The defending champions had been in charge of the final but had to weather a fierce comeback from Hamilton in the final quarter.
In a frenetic final five minutes the lead switched hands and it appeared the game was heading to extra time.
But with the scores locked 53-53 with 10sec remaining, Otago got a long ball into Selby-Rickit. The defender contacted her and she drilled the winner as cool as you like.
She shot well the whole tournament but stepped up in the final, landing 37 of her 39 attempts.
She was well supported by gaol attack Kate Shearer with 17 from 26.
Centre Miaana Walden grabbed a crucial turnover in the dying stages which also proved crucial. Walden and fellow unheralded midcourter Sophie Napper had strong tournaments.
In the playoff for third and fourth, Christchurch made a sluggish start to trail Auckland 18-11 at the first break.
But the pre-tournament favourites rediscovered their touch, picking up plenty of turnover ball to dominate possession and record a comfortable 66-48 victory.
Shooter Juilanna Naoupu showed some of her old flair and accuracy, landing 28 from 34.
For Auckland, former Silver Fern Paula Griffin continued her impressive form, sticking 29 of her 34 attempts. Defender Phoenix Karaka had a strong game, swooping on loose ball and picking off some clean intercepts.
In the days other matches, Otago B beat the Invitation side 47-45, Manawatu beat Counties Manukau 57-48 to finish in ninth place with Wellington demolishing Waitakere 64-31 in the playoff for 7th and 8th .
North Harbour thrashed Southland 69-40 to claim fifth place.
