First State Auctions will host the sale of 28 Swiss watches with an estimated collective value of more than $2 million. The collection is described as belonging to a ‘tech mogul’.
Among the watches are timepieces from Rolex, Audemars Piguet, and Richard Mille, which will be offered in two week-long online auctions.
The headline act is a Rolex Daytona ‘Rainbow’, which is expected to sell for more than $500,000 and set a new auction record. First State Auctions founder, Ari Taibel, said this specific watch is expected to set an Australian record.
“The collector approached us directly, citing our record-breaking Patek Philippe sale in late 2023, which went for $450,000, the highest price for a single watch at auction in Australia,” Taibel said.
“We expect the Daytona ‘Rainbow’ to surpass that significantly.
“A single-vendor collection of this scale and value hasn’t been seen in Australia before. With bidding open online, we’re expecting strong interest from collectors across the world.”
The first auction will run from 12-19 July, while the second will take place from 19-26 July.
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