A Watch Dealers Insights into Richard Mille
Nicholas Hickey, managing director at Luxe Watches, has been in the industry for 15 years and has a particular appreciation of Richard Mille timepieces. It’s the exclusivity, aesthetics and sheer craftsmanship that put this brand at the top of his list when it comes to new and pre-worn luxury watch sales. Here he gives his thoughts on his favourite Richard Mille watches and his predictions for the quirky Swiss watchmaker.
Why do you think the brand is so popular?
It’s the cutting-edge technology and creative design that goes into every watch. Richard Mille is a leader in watchmaking when it comes to patenting new materials.
Unlike other high-end watchmakers, the brand veers away from using solely precious metals such as Gold and Platinum, often using Carbon and Titanium for a more lightweight and robust offering. These are fantastic options for sportsmen like Rafael Nadal, who can compete without a weight on their wrist.
What does Richard Mille offer as a luxury brand that others don't?
Exclusivity. Production numbers are extremely low (around 5,000) compared with Patek (60,000) and Rolex (1,000,000). Richard Mille now vets customers prior to sale to ensure potential buyers respect the brand and can afford to own it.
I believe Richard Mille invests in research and development like no other brand. Money-making is key but products are delayed if the brand is not completely satisfied that the craftsmanship is of a superior quality. The RM 11-03 Le Mans Classic is a perfect example. Richard Mille was struggling with production of the white ceramic case made by a third party, so the release was postponed for almost two years until the brand could manufacture it in-house.
Which Richard Mille watch would you love to get your hands on?
I’d love to get hold of the fabulous RM72-01. Its incredible aesthetic design makes it the thinnest Chronograph watch Richard Mille has ever created. The calibre is just 6.05mm thick, despite the watch comprising 425 components.
It’s the movement and performance that impresses me most. The in-house patented flyback chronograph is outstanding but at 30 months to develop it, it’s certainly been worth the effort. The RM72-01 boasts a double oscillating pinion mechanism mounted on rockers, which controls the start, stop, flyback and reset functions. Basically, the chronograph function is separate from the minute and hour functions, meaning each elapsed time register has its own power supply – but the power reserve is 50 hours, whether the chronograph is running or not!
I also love the function indicator which identifies winding, handsetting and neutral positions as the crown is pulled. This was originally used by Richard Mille’s parent company, Audemars Piguet, in the Royal Oak Concept CW1 in 2002.
Which is your favourite Richard Mille watch and why?
Hands down, it’s the RM002 V2 in 18ct Rose Gold because it’s reminiscent of Richard Mille’s first watch, the RM001, which houses a tourbillon calibre and was basically a prototype for the market.
When the RM002 V2 was released it had the nano carbon base plate. It was the first time Richard Mille experimented with carbon in their timepieces and it also paid homage to the original RM001 housing the tourbillon calibre. And of course, featured the Tourneau-shaped case, synonymous with the Richard Mille brand.
What is Richard Mille’s main influence?
Richard Mille is heavily influenced by the car industry, especially Formula One. One of its first ambassadors was Brazilian racing driver, Felipe Massa. The crowns are inspired by car wheels while the rubber around the crown is reminiscent of a tyre. The pushers are often similar to pedals, hence their slogan, “A racing machine on the wrist”.
Which sports star would you like to see signing up with Richard Mille?
It’s difficult to predict but I would like Lewis Hamilton, as he has now surpassed Michael Schumacher’s incredible record. Hamilton is a Tag Heuer ambassador but hopefully Richard Mille can help get him out of the contract!
What do you predict for Richard Mille in the future?
I think the demand for this brand will continue to rise, making prices in secondary markets increase. Richard Mille is totally aware that watches with basic chronograph movements are often sold for almost double the RRP in the grey market.
To preserve the brand, it could focus solely on tourbillon-orientated movements. This will mean production is reduced and lower-priced bracket items no longer exist. An entry level watch could start at £500,000+.
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