If you’re looking to buy a Richard Mille watch from the secondary market, the current market value of popular tonneau-shaped models is generally two or three times the retail price. Richard Mille watches with round dials are valued less, often trading at close to retail.
2022 has seen quite a bit of discussion about the volatility of the luxury watch market. While we’ve witnessed some corrections in the prices of certain models, what has remained largely the same is that Richard Mille watches command significant premiums on the secondary market. Richard Mille watch prices are already expensive at retail, but grey market prices are in a league of their own.
Related content: Why Are Richard Mille Watches So Expensive?
Let’s explore the details by looking at the current market values of a selection of Richard Mille watches, and compare them with sticker prices.
RM 11-03 Automatic Flyback Chronograph in Rose Gold
Introduced in 2016, the RM 11-03 was Richard Mille’s new-generation automatic flyback chronograph to replace the RM 011. Upon its release, the RM 11-03 was offered in titanium, titanium and rose gold, and full rose gold.
This reference quickly became one of the brand’s most popular, with demand far outpacing supply and the company expanded the line with plenty of other material options. The RM 11-03 is no longer part of the current Richard Mille collection, yet this discontinued reference still has legions of fans.
RM 11-03 Richard Mille Watch Price
The rose gold version retailed for $160,000. The current market value for an RM 11-03 Automatic Flyback Chronograph in rose gold generally ranges from $325,000 to over $500,000.
RM 35-02 Rafael Nadal
Arguably Richard Mille’s most famous brand ambassador, Rafael Nadal is rarely seen without an RM on his wrist – especially on the court. Richard Mille has made a string of ultra-lightweight watches for the Spanish tennis champ, including a punchy RM 35-02 Rafael Nadal with a red Quartz-TPT carbon composite case.
RM 35-02 Richard Mille Watch Price
When the RM 35-02 Rafael Nadal Red TPT debuted in 2016, it retailed for about $145,000. Conversely, the current market value of the watch generally ranges from $375,000 to over $500,000.
RM 055 Bubba Watson White Legend Ceramic
Richard Mille has had a long relationship with professional golfer Bubba Watson and has made several watches in his honor. One such model is the RM 055, nicknamed the “Baby Bubba Watson.” This white ceramic and titanium tonneau-shaped watch runs on a stunning skeletonized manual winding movement, which can withstand accelerations of over 5000 G – perfect for wearing while practicing that golf swing.
RM 055 Richard Mille Watch Price
The retail price of the Richard Mille RM 055 Bubba Watson is about $150,000. The market value however is well over twice that, generally ranging from $340,000 to $400,000.
RM 055 Bubba Watson All Grey Boutique
In 2015, Richard Mille introduced the RM 055 Bubba Watson All Grey Boutique Edition, limited to 50 pieces. To achieve the sleek monochromatic gray look, the watch’s bezel is crafted from shot-blasted titanium carbide (a titanium and carbon alloy) while the rest of the case is made of shot-blasted grade five titanium. The watch was paired with a matching gray rubber strap.
RM 055 Bubba Watson Richard Mille Watch Price
The original retail price for the limited All Grey RM 055 Bubba Watson was around $100,000 back in 2015. The current value of the watch has exploded, typically ranging from $440,000 to over $500,000.
RM 07-01 Ladies’ Model
Unveiled in 2014, the RM 07-01 is Richard Mille’s signature ladies’ line of automatic watches. While the first models were offered in white ATZ ceramic or warm brown TZP ceramic, Richard Mille has since expanded the collection to include a wide range of materials, colors, dial designs, and strap styles. Despite the variations, they all feature that instantly recognizable curvy tonneau-shaped case and the in-house designed Caliber CRMA2 self-winding movement.
Some of the newer RM 07-01 models include the RM 07-01 Carbon TPT Bracelet (retail price: $275,000), RM 07-01 Automatic Colored Ceramic (retail price: $163,000), the RM 07-01 Automatic Winding Intergalactic (retail prices range from $188,000 to $283,000).
RM 07-01 Richard Mille Watch Price
Regarding the market value of an RM 07-01 watch, it depends on the specific version. Expect to pay at least $150,000 for the least expensive RM 07-01 models and well over $400,000 at the pricier end of the scale. There are also some super rare full factory diamond-set editions valued at over $1 million.
RM 032 Automatic Winding Flyback Chronograph Diver’s
Richard Mille watches are best known for their tonneau-shaped cases; however, the brand does have a few round watches in its lineup. Take for example the massive RM 032 automatic flyback chronograph dive watch, released in 2011, which clocks in at 50mm wide and a hefty 17.80mm thick. However, despite the size, the watch wears – like all RM models – super comfortably on the wrist.
RM 032 Richard Mille Watch Price
Upon its release, the RM 032 retailed for $125,000 in titanium and $185,000 in red gold. Today, the market value for these RM diving watches generally ranges from $130,000 to $190,000, which is almost identical to its original sticker price.
Richard Mille released the special edition “Les Voiles de Saint Barth” RM 032 in 2022, limited to 120 pieces and priced at a whopping $245,000 at retail.
RM 028 Automatic Diver’s
The RM 028 is Richard Mille’s time and date dive watch model, complete with a rotating timing bezel and a 300-meter water-resistant case to comply with the ISO 6425 dive watch standard. Speaking of the case, it measures 47mm wide and houses the Caliber RMAS7 self-winding movement.
RM 028 Richard Mille Watch Price
The first version of the RM 028 (released in 2009) was offered in titanium and priced at $75,000. However, the line has since expanded to welcome other models in rose gold and special editions such as the “Americas Limited Edition RM 028” and “Boutique Special All Black Titanium-DLC Limited Edition.” The current market value for an RM 028 generally ranges from $80,000 to $150,000.
RM 033 Extra Flat Automatic
Released in 2011, the RM 033 is Richard Mille’s first extra-flat watch, which runs on an ultra-thin automatic movement. The design of the RM 033 Extra Flat is a bit of an anomaly within the brand’s collection given its round case and slim profile; this is as about as dressy as it gets for a Richard Mille watch.
RM 033 Richard Mille Watch Price
Retail prices when the reference was launched were $70,000 for the titanium model, $85,000 for the red gold model, and $90,000 for the white gold model. Fast-forward about a decade and current market values are slightly higher, generally ranging from $85,000 to $150,000.
RM 029 Automatic Winding Le Mans Classic
In 2021, Richard Mille introduced the RM 019 “Le Mans Classic,” limited to only 150 pieces worldwide. Built as an homage to the legendary almost-100-year-old auto race, the Le Mans Classic RM 019 features a white Quartz TPT middle sandwiched between two green Quartz TPT layers and accented with orange details throughout.
RM 019 Richard Mille Watch Price
While the sticker price of the RM 019 Le Mans Classic is already expensive at $176,000. expect to pay anywhere from $350,000 to over $600,000 in the current market.
Richard Mille Watches Priced Over $1 Million
Richard Mille is no stranger to releasing watches priced at over a million dollars. For instance, there’s the RM 88 Automatic Winding Tourbillon Smiley that retails for $1.2 million, the RM UP-01 Ferrari priced at $1.9 million, and the RM 56-02 Tourbillon Sapphire priced at $2.2 million. Extraordinary prices for extraordinary pieces!
But how about market value? Which Richard Mille watches are currently valued at over $1 million on the secondary market? Here are a few:
RM 53-01 Tourbillon Pablo Mac Donough
- Released 2018
- Retail Price: $900,000
- Market Value: $1.2 million+
RM 27-04 Manual Winding Tourbillon Rafael Nadal
- Released 2020
- Retail Price: $1,050,000
- Market Value: $2 million+
RM 052 Tourbillon Skull
- Released 2012
- Retail Price: $790,000
- Market Value: $2.5 million+
RM 56-01 Tourbillon Brown Sapphire
- Market Value: $5 million+
Limited Supply of Richard Mille Watches
One of the main reasons that Richard Mille watches are so pricey is that there just aren’t that many out there. Richard Mille is great at limiting the supply of watches on the market. This prevents the risk of flooding the market with too many watches, which would in turn decrease the market value.
The company’s emphasis on quality over quantity results in just 3,000 to 4,000 Richard Mille watches produced every year. Plus, many RM models are produced in exceedingly limited runs, which often increases the appeal of the watches since they’re so rare.
According to a Morgan Stanley report on the state of the Swiss watch industry in 2021, Richard Mille joined the billionaire club with estimated revenues of CHF 1.1 billion. The company is ranked as the seventh (in 2020 and 2021) top Swiss watch brand in terms of annual revenue.
When you’re ready to add an RM to your watch collection, check out Luxury Bazaar’s inventory of Richard Mille watches.
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