Phillips Watch Auction: Rolex’s First Rainbow Daytona

Watch Auction: The Historical Significance of Rolex’s First Rainbow Circle Daytona

The Swiss watchmaking industry experienced a rebirth in the 1980s and 1990s, a period that witnessed the combination of creative design and exquisite craftsmanship. The international auction house Phillips will hold a themed auction titled “Reloaded: The Rebirth of Mechanical Watchmaking, 1980-1999” in Geneva on November 8, featuring timepieces that gained attention between 1980 and 1999. Among the most notable items is the Rolex model 16599 “Rainbow Daytona” watch, estimated to fetch up to HKD 27.5 million (over CHF 3 million).

This watch is the first “Rainbow” Rolex Daytona in history, featuring a unique gradient rainbow bezel that displays a color transition from red, orange, yellow, green, blue, indigo, to violet in a counterclockwise direction. It is powered by the Zenith El Primero movement, making it a rare gem among contemporary timepieces.

Additionally, the auction will feature the first watch by independent watchmaker François-Paul Journe, the “Tourbillon Souverain à Remontoire d’Egalité,” with an estimated value of HKD 18.8 million. These auction items not only hold immense market value but are also highly regarded for their historical significance as “firsts.”

Recently, Chanel has expanded its watch business by acquiring a 25% stake in the independent watch brand MB&F, demonstrating its firm commitment to high-end watchmaking. Since entering the watchmaking industry in 1987, Chanel has made several strategic acquisitions, and future collaborations with MB&F are highly anticipated.

As the auction date approaches, these unique watches will become the focus of attention for collectors and enthusiasts, especially for watch fans in Hong Kong, as this is undoubtedly a rare opportunity.