguished watch dealer in Australia, successfully secured this unparalleled timepiece, a testament to the enduring allure and investment value of Richard Mille creations. The extraordinary competition underscores the increasing demand and appreciation for limited edition luxury watches in the market.
Featuring a skeletonised dial that reveals the intricate inner workings of the movement, the RM61-01 CA-TZP combines artistry and engineering, ensuring precision and performance that befits the Richard Mille name. Its renowned manual-wind caliber RM61-01 boasts a power reserve of approximately 55 hours, ensuring seamless timekeeping for even the most discerning collectors. The Richard Mille RM61-01 CA-TZP is not just a watch; it is an embodiment of innovation and creativity, pushing the boundaries of the "High Art of Watchmaking" to uncharted territory.
As the dust settles on this historic First State Auctions online auction, the question on everyone's mind remains: What's next for the world of Richard Mille in Australia? Only time will tell.
First State Auctions is Australia’s leading auction house specialising in Fine Jewellery, Natural Diamonds & Gemstones, Swiss Watches and Designer Handbags. Click here to see the current catalogue.
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