A uncommon 1999 platinum Rolex Daytona that includes a mother-of-pearl dial with diamond hour markers — one among solely 4 recognized to exist.
Courtesy of Sotheby’s
A legendary timepiece is about to step into the highlight.
A 1999 platinum Rolex Daytona is heading to public sale on Sunday at Sotheby’s Geneva, and will promote for as much as $1.7 million.
The watch is produced from platinum, a cloth Rolex didn’t use on Daytona fashions till 2013. Its face is mother-of-pearl, set with 10 diamonds. In contrast to practically each different Rolex in the marketplace, it was not a part of an ordinary assortment. It was privately commissioned, custom-made for a consumer — one thing virtually extraordinary for Rolex.
“It’s extremely uncommon to return throughout a fee,” stated Pedro Reiser, senior watch specialist at Sotheby’s. “There are different manufacturers which could be extra versatile and do these sorts of workout routines, possibly frequently — however not within the area of Rolex items the place you barely can come throughout any fee in any respect.”
Solely 4 of those watches are recognized to exist, made for a similar household, every with a distinct dial. The watch heading to the public sale block is the final one to be bought. The others have already gone for large costs, topping $3 million.
There’s large hype round this small work of steel. It’s believed to have been created beneath the management of Patrick Heiniger, Rolex’s CEO from 1992 to 2008. He ran the corporate throughout a time of main progress and secrecy and helped flip Rolex from a revered watch model into a world luxurious icon.
Whereas rumors have swirled that Heiniger personally commissioned or wore an identical platinum Daytona, Reiser cautions that there is no such thing as a confirmed hyperlink to this watch.
“That is extra of a rumor,” Reiser stated. “Personally, I’ve by no means seen him with this piece, however I do know that he used to like platinum watches — primarily Day-Date fashions. It is a good story that accompanies the watch, however I feel it is extra of a fable.”
The truth that Rolex made a platinum Daytona in 1999, lengthy earlier than it launched platinum fashions publicly in 2013, is a serious a part of the watch’s mystique.
“Again then, they solely existed in stainless-steel, yellow gold and white gold,” Reiser stated. “Having a platinum — the one recognized platinum Zenith Daytona — may be very particular.”
Rolex did not start producing platinum Daytonas till 2013, making this 1999 custom-ordered timepiece a historic anomaly within the model’s legacy.
Courtesy of Sotheby’s
This explicit mannequin stands aside even from its siblings.
“That is the one one which has a diamond-set dial,” Reiser stated. “The others had darkish mother-of-pearl, lapis lazuli and turquoise stone dials, however no diamonds.”
As extra folks, particularly rich collectors and youthful patrons, more and more see uncommon watches as investments, the costs of those uncommon timepieces have climbed.
In accordance with Knight Frank’s newest index, watches have jumped greater than 125% in worth over the previous decade, rating them among the many top-performing luxurious investments, simply behind uncommon whisky and high-end designer furnishings. Even after a slight cooling, with costs rising just one.7% over the previous 12 months, the five-year progress fee for watches of 52.7% alerts the class stays a dependable long-term play.
Demand has solely broadened, with extra worldwide patrons and a wave of under-30 collectors getting into the market, Reiser stated.
