At Richard Mille, one eye is always on the future, which is why the brand has new safeguards to ensure authenticity as the pre-owned market grows.

BY THEODORE DIEHL

THE Vintage and second-hand watch market has always received close attention for as far back as memory serves us, and it is safe to say that this marketplace has become even more animated and interesting today as regards Richard Mille timepieces, which hold an ever-increasing attraction for collectors and enthusiasts of fine watchmaking.

To date, the company has produced around 29,000 watches since 2001; a mere handful compared to the more typical 50,000 watches annually that many of the older “Grandes Maisons” typically roll out. More remarkable still is how we see very few Richard Mille watches available on the second-hand market; according to existing industry norms, this is quite exceptional.

The rules currently prevailing in the world of horology as to second-hand watches are rather similar to those that apply to automobiles. The second-hand market is active, thanks to individuals who admire a brand but cannot necessarily afford new models, thereby contributing to its cachet.

As with vintage cars, they constitute a different clientele. For Richard Mille watches, these fans and collectors had to wait until 2010 for there to be a market. Ever since, those who dreamt of acquiring a new Richard Mille ten years ago may consider a pre-owned model, just as Ferrari or Porsche lovers might buy a model from a few years earlier, often less pricey than the latest novelty.

“Richard Milles are rare, so there’s clearly no possible discount if you buy one new. That’s normal. But I’m very glad I was able to recently buy a pre-owned older model.”

After only 15 years in business, Richard Mille enjoys an exceptional reputation. Prices remain strong because buyers hold onto their watches. Clients are proud to wear these watches—they are lifestyle objects with a significant artistic dimension in addition to their incredibly high quality, authenticity and rarity, hence the brand’s success.

The watchmaking house quickly achieved a legitimate place next to historic, centuries-old institutions because it steers clear of industrial process. Each of the pieces is made by hand, and is quite obviously challenging to design and perfect. This more than justifies a hefty price tag right off the bat.

This degree of technicity, combined with a tremendous concern for aesthetic detail, makes every Richard Mille a work of art. That is to say, a rarity available in very limited quantities that re- quired a huge amount of R&D.

Each Richard Mille timepiece is now accompanied by a new warranty folder issued by our factory in Les Breuleux. It includes a hand-signed warranty card with more than 5 embedded security features, including a holographic seal, a dedicated user’s manual for each model and a special booklet where first and second-hand buyers will find vital statistics (model, type, material, case number, movement number, warranty number, carats etc.). Information on servicing, maintenance, and the watch’s history (previous owners) is also recorded. These documents are a fantastic tool that helps add value to genuine watches, especially in the long term.

For the brand—as well as for those entering the secondary marketplace, there are always people to watch out for: Sellers who take advantage of the brand’s unique position to buy up rare, severely limited collector’s pieces in an attempt to sell them at highly inflated prices to consumers, or copyists who try to prey on certain buyers’ lack of knowledge, and unofficial, grey market sellers who offer no service or support when a watch requires its periodic oiling, adjustment and water resistance testing”

It cannot be repeated often enough that purchasers should always work with official representatives of the brand to guarantee their timepiece and investment, and it is important to be aware that Richard Mille offers an extensive maintenance book with each watch, and a 5-year warranty that is transferable to new owners.

In any event, whether you are planning to purchase at auction, or via other secondary markets, a personal visit to your nearest official Richard Mille boutique before making a commitment is a very wise decision, not only with respect to concerns such as authenticity, but also to gain insight into the various models and possibilities the brand has to offer its demanding clientele.