Even if Richard Mille is a relatively new name in the industry, it has quickly carved a niche for itself as the watch desired by celebrities, rappers, athletes, sports figures, and the fashion-conscious. The watchmaker achieved notoriety in 2012 when it released the RM 56-02, which was sold for over $2 million. Its sibling–the RM 56-01–now fetches a price of over $2.4 million. Collectors didn’t even bat an eye, and as proof, you can hardly find one now from direct suppliers. You need to go to the reseller’s market to get one.
1.Excellent investment — The global luxury segment is expected to take a hit this year, with an estimated $600 billion loss in sales. However, timeless pieces are bulletproof. It is the same with Rolex, Birkin bags, or Richard Milles. They do not drastically drop in value, nor do buyers suddenly stop patronising them on account of other external factors. Noted luxury watch retailer Avi Hiaeve, owner of Avi and Co in NYC, likened Richard mille watches to the Hermes brand. No matter if the times are hard, you will always find a buyer should you decide to sell. If you buy a Richard Mille now, you can see prices skyrocket by 20-30% in just a few months. There is another way that Richard Mille changed the rules of the game. Even if he is a relatively new brand, he had the temerity to cut production by 70% and then jack up the retail prices by as much as 40% within a 12-month period. He made the right wager because everyone was scrambling to get one.
2. It is fashion-forward — You cannot accuse Richard Mille and Dominique Guenat of being afraid to experiment. Unlike with other timepieces that stick to what they know, the brand continues to evolve because of the innovativeness of its owners. For example, it uses metal and other materials used by NASA or F1 car manufacturers. The barrel case is also unique to the brand. When you look at the front, middle, and back bezels, all the decks are curved. The process is also quite intricate since it is very difficult to polish curved surfaces. It is the reason why most watchmakers avoid it. And to make it even harder for himself, Richard Mille broke down each watch case to three pieces. To keep the dust from entering, the fit between the three components should be perfect–down to the 100th of a millimetre.
3. Each timepiece is rare — Richard Mille reportedly only releases 5,000 watches each year. Compare that to Rolex, which rolls out 800,000 pieces annually. When you count the celebrity endorsers, athletes, rappers, football or basketball players who are all looking to wear the brand, how many are left for the average consumer? There is a reason why the watchmaker commands such a high price. You pay for the privilege of owning one because there is always a long queue of interested buyers every time a piece is rolled out. Since they are highly collectible, you can always earn good profits on account of the scarcity when you are ready to sell your item.
Whether you are buying a timepiece for your personal collection or for investment, you cannot go wrong with Richard mille watches. When you wear the brand on your wrist, people instantly know that you are wearing a limited edition.
