An Aussie Collector Is Auctioning Off $2 Million Worth of Watches, Including a Rolex Daytona ‘Rainbow’

Who’d have thought some of Switzerland’s finest timepieces would turn up Down Under?

First State Auctions is auctioning off what it claims is the largest and most valuable single-owner collection of Swiss watches in Australian history later this month. Amassed by a prominent Australian tech mogul, the 28 pieces are estimated to be collectively worth over $2 million—and these are just the ones he no longer wears, the auction house says.

The wrist candy, produced by the likes of Rolex, Audemars Piguet, and Richard Mille, will be offered in two week-long online auctions in late July. The marquee piece is a coveted Rolex Daytona “Rainbow,” which is expected to sell for over $500,000 and set a new auction record.

Rolex Daytona “Rainbow” (Ref. 116595RBOW).

“The collector approached us directly, citing our record-breaking Patek Philippe sale in late 2023, which went for $450,000, the highest price for a single watch at auction in Australia,” First State Auctions founder and director Ari Taibel said in a statement. “We expect the Daytona ‘Rainbow’ to surpass that significantly.”