Geneva, Switzerland — A unique 1999 platinum Rolex Daytona featuring a mother-of-pearl dial adorned with diamond hour markers is set to go under the hammer this Sunday at Sotheby’s. This extraordinary timepiece, one of only four known to exist, is expected to fetch as much as $1.7 million at auction.
Crafted from platinum—a material Rolex only introduced to its Daytona models in 2013—the watch stands out as a highly coveted collector’s item. Its face is elegant, showcasing 10 diamonds that elevate its luxurious appeal. Unlike most of Rolex’s standard collections, this watch was custom-ordered, a rare feat for the brand.
Pedro Reiser, Sotheby’s senior watch specialist, emphasized the significance of such commissioned pieces in the Rolex world. “It’s quite uncommon to encounter a commissioned Rolex,” he noted, contrasting it with other brands known for their flexibility in design. “In the realm of Rolex, these bespoke creations are nearly unheard of.”
Only a limited number of these watches were produced for a single family, each featuring a distinct dial design. The auctioned piece is particularly remarkable as it is the last of the quartet to be sold, with previous models in this series fetching prices exceeding $3 million.
The timeframe for the watch’s creation coincides with a pivotal era for Rolex, specifically under the leadership of CEO Patrick Heiniger from 1992 to 2008. This period was characterized by significant growth and an air of secrecy that transformed Rolex into a global luxury powerhouse. While some enthusiasts speculate that Heiniger may have commissioned or even worn a similar model, Reiser advises caution regarding these claims, labeling them more as rumors than facts.
The introduction of a platinum Daytona in 1999 raises questions about its lineage, particularly since Rolex formally launched platinum models only in 2013. Reiser highlighted, “At that time, the Daytona line was primarily available in stainless steel and gold varieties, making this platinum model a remarkable historical exception.”
What makes this particular watch even more special is its diamond-set dial, a feature not shared by its siblings. The other three watches in this unique set have dials made of materials such as dark mother-of-pearl, lapis lazuli, and turquoise, but none include diamonds.
The rising interest in rare timepieces, especially among affluent collectors and younger individuals, has driven up the value of luxury watches. A recent report from Knight Frank indicates that the value of high-end watches has surged by over 125% in the past decade, ranking them among the top luxury investments alongside rare whisky and premium designer furniture. Despite a slight decline in growth, the five-year appreciation rate of 52.7% underscores the enduring appeal of watches as reliable long-term investments.
The landscape of watch collecting is expanding, with an increasing number of international buyers and younger generations entering the market, adding further excitement surrounding this auction. The upcoming sale of the platinum Daytona will undoubtedly captivate collectors eager to own a piece of horological history.