The world of luxury timepieces is abuzz with the news of an extraordinary auction set to take place in Australia. First State Auctions will present a remarkable collection of 28 Swiss watches, all from a single owner—a prominent Australian tech mogul. The collection, estimated to be worth over $2 million, is poised to make history in the Australian auction scene.
The auction house describes this as the largest and most valuable single-owner collection of Swiss watches ever seen in Australia. The timepieces, crafted by esteemed brands such as RolexAudemars Piguet and Richard Mille will be offered in two week-long online auctions in late July 2026. The marquee piece of this collection is a highly coveted Rolex Daytona ‘Rainbow’ expected to sell for over $500,000 and potentially set a new auction record.
The Star of the Show: The Rolex Daytona ‘Rainbow’
The Rolex Daytona ‘Rainbow’ (Ref. 126598RBOW) is the undisputed star of this collection. Introduced in 2012, this model quickly became a favorite among collectors due to its dazzling sapphire-set bezel. The current generation, reintroduced in 2026, features an updated in-house movement (Caliber 4131) and a refined case. This particular piece boasts an 18-karat gold case, a bezel set with 36 baguette-cut sapphires in a vivid gradient, diamond-set lugs, a black lacquer dial with matching colored gemstone hour markers, and a gold Oyster bracelet.
First State Auctions founder, Ari Taibel, highlighted the significance of this auction, stating, ‘The collector approached us directly, citing our record-breaking Patek Philippe sale in late 2026, which went for $450,000, the highest price for a single watch at auction in Australia. We expect the Daytona ‘Rainbow’ to surpass that significantly.’
A Diverse Collection of Luxury Timepieces
The auction will feature a diverse range of luxury watches, each with its own unique appeal. Among the highlights are a diamond-set Richard Mille 016 estimated to sell for $130,000 to $150,000, and a rose-gold Audemars Piguet Royal Oak estimated to sell for $75,000 to $85,000. The collection also includes rare models such as the Rolex SubmarinerDatejust and GMT-Master II.
Ari Taibel emphasized the unprecedented nature of this collection, noting, ‘A single-vendor collection of this scale and value hasn’t been seen in Australia before. With bidding open online, we’re expecting strong interest from collectors across the world.’
The Auction Details
The auction will take place in two phases. The first auction will run from July 12 to 19, 2026, followed by the second auction from July 19 to 26, 2026. Both auctions will be conducted online, allowing collectors from around the globe to participate.
This event marks a significant milestone in the Australian auction scene, showcasing the growing interest in luxury timepieces. The combination of rare and highly sought-after watches, along with the historical context provided by First State Auctions, makes this auction a must-watch for watch enthusiasts and collectors alike.
