Rare Rolex watch up for auction at $1.7M

A rare Rolex watch, crafted by the renowned Swiss manufacturer based in Geneva, is set to be auctioned for approximately $1.7 million.

1999 Platinum Rolex Daytona at $1.7M

The custom-made 1999 Platinum Rolex Daytona is up for auction at Sotheby’s on May 11, with an estimated value of approximately $1.7 million. Notably, the watch is one-of-a-kind and was never sold commercially.

This rare watch was exclusively made by Rolex and was not commercially available until 2013. Only four versions of the Platinum Rolex Daytona were custom-made by Rolex for private family commissions. The 1999 Platinum Rolex Daytona is the fourth and final piece to be offered at auction.

The watch is made from platinum, mother-of-pearl, and 10 diamonds. Pedro Reiser, senior watch specialist at Sotheby’s, stated: “It’s very unusual to come across a commission. There are other brands which might be more flexible and do these kinds of exercises, maybe on a regular basis — but not in the space of Rolex pieces where you barely can come across any commission whatsoever.”

It is worth mentioning that rare watches like Rolexes are increasingly seen as valuable assets across generations. According to Knight Frank LLP, a global real estate consultancy, rare watches have seen a total value growth of approximately 125% over the past 10 years and are now considered one of the top-performing luxury investments.