Ultra-Rare 1999 Platinum Rolex Daytona Set to Hit Sotheby’s
An ultra-rare Rolex Daytona crafted in 1999 is set to go under the hammer at Sotheby’s Geneva today (May 11), with bidding expected to reach up to $1.7 million. What sets this particular Rolex apart is its construction from platinum, a material not used in the Daytona collection until 2013. This watch was never sold to the public and is one of only four ever made, commissioned privately for a single family.
Rolex images courtesy of Sotheby's
Unlike traditional Rolex offerings, which are manufactured on a mass scale, this platinum Daytona was created as a custom order. Each of the four watches in the family set featured a different dial design, making them distinct within an already limited run. This final piece to be auctioned boasts a mother-of-pearl dial set with 10 diamonds, making it the only one in the group to include gem-set hour markers.
The auction can be found here.
A Hidden Chapter in Rolex History
This exceptional timepiece dates back to the tenure of Patrick Heiniger, who served as Rolex CEO from 1992 to 2008. During his leadership, Rolex underwent significant transformation and global expansion. While there have been rumors that Heiniger may have commissioned or worn a similar model, no confirmed connection exists between him and this particular watch.
Pedro Reiser, a senior watch specialist at Sotheby’s, notes that custom commissions are virtually unheard of at Rolex. While other luxury brands occasionally entertain bespoke orders, Rolex has long maintained a policy of strict production control. The emergence of a custom Daytona, especially one crafted in platinum well before the model officially debuted in that material, is an extraordinary event.
Adding to its mystique, this Daytona features a dial layout unlike any other in the known set. While the remaining three watches include dials made from materials such as lapis lazuli and turquoise, only this one includes diamond accents, making it a standout even among its siblings.
Luxury Watches Surge in Popularity Among Global Investors
The high-stakes auction of this Rolex Daytona reflects a larger trend: the booming market for luxury watches as investment assets. Over the past decade, the value of rare timepieces has skyrocketed. According to Knight Frank’s Luxury Investment Index, watches have appreciated by more than 125%, ranking them among the most lucrative categories of collectables, trailing only fine whisky and rare designer furniture.
Even with the luxury market experiencing a slight cooldown, watches have continued to perform well. Prices rose 1.7% in the past year alone, and five-year growth remains strong at 52.7%. This steady performance has drawn attention from younger investors and international buyers eager to diversify their portfolios.
Reiser highlights the shift in buyer demographics. More collectors under 30 are entering the market, often viewing rare watches as both wearable art and appreciating assets. The global appeal of Rolex, combined with the uniqueness of this platinum Daytona, makes it a prime target for collectors looking to own a truly one-of-a-kind timepiece.
Why This Rolex Could Break Records
Rolex did not publicly release a platinum Daytona until 2013, making this 1999 example a true anomaly in the brand’s history. Prior to that year, Daytona models were only available in stainless steel, yellow gold, or white gold. The 1999 platinum version, powered by a Zenith-based movement, represents a hidden chapter in Rolex’s evolution, a moment when innovation occurred behind closed doors.
The rarity of a commissioned Rolex, especially one with this level of craftsmanship and provenance, places it among the most desirable watches ever produced by the brand. With the last of the four-watch family set now being offered, collectors have one final opportunity to own a unique piece of Rolex history.
Link to the auction: https://www.sothebys.com/en/buy/auction/2025/important-watches-part-i-ge2501/daytona-reference-16516-a-unique-platinum
