1999 Platinum Rolex Daytona Set for Auction at Sotheby’s
A distinctive timepiece is poised for a prestigious auction at Sotheby’s in Geneva this Sunday. The 1999 platinum Rolex Daytona, notable for its mother-of-pearl dial adorned with diamond hour markers, is expected to sell for as much as $1.7 million.
A Unique Creation
This exceptional watch is crafted from platinum, a material Rolex did not incorporate in Daytona models until 2013. Unlike standard collections, this watch was privately commissioned, making it a rarity in Rolex’s portfolio.
Pedro Reiser, senior watch specialist at Sotheby’s, remarked on the uniqueness of such commissions within the brand: “It’s very unusual to come across a commission.” He emphasized that while some other luxury brands commonly engage in custom orders, Rolex stands apart due to its strict production ethos.
Rarity and Family Legacy
Only four examples of this model are known to exist, all made for the same family but featuring different dials. The piece set for auction is the last of its kind available for sale, as the others have already transacted at impressive prices, exceeding $3 million.
This piece bears historical significance as it was likely produced under the guidance of Patrick Heiniger, Rolex’s CEO between 1992 and 2008, a period marked by the brand’s expansion and increasing global prestige.
Rumors and Mythology
Though speculation surrounds whether Heiniger personally commissioned or wore a similar platinum Daytona, Reiser cautions against drawing definitive connections. “That’s more of a rumor,” he stated, adding that while Heiniger had an affinity for platinum watches, there’s no confirmed link to this specific model.
An Anomaly in Rolex’s History
Rolex’s decision to produce a platinum Daytona in 1999 is significant given that the company did not publicly release platinum models until 2013. As Reiser explained, “Back then, they only existed in stainless steel, yellow gold, and white gold. Having a platinum — the only known platinum Zenith Daytona — is very special.”
Design Distinctions
This model is noteworthy for its diamond-set dial, unique among its companions, which featured dark mother-of-pearl, lapis lazuli, and turquoise dials without diamonds.
Investment Potential
As luxury watches continue to gain traction as investment vehicles, the market for rare timepieces is flourishing. According to Knight Frank’s index, the value of watches has increased by over 125% in the past decade, placing them among the top luxury investments, following rare whisky and high-end designer furniture. Despite a slight deceleration, the five-year growth rate for watches remains at an impressive 52.7%, indicating a promising long-term investment landscape.
Interest in the watch market has broadened, particularly among wealthier individuals and younger collectors, as noted by Reiser, contributing to the rising prices of rare models.