Are Richard Mille Watches a Good Investment? Data-Backed Analysis

Last updated: February 2026

Most Richard Mille watches hold or exceed their original retail value on the secondary market. Models with celebrity collaborations and limited production runs have appreciated between 25% and 400%, while older references without celebrity ties appreciate more modestly. The data paints a more nuanced picture than "buy any RM and profit."

Richard Mille's controlled scarcity (approximately 5,300 watches per year, per Forbes 2023), high-profile brand positioning, and exotic materials create conditions that favor resale value retention. But not every reference performs equally, and real risks exist for anyone treating these watches purely as financial instruments. Below: the actual resale data, which models appreciate and which do not, and how RM compares against Rolex, Patek Philippe, and Audemars Piguet.

Richard Mille's investment-grade lineup — different case materials and complications command varying resale premiums

Richard Mille Resale Value — The Data

Secondary market pricing tells the real story of whether Richard Mille watches hold value. The table below tracks original retail prices against current secondary market asking prices for key references across the brand's lineup.

The pattern is clear. Celebrity collaborations and limited-production models appreciate substantially. Core production models in desirable materials hold steady or gain modest premiums. Even older, discontinued references like the RM 010 have generally appreciated — the titanium version went from a $78,000 retail to approximately $140,000 on the secondary market. Celebrity collaborations simply appreciate faster. Condition matters too: complete sets with box, papers, and service history consistently command 15-25% premiums over watch-only sales.

Which Richard Mille Models Hold Value Best?

Three categories of Richard Mille watches consistently outperform on the secondary market.

Celebrity Collaborations and Limited Editions

The RM 27-series (Nadal tourbillons), RM 055 (Bubba Watson), and RM 52-05 (Pharrell Williams) combine limited production with high-profile name recognition. The RM 055 Bubba Watson's jump from ~$120,000 to $440,000-$500,000 represents a standout appreciation case in the luxury watch market. The RM 35-03 Rafael Nadal in Quartz TPT, retailing at approximately $238,000, now trades at $450,000-$558,000, a gain that outpaces most alternative investments over the same period.

Discontinued References

When Richard Mille discontinues a reference, the secondary market responds. Limited supply meets established demand, and prices climb. This is especially pronounced for models that had waitlists during active production: once the retail pipeline closes, the only option left is the secondary market, and that pushes asking prices up.

Materials and Production Numbers

Exotic case materials, particularly Carbon TPT and Quartz TPT, age without the wear patterns that affect precious metals. Gold cases scratch and show wear over decades; Carbon TPT maintains its visual character. This durability matters for long-term value retention. Meanwhile, production numbers act as a powerful value driver. With total annual output of approximately 5,300 pieces (Forbes, 2023), individual model production runs are often measured in the low hundreds. For detailed production data and how scarcity affects pricing, see our Richard Mille production numbers breakdown.

Precious metal cases generally appreciate less than composite materials like Carbon TPT, which maintain their visual character without the wear patterns that affect gold over decades. But even older references without celebrity ties have held or gained value — the key differentiator is the pace of appreciation, not whether it happens at all.

Richard Mille vs Other Luxury Watch Investments

Richard Mille exists in a different investment category than Rolex or Patek Philippe. The entry point, liquidity profile, and risk-reward ratio differ substantially. For current pricing across the RM lineup, see our Richard Mille price guide.

Rolex offers the highest liquidity. A Submariner or GMT-Master II can sell within days anywhere in the world. Richard Mille, by contrast, serves a much smaller buyer pool. Selling an RM at full market value may take weeks or months, and consignment fees at specialist dealers reduce net returns. Patek Philippe sits between the two, a broader secondary market than RM with strong demand, especially for Nautilus and Calatrava references.

Where Richard Mille stands out is the ceiling. The RM 055's +267% gain over roughly a decade outpaces most Rolex Daytonas and Patek Nautilus references over similar periods. But these outliers represent a small fraction of the catalog. Most current-production RM references see more modest, though still positive, returns.

Risks of Investing in Richard Mille

Any honest assessment of Richard Mille as an investment must address the risks. These are not theoretical concerns — they directly affect returns.

Market Corrections

The secondary luxury watch market experienced a significant pullback between 2022 and 2024. After pandemic-era speculation pushed prices to unsustainable peaks, many models across all brands lost 20-40% of their inflated values. Richard Mille was not immune. While the brand recovered faster than most, the correction demonstrated that watch prices are not a one-way bet. Watches that appreciate in value do so over longer time horizons, not through short-term speculation.

Servicing Costs

Richard Mille service costs range from $5,000 to $20,000 per service, depending on the complication level. A tourbillon service sits at the top of that range. These costs directly reduce investment returns. A watch that appreciates $50,000 over five years but requires a $15,000 service nets $35,000 — before insurance, storage, and transaction costs.

The cost is only part of it. Only the best watchmakers should be touching a Richard Mille — the movements and materials need specialist hands. Parts are expensive and rarely sitting on a shelf, so they usually need to be ordered, which adds time and money. Sending an RM to the wrong shop is one of the fastest ways to hurt the watch and its resale value. For more on why Richard Mille watches cost what they do, the engineering involved explains why servicing is never straightforward.

Authentication and Counterfeiting

Richard Mille's high secondary market values make it a target for sophisticated counterfeits. Authentication requires specialist expertise, and purchasing from unverified sources carries meaningful risk. Established dealers and auction houses provide authentication guarantees, but their commission fees (typically 10-20%) reduce net returns further.

Illiquidity at High Price Points

Selling a $500,000+ watch is not like selling a stock. The buyer pool is small, price negotiations are common, and transactions can take months. A Richard Mille owner who needs to liquidate quickly may accept a significant discount. This illiquidity premium is a real cost that pure appreciation percentages do not capture.

Should You Buy a Richard Mille as an Investment?

The most reliable approach: buy a Richard Mille because it aligns with personal taste and wearing preference, with appreciation as a potential bonus rather than the primary motivation. The data supports that most current-production models retain value well, and select references appreciate substantially. But treating any luxury watch as a primary investment vehicle introduces risks that financial assets do not carry.

If resale value matters to you, the data points in a few clear directions. Celebrity collaborations and limited editions offer the strongest appreciation potential. Carbon TPT and composite cases hold up better long-term than precious metals. Models with production runs under 200 pieces carry built-in scarcity premiums. For a look at the most budget-conscious entry points, see our guide to the cheapest Richard Mille models.

The weakest investment candidates are pieces without complete documentation and models where the specific configuration didn't generate strong secondary market demand. Even so, Richard Mille's overall brand trajectory has lifted most references — the RM 010 in titanium, for example, went from $78,000 retail to approximately $140,000 despite having no celebrity tie.

Richard Mille occupies a distinct space among watches that hold or gain value. The combination of extreme scarcity, material innovation, and cultural positioning gives certain references strong resale characteristics. But "certain references" is the key qualifier: not every RM is an investment. The brand's overall value rests as much on engineering and wearability as it does on financial returns. For a comprehensive overview, visit our complete Richard Mille guide.

Pricing data reflects retail MSRP where available and current secondary market listings as of early 2026; actual prices vary by condition, year, included accessories, and dealer. Appreciation percentages are calculated from published retail prices at time of release to current dealer asking prices and may not reflect actual transaction prices. Production figures are industry estimates compiled from published reports — Richard Mille does not disclose model-by-model production volumes.

Disclaimer: Nothing here is financial advice. We're watch dealers sharing what we've seen in the market, not investment professionals making recommendations. Secondary market prices move in both directions, and past results don't predict future ones. Our advice: buy the watch you actually want to wear. If it goes up in value, great — but that shouldn't be the reason you bought it.