Limited Edition Richard Mille Up-01 An Ultra-Thin Titanium Wristwatch, Made in Collaboration with Ferrari Commands Top Price at HK$8 Million
Hong Kong – Bonhams Hong Kong Watches auction on 23 May achieved a remarkable 90% sell-through rate, driven by spirited bidding. Leading the sale was the Richard Mille UP-01, an Innovative, Rare and Brand-New Limited Edition Ultra-Thin Titanium Wristwatch, Made in Collaboration with Ferrari, circa 2024, which realised HK$8,005,000—underscoring the market’s appetite for innovation and cutting-edge watchmaking.
Sharon Chan, Head of Department, Director of Watches, Asia, commented:“We are delighted with the solid results of today’s auction. The exceptionally strong sell-through rate underscores Bonhams’ expert curation and the market’s growing demand for exceptional timepieces. From racing-inspired designs that push the boundaries of watchmaking to single-owner collections with impeccable provenance, this sale reflects what matters most to collectors: rarity, craftsmanship, and bold innovation. Ultimately, timepieces with distinctive and enduring appeal continue to define success in today’s market.”
The top lot—Richard Mille UP-01, an Innovative, Rare and Brand New Limited Edition Ultra-Thin Titanium Wristwatch, Made in Collaboration with Ferrari, circa 2024—achieved HK$8,005,000 (estimate: HK$6,400,000–11,000,000). An ultra-thin timepiece that combines cutting-edge technology with exquisite craftsmanship, the UP-01 is a marvel of minimalist design, featuring a sleek and elegant profile that measures just 1.75mm in thickness a feat of meticulous engineering. With only 150 created, the rare design is one of the world’s thinnest timepieces and is also one of the lightest at 2.82 grams.
Two additional racing-themed timepieces also attracted buyers: Audemars Piguet, Royal Oak Concept Laptimer Michael Schumacher, Ref. 26221FT, circa 2015, achieved HK$1,020,000 (estimate: HK$900,000–2,000,000), and Hublot LaFerrari, Ref. MP-05, circa 2018, realised HK$639,000 (estimate: HK$600,000–1,000,000).
The two single-owner collections also performed strongly with 100% sell-through rate. One featured neo-vintage timepieces, while the other highlighted Piaget’s distinctive stone dials—lapis lazuli, malachite, and meteorite—renowned for their craftsmanship and unique design.
Neo-vintage highlights:
- A Daniel Roth, reference C137BASL, rare yellow gold monopusher chronograph wristwatch, circa 1990, sold for HK$486,400, 4.8 times its low estimate
- A limited-edition Roger Dubuis, Hommage Chronograph, Ref.H40, circa 1998, achieved HK$320,000, more than triple its low estimate
- Vacheron Constantin | Saltarello, Ref.43041/000r-8675, A Limited-Edition Pink Gold Wristwatch With Jumping Hour And Retrograde Minutes, circa 1997, sold for HK$256,000, 2.8 times its low estimate
Piaget highlights:
- A limited-edition, Piaget Altiplano malachite marquetry tourbillon, reference P11485, circa 2018, achieved HK$256,000
- A limited-edition Piaget black tie vintage inspiration, reference P11354, circa 2017, sold for HK$243,200
Other notable results:
- A rare and impressive limited-edition, Patek Philippe Calatrava ‘Mount Everest’, Ref. 5089G-029, circa 2015, achieved HK$956,500
- A Richard Mille limited-edition Bonbon Collection, ‘Lollipop’, Ref. RM37-01, circa 2019, achieved HK$1,909,000
