The 1998 Cosmograph Daytona, Ref.16516, with a mother-of-pearl dial set with 10 diamonds, will be at the top of the auction house's sale of important watches on May 11 in Geneva. It is estimated to sell for between $850,000 and $1.7 million.
The unique watch was created around 1998. It is made of platinum. A «special» exception for a Daytona automatic at the time, Sotheby's said.
For decades, the model, first introduced in 1963, was only available in stainless steel. Also two-tone steel and gold, yellow gold and white gold. It wasn't until 2013 that the brand began creating platinum versions to celebrate the 50th anniversary of the Daytona.
This model also features the Zenith El Primero movement, another unique feature.
Daytonas with Zenith engine were in production for 12 years. From 1988 - when the brand launched the first automatic Daytona - until 2000, when Rolex added the in-house chronograph movement (Caliber 4130) to the model.
Sotheby's calls the specialised watch «one of the rarest and most fascinating automatic Daytonas ever discovered». As Rolex famously does not make limited editions by special order.
The watch is the last of four platinum Daytona watches ordered in one order from the same private collector. Each was created between 1998 and 1999, and will be auctioned off.
Each of the four special order watches has the same reference number 16516. The last digit of which (6) refers to the use of platinum, a first for any Daytona.
Although it remains unconfirmed, many speculate that Patrick Heiniger, Rolex's CEO from 1992 to 2008, ordered the watches, Sotheby's said. The executive was rumoured to have been seen wearing a platinum Daytona automatic before they were mass-produced.
The other three in the series had previously sold above their estimates at Sotheby's.
One of these with a dark mother-of-pearl dial sold for $871,000 in 2018. One with a lapis lazuli dial set a world record, Sotheby's said.
It was sold for HKD 25,375,000 ($3.2 million). From an initial estimate of HKD 4 to 8 million (about HKD 516,000 to 1 million dollars), at the Hong Kong auction house sale in 2020. And another with a turquoise dial achieved HKD 24,375,000 (3.1 million dollars) in 2021.
“It is a privilege for Sotheby's to bring this remarkable wristwatch to the market for the first time. A milestone in the history of the Cosmograph Daytona. Its rarity, its provenance and its exceptional quality of manufacture make this 1999 Cosmograph Daytona, Ref.16516, with a diamond mother-of-pearl dial, one of the most important examples ever presented at auction,” said Benoît Colson, Head of Watches at Sotheby's Geneva.
«It is also an excellent finale to the sale of this outstanding commission of four masterpieces. Three of which have already found new homes through previous Sotheby's sales.».
The watch is the only one of the four that is decorated with diamonds. It is also accompanied by its certificate and accessories.
More information about the Important Watches is available on the Sotheby's website.
Source: nationaljeweler.com
