One-of-a-Kind Platinum Rolex Daytona Could Fetch $1.7 Million at Sotheby’s Geneva Auction

In the rarefied world of high horology, few timepieces generate as much intrigue as those created outside a brand’s standard production line. This weekend, one such watch is set to go under the hammer at Sotheby’s Geneva—a 1999 platinum Rolex Daytona—and it could sell for up to $1.7 million.

What makes this watch exceptional is not only its material composition but its origin story. Custom-ordered for a private client, the platinum Daytona was never part of Rolex’s commercial catalog. The Swiss watchmaker only began publicly offering platinum Daytonas in 2013, making this earlier model a historic anomaly.

Commissioned, Not Commercial

“This piece is among the rarest Rolexes ever created,” said Pedro Reiser, senior watch specialist at Sotheby’s. “Rolex is not known for accepting private commissions, and this is one of just four such Daytonas ever produced—all made for a single family.”

The watch, believed to be the last available from the original set of four, boasts a mother-of-pearl dial adorned with 10 diamond hour markers, distinguishing it even from its rare siblings, which featured lapis lazuli, turquoise, and dark mother-of-pearl dials, but no diamonds.

Adding to the mystery, the creation is speculated to have occurred during the tenure of Patrick Heiniger, Rolex’s CEO from 1992 to 2008. Heiniger was known for his affinity for platinum watches—primarily Day-Date models—but whether he commissioned or wore a similar Daytona remains unconfirmed folklore.

“It’s a nice story that accompanies the watch, but I think it’s more of a myth,” Reiser said.

Pre-2013 Platinum Makes It Historic

At the time of its creation, Rolex’s Daytona line was only offered in stainless steel, yellow gold, and white gold. The fact that this piece exists in platinum, using the Zenith El Primero-based movement—which Rolex discontinued in 2000—makes it even more valuable to collectors.

“This is the only known platinum Zenith Daytona,” Reiser confirmed, referring to the movement sourced from Zenith that powered Daytonas from the late 1980s through the late 1990s. “That in itself is historic.”

The Boom in Watch Investments

This rare Daytona’s estimated price is bolstered by broader trends in the luxury investment market. According to Knight Frank’s Wealth Report, luxury watches have seen a 125% increase in value over the past decade, ranking them among the top-performing alternative assets, just behind rare whisky and fine furniture.

Though price growth has cooled somewhat—up only 1.7% in the past year—the category remains strong with a five-year growth rate of 52.7%. Demand is also widening demographically, with a noticeable surge in under-30 collectors and international buyers entering the fray.

“This piece sits at the intersection of horological history and modern-day investment,” Reiser noted. “Collectors aren’t just buying art for the wrist anymore—they’re buying long-term assets.”

Sotheby’s Prepares for a Bidding War

As the auction approaches, excitement is palpable among collectors and connoisseurs. The three previously sold Daytonas from this custom set fetched well above expectations, with one reportedly exceeding $3 million. With its diamond-set dial and final-piece status, the fourth watch could follow suit.

“This is more than a timepiece,” Reiser said. “It’s a once-in-a-lifetime opportunity to own a chapter of Rolex history that was never meant for public eyes.”

The auction will take place Sunday, May 11, at Sotheby’s Geneva, where all eyes will be on a 38-millimeter icon that may redefine the upper ceiling for custom vintage Rolex models.