An exceptional collection of 28 timepieces, highlighted by a Rolex Daytona Rainbow estimated at nearly $500,000, is set to go under the hammer. This exclusive event illustrates the growing appeal of fine watchmaking among tech entrepreneurs.
Entrusted to the First State auction house by an Australian tech entrepreneur who prefers to remain anonymous, this impressive collection of 28 pieces is already generating a buzz. While the selection features prestigious brands such as Rolex, Richard Mille, Cartier, and Audemars Piguet, it is above all the pursuit of rarity and exclusivity that drives this auction. In this highly exclusive market, the brand’s signature on the dial alone is no longer enough: the story behind the piece proves just as crucial.
The jewel in the crown: a one-of-a-kind Daytona Rainbow
The object of everyone’s desire, an 18-karat gold Rolex Cosmograph Daytona Rainbow, adorned with its original precious gemstone setting, stands out as the undisputed highlight of the event. Presented by First State as one of the Swiss manufacturer’s most exclusive models, its starting price is around $395,000, with an estimate nearing half a million—not including the 20% buyer’s premium.
According to WatchPro, this is reportedly the very first time this specific reference, the 126598 RBOW, has appeared at an international auction. This pedigree explains the excitement surrounding the model: among discerning collectors, age and provenance carry just as much weight as the watch’s condition. The catalog also features a diamond-set Richard Mille RM 016, estimated at between $130,000 and $150,000, as well as a rose gold Audemars Piguet Royal Oak chronograph. In total, this collection could easily surpass the $2 million mark.
The Mystery of Provenance: The New Socialite Sensation
Beyond the mechanical excellence, it is the identity of the person behind this consignment that has captivated the watch community. The profile sketched by the Australian press has sparked a veritable social media treasure hunt. The Australian newspaper mentioned the names of several rising stars in the local tech scene—such as young tycoons Ed Craven, Adrian Portelli, and Laurence Escalante—but all have formally distanced themselves from the event.
For his part, Shane Anthony, founder of the watch boutique The Smiling Second, revealed that he knows the identity of the mysterious collector but is keeping it a secret. He highlighted the emergence of an extremely active tech clientele in this segment, particularly founders of SaaS platforms, e-commerce sites, and more speculative industries. This phenomenon is no longer a niche trend: it reflects the shift of a massive flow of tech capital toward highly prestigious physical objects.
High-end watchmaking, the ultimate refuge of hyper-luxury
This sale comes amid a period of rationalization in the tech and collectible watch markets. While the pandemic-driven frenzy—a time when low interest rates turned certain watches into quasi-financial assets—has subsided in the face of a tighter economic climate, the ultra-high-end segment remains an exception. Masterpieces continue to fetch record-breaking prices, driven by their extreme rarity.
The recent record set by an F.P. Journe Souscription Chronomètre à Résonance, which sold for $13.9 million in New York, is striking proof of this. The Daytona, the undisputed icon of the chronograph since 1963, naturally retains its status as a coveted benchmark.
This enthusiasm among entrepreneurs for rare timepieces goes beyond mere whim. It reveals a generation in search of new status symbols, preferring to celebrate its success through the lens of artisanal craftsmanship, mechanical virtuosity, and discretion. Far from digital exuberance, watchmaking imposes a different sense of time: slower, more expensive, and fundamentally more thoughtful. By orchestrating this trend, First State crystallizes this cultural transition. In the hushed atmosphere of the auction house, the silence of a perfect dial often speaks louder than a lengthy press release.