The time, the place and a £1m watch under the hammer
- Credit: Rowley's
One of the rarest watches in the world could fetch up to £1m when it is sold at an auction in Ely.
An anonymous vendor has decided to part with his Richard Mille RM 030 Carbon Kronometry AN CA 1999 limited edition timepiece – one of only nine ever made.
The watch is to be offered by Rowley’s auction house in Ely at its sale on Saturday November 13.
It has a pre-sale guide price of £300,000-£500,000 but experts believe it could achieve twice that.
Such is the secrecy surrounding the auction that the watch is being retained by the vendor who will meet the successful bidder at the Richard Mille shop in Bond Street, London.
There, the watch will be officially verified and only then will a coded message be sent to Rowley’s which will release the funds to the seller.
Because of the high value and the fact that thieves would give someone else’s right arm to take one, there will be no opportunity to view the watch before the auction.
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These timepieces are the preserve of high-net-worth individuals and worn on the wrists of top footballers and Arab sheiks.
Roddy Lloyd of Rowley's said: “This does sound all cloak and dagger but there are good reasons.
“Richard Mille is a Swiss luxury watchmaker which specialises only in extremely high-end products.
“They are owned only by the very wealthy including the Canadian singer and songwriter Drake who paid $5.5m for one.
“The example being sold is one of only nine ever made and has an automatic movement that was four years in development.
“It has the distinctive Richard Mille shape plus a visible movement and light blue details.
“There is an automatic winding movement and a power reserve of more than 50 hours.
“The watch has an extraordinary level of accuracy, as well as durability and beauty - and is highly desirable.
“After the winning bid the seller will arrange to meet the buyer at the Richard Mille shop where staff will confirm it genuine.
“The protocols in place are to protect the vendor and ensure that the buyer is certain that the watch is genuine and in the right condition.”