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efore paying a premium for a named RM 11-03 edition, check how many comparable watches are actually priced for sale, and what the price history of that edition shows.
On Chrono24 on 25 September 2026, all three named editions were asked well above a standard titanium RM 11-03, whose median ask was A$332,251. The McLaren’s median ask was about 57 per cent higher across ten priced listings; the Ultimate’s two priced listings were 82 and 93 per cent higher; the Last Black’s single priced listing was 82 per cent higher.[1] Only the McLaren premium has depth behind it, and only the McLaren has its own Chrono24 price history.[3][4]
Every figure here is an asking price or Chrono24’s estimated value, not a completed sale. They show where the market is priced; how much weight each deserves depends on how many watches stand behind it.
Summary
Chrono24 returned 150 RM 11-03 listings in Australian dollars on 25 September 2026: 78 with a price and 72 on request. None was located in Australia.[1] Each listing was assigned to an edition from its own title and reference.
The McLaren has depth: 21 listings, ten priced, from A$481,382 to A$578,659. The Ultimate has five listings and two prices; the Last Black five listings and one price. A standard titanium RM 11-03 has 17 listings and eleven prices, from A$284,453 to A$381,382.[1]
Chrono24’s price history groups the RM 11-03 by case material, so McLaren, Ultimate and other carbon executions share one series. Only the McLaren also has its own, which began in July 2026.[3][4][5]
For an Australian buyer, wrist-watches under tariff headings 9101 and 9102 are duty-free, but GST at 10 per cent and declaration charges apply to an import.[8][9][10]
Asking prices were read from Chrono24’s Australian-dollar listings on 25 September 2026. They exclude shipping, and Chrono24 converts listings priced in other currencies into Australian dollars itself. Price-history figures are Chrono24’s estimated value for a similar model, shown to signed-in Chrono24 users; they are not completed sales and not a valuation of any watch.[2] Re-check: 25 March 2027.
Key takeaways
Who this is for
This article is for Australian collectors who have been quoted a premium for a named RM 11-03 and want to test it. It is particularly relevant to buyers:
- weighing a McLaren, Ultimate or Last Black against a standard titanium example;
- reading Chrono24 listings and its price history for the first time;
- working out how many comparable watches stand behind a quoted price.
It is general information, not a valuation, an authentication or advice about any watch, and it does not replace inspection by a qualified specialist.
How this guide was prepared
Every Chrono24 listing returned for “RM11-03” in Australian dollars on 25 September 2026 was read: 150 listings, 78 priced and 72 on request.[1] Each was assigned to an edition from its own title and reference. Chrono24’s own model grouping was not used for this step, because it files several editions under one model. Two strap-only listings and one RM 011 were excluded. Medians use priced listings only; where a seller lists what appears to be the same watch twice, both listings are counted, as Chrono24 shows them. Price history is Chrono24’s estimated value for a similar model, read for each Chrono24 model that the listings carry.[2] Edition sizes are taken from Richard Mille where it states one. HYPA International’s own listings are not used as evidence.
The RM 11-03 on Chrono24, 25 September 2026
| Execution | Listings (priced / on request) | Asking prices, and against titanium |
|---|---|---|
| McLaren | 21 (10 / 11)[1] | A$481,382 to A$578,659; median A$522,896, about 57 per cent above titanium |
| Ultimate | 5 (2 / 3)[1] | A$605,426 and A$641,843, about 82 and 93 per cent above titanium |
| Last Black | 5 (1 / 4)[1] | A$605,232, about 82 per cent above titanium |
| Jean Todt | 15 (8 / 7)[1] | A$474,088 to A$694,069; median A$488,676, about 47 per cent above titanium |
| Le Mans Classic | 8 (2 / 6)[1] | A$579,436 and A$911,708, about 74 and 174 per cent above titanium |
| Standard titanium | 17 (11 / 6)[1] | A$284,453 to A$381,382; median A$332,251, the baseline |
A premium for a named Richard Mille edition is only as real as the number of comparable watches priced at that level. This article reads every RM 11-03 listed on Chrono24 on one day, and Chrono24’s own price history, to show how much stands behind each premium in the title.
What Chrono24 shows, and what it does not
Chrono24 gives two kinds of figure. A listing carries a seller’s asking price, converted into Australian dollars by Chrono24 where the seller prices in another currency. Its price-history chart, headed “Performance of a Similar Model” on a listing page, shows Chrono24’s estimated value for that model over time, with a range around it.[1][2] Neither is a record of what a buyer paid.
The chart is grouped by Chrono24 model, and Chrono24 files the RM 11-03 largely by case material. McLaren, Ultimate, Jean Todt and plain carbon listings carry the same Chrono24 model, so its carbon series mixes them. Only the McLaren also has a model of its own.[3][4][5] That is why each edition below is identified from the listing’s own title and reference.
The McLaren: the premium with depth
Richard Mille’s page for the RM 11-03 McLaren describes a case in Carbon TPT interlaced with Orange Quartz TPT and states a limited edition of 500 timepieces, released in 2018.[7] HYPA’s McLaren page describes the reference; no HYPA price is used in this article as evidence of what the market pays.
On 25 September 2026, Chrono24 carried 21 McLaren listings, ten of them priced, from A$481,382 to A$578,659. The median ask, A$522,896, is about 57 per cent above the titanium median of A$332,251.[1] Two pairs of priced listings share a title and a price, so each pair may be one watch listed twice.[1]
Chrono24’s McLaren-only price history began in July 2026 at A$545,327, held that figure until the third week of August, and fell to A$498,824 in the last week of August. Its latest weekly figure before 25 September was A$498,387.[4] Against Chrono24’s September 2026 estimate for a titanium RM 11-03, A$332,940, that is about 50 per cent higher.[3][4]
Verdict: the one named premium backed by a spread of prices and a price history of its own. On asks it is about 57 per cent; on Chrono24’s estimates about 50 per cent.
The Ultimate: two asks
Chrono24 carried five listings for the Ultimate Edition, two of them priced: A$605,426 and A$641,843, about 82 and 93 per cent above the titanium median. The other three were on request.[1] One listing title describes the Ultimate as Carbon TPT with turquoise Quartz TPT, limited to 200 pieces; Richard Mille’s RM 11-03 page lists no limited editions, so the figure is a seller’s statement.[1][6]
Chrono24 has no price history for the Ultimate alone: its listings sit under the general carbon RM 11-03 model, with the McLaren and others.[5]
Verdict: two asking prices and no edition history. The premium is asked, not shown.
The Last Black: one ask
Chrono24 carried five listings for the Last Black Edition, reference RM11-03 Ti TZP. Four were on request; the one priced listing asked A$605,232, about 82 per cent above the titanium median.[1] None of the five states an edition size, and Chrono24 has no price history for the Last Black alone.[1]
Verdict: a single asking price. Whether the market pays that level is not shown by the evidence available here.
A premium is only as strong as the number of comparable watches priced at it.
The standard titanium baseline
Chrono24 carried 17 listings for a standard titanium RM 11-03, eleven priced, from A$284,453 to A$381,382, with a median of A$332,251.[1] HYPA’s titanium page describes the reference; its price is not used here.
Chrono24’s estimated value for the titanium RM 11-03 shows how much the baseline itself has moved. It stood at A$187,922 in July 2018 and was unchanged for its first year, a sign of thin data. By July 2022 it was A$551,283; by January 2026 A$285,535; in September 2026 A$332,940.[3] A premium quoted over “standard” in 2022 was measured against a titanium estimate about 66 per cent higher than September 2026’s.[3]
Verdict: the best-evidenced figure in the article, and a moving one. Date it before comparing a premium to it.
What the price history can and cannot tell you
Chrono24’s pooled carbon RM 11-03 series, which mixes the McLaren, Ultimate, Jean Todt and other carbon executions, fell from A$634,692 in February 2025 to A$440,103 in September 2026, about 31 per cent.[5] Because it mixes editions, it cannot say whether any one of them fell.
Flat stretches need care. Chrono24’s Le Mans Classic series held at exactly A$789,090 from February 2025 to June 2026, then showed A$583,645 in July 2026.[5] An estimate that does not move for 17 months most likely reflects no new comparable listings rather than a steady market; the step that follows it is the first new information.
Where edition sizes come from
Richard Mille states 500 for the McLaren on its own page.[7] Its page for the RM 11-03 lists no limited editions.[6] On Chrono24, listing titles describe the Jean Todt and the Le Mans Classic as 150 pieces and the Ultimate as 200; those are sellers’ statements.[1] Where a seller quotes scarcity as the reason for a premium, ask which of those sources the number came from.
Australian landed cost
None of the 150 listings was located in Australia, so buying any of them means importing it.[1] Goods valued over A$1,000 need an import declaration.[11] Every subheading of tariff headings 9101 and 9102, which cover wrist-watches, carries a “Free” rate, although a strap or bracelet imported on its own under 9113.90.00 carries 5 per cent.[8] GST is 10 per cent of the customs value plus any duty and international transport and insurance.[9] For a consignment of A$10,000 or more, an electronic import declaration attracts a processing charge of A$152 and, by air, a biosecurity charge of A$48.[10] Chrono24’s asking prices exclude shipping. HYPA’s guide to buying a Richard Mille overseas or in Australia works through the full calculation.
The seller question
The ACCC states that most consumer guarantees do not apply to a one-off sale between two people where the seller is not running a business, although title, undisturbed possession and no hidden debts or charges are still guaranteed.[12] It also states that consumers “are not covered by the Australian Consumer Law if the business doesn’t directly offer their products and services in Australia”, for example when a product is sent to an overseas address and then forwarded.[13] HYPA’s guide to buying a pre-owned Richard Mille in Australia covers the seller question in more depth.
Questions to ask the seller
01How many comparable watches are priced at this level?
A premium backed by ten priced listings is a different claim from one backed by a single ask.[1]
02Which edition is this, exactly?
The full reference and suffix, such as RM11-03 Ti, RM11-03 MCL CA-FQ or RM11-03 Ti TZP, against the listing and the papers.[1]
03What is the baseline, and when was it measured?
A premium over a titanium RM 11-03 depends on the titanium figure used; Chrono24’s estimate for it has moved from A$551,283 to A$332,940 since July 2022.[3]
04What will it cost landed, and who is the legal seller?
Price, shipping, transport insurance, GST and declaration charges; and whether the seller is a business, and where.[9][10][13]
Buying through HYPA
HYPA International is an independent dealer and is not an authorised Richard Mille retailer. It is a registered Victorian second-hand dealer, Registration No. SHD-0018017, based in Melbourne.[14][15] Every watch HYPA sells is inspected before sale by an expert watchmaker engaged by HYPA, condition and inclusions are stated on each watch’s page, and anything found is disclosed before the watch ships.[14] Payment is by bank transfer, and selected watches can be inspected by private appointment in Melbourne; see What you receive when you buy from HYPA.[15][16]
For an execution not listed, HYPA states that clients can provide the reference and specification they are seeking, and it assesses what is realistically available; see How HYPA sources a reference you cannot find.[17] To discuss a specific RM 11-03, contact HYPA.
Common mistakes
The Last Black’s premium on Chrono24 rests on a single priced listing; four of its five listings were on request.[1]
Chrono24’s chart is its estimated value for a similar model, not a record of what anyone paid.[2]
Chrono24’s carbon RM 11-03 series mixes the McLaren, Ultimate and other carbon executions, so its 31 per cent fall since February 2025 describes none of them in particular.[5]
Chrono24’s titanium estimate was A$551,283 in July 2022 and A$332,940 in September 2026.[3]
Wrist-watches under headings 9101 and 9102 are duty-free; GST, the processing charge and the biosecurity charge still apply.[8][9][10]
Before you agree a price
Frequently asked questions
Which RM 11-03 edition premiums are real?
On Chrono24 on 25 September 2026, all three named editions were asked well above a standard titanium RM 11-03, whose median ask was A$332,251. The McLaren’s median ask was about 57 per cent higher across ten priced listings; the Ultimate’s two priced listings were 82 and 93 per cent higher; the Last Black’s single priced listing was 82 per cent higher.[1] Only the McLaren premium has depth behind it, and only the McLaren has its own Chrono24 price history.[3][4]
How much is a Richard Mille RM 11-03 McLaren?
On 25 September 2026, Chrono24 carried 21 McLaren listings, ten priced, from A$481,382 to A$578,659, with a median of A$522,896.[1] Chrono24’s estimated value for the McLaren was A$498,387 in its latest weekly figure.[4] These are asking prices and an estimate, not sale prices, and they exclude shipping.
How much is an RM 11-03 Ultimate Edition?
On 25 September 2026, two of the five Ultimate listings on Chrono24 were priced, at A$605,426 and A$641,843; three were on request.[1] Chrono24 has no price history for the Ultimate alone.[5]
How much is an RM 11-03 Last Black?
On 25 September 2026, one of the five Last Black listings on Chrono24 was priced, at A$605,232; four were on request.[1] Chrono24 has no price history for the Last Black alone, so one asking price is the only priced evidence.
What does a standard titanium RM 11-03 cost?
On 25 September 2026, eleven of 17 titanium listings on Chrono24 were priced, from A$284,453 to A$381,382, with a median of A$332,251.[1] Chrono24’s estimated value for it was A$332,940 in September 2026.[3]
Has the RM 11-03 gone up or down in value?
It depends on the execution. Chrono24’s titanium estimate rose from A$187,922 in July 2018 to A$551,283 in July 2022, fell to A$285,535 by January 2026 and stood at A$332,940 in September 2026.[3] Its pooled carbon series fell about 31 per cent between February 2025 and September 2026.[5]
Is Chrono24’s price history a sale price?
No. Chrono24 describes its Watch Collection figure as a current estimated value.[2] It is Chrono24’s estimate for a similar model, and a stretch where it does not move usually means no new comparable data.
Do I pay customs duty importing a Richard Mille into Australia?
No. Under Chapter 91 of the current Australian tariff, every subheading of headings 9101 and 9102, which cover wrist-watches, carries a “Free” rate.[8] A strap or bracelet imported on its own can attract 5 per cent.[8] GST at 10 per cent, the import processing charge and a biosecurity charge still apply.[9][10]
Sources and references
- [1] Chrono24 — search results for “RM11-03”, Australian-dollar prices, 150 listings, read 25 September 2026
- [2] Chrono24 — Watch Collection: “Find out the current estimated value of your watches and monitor their performance”
- [3] Chrono24 — price history (“Performance of a Similar Model”), RM 11-03 titanium, July 2018 to September 2026; shown to signed-in users on titanium RM 11-03 listings
- [4] Chrono24 — price history, RM11-03 MCL CA-FQ (McLaren), July to September 2026; shown to signed-in users on McLaren listings
- [5] Chrono24 — price history, RM 11-03 carbon (pooled) and RM11-03 CA ATZ (Le Mans Classic); shown to signed-in users on those listings
- [8] Australian Border Force — Current tariff, Schedule 3, Chapter 91
- [9] Australian Border Force — GST and other taxes
- [10] Australian Border Force — Import processing charge (including biosecurity import declaration charges)
- [11] Australian Border Force — Import declarations
- [12] Australian Competition and Consumer Commission — Consumer rights and guarantees
- [13] Australian Competition and Consumer Commission — Buying online
Eden John founded HYPA International in Melbourne and works across buying, selling and sourcing for collectors and private clients in Australia and internationally.
Every watch HYPA offers is assessed for authenticity, condition, provenance and completeness before sale; the same standard is applied to a watch it is offered.
