A jaw-dropping piece of horological history is about to hit the auction block, and watch collectors worldwide are holding their breath. A one-of-a-kind 1999 platinum Rolex Daytona-custom-made and never commercially sold-is heading to Sotheby’s Geneva auction on May 11, with experts predicting it could fetch an eye-watering $1.7 million.
The Unicorn of Luxury Watches
This isn’t just any Rolex-it’s practically a unicorn in the watch world. Featuring a stunning platinum case paired with a luminous mother-of-pearl dial set with ten diamonds, this reference 16516 timepiece is the stuff of collector dreams. What makes it truly extraordinary? Rolex didn’t officially produce platinum Daytonas until 2013, making this 1999 special commission a true anomaly in the brand’s history.
The watch houses the legendary Zenith El Primero automatic chronograph movement (aka the “Zenith Daytona”), representing a fascinating era before Rolex transitioned to in-house movements for their iconic chronograph line.
The Secret Commission That Shocked the Watch World
Here’s where the story gets even juicier-this platinum beauty is one of only four ever made, all commissioned by a single mysterious private collector between 1998 and 1999. For a brand famously resistant to creating custom pieces, this ultra-rare commission represents an extraordinary exception that has fascinated collectors for years.
The existence of these watches was considered almost mythical until they began appearing at auctions. The first sold for $871,000 in 2018, while subsequent sales have reached astronomical heights-including a lapis lazuli dial version fetching $3.2 million in 2020 and a turquoise dial model achieving $3.1 million in 2021.
This mother-of-pearl and diamond version is the final piece from this legendary commission to hit the market, making this auction truly a once-in-a-lifetime event.
Auction Fever Builds
Bidding at Sotheby’s Important Watches auction will start at $800,000, but experts believe the final hammer price could reach twice that amount. Positioned as the prestigious final lot (126) in the sale, Sotheby’s has described it as “one of the rarest Rolex watches ever made.”
Why Watches Are the New Stock Market
The platinum Daytona’s appearance comes amid a boom in luxury watches as investment assets. The market has seen prices surge more than 125% over the past decade, driven by younger buyers and international demand.
Surprisingly, 54% of Gen Z already own at least one luxury watch, with many viewing these mechanical masterpieces as serious investments rather than mere accessories. According to Boston Consulting Group, a staggering 95% of watches are no longer purchased solely for timekeeping but as investments or collectibles.
With limited supply and growing global interest, these ticking treasures have transformed from wrist candy into legitimate alternative assets-and this platinum Daytona represents the pinnacle of horological investing.
