It is done. Lot 1 has closed and Australia has a new most expensive watch ever sold at auction.
The Rolex Cosmograph Daytona "Rainbow" that we flagged earlier this month as a genuine record threat finished at $510,000 on the hammer, landing inside its $500,000 to $600,000 estimate.
Add First State Auctions' 20% buyer's premium and the winning bidder is committed to $612,000 before customs, duties or anything else.
The previous Australian benchmark was $450,000, set in late 2023 when a 1946 Pate
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