The First Rainbow: A Historic Rolex Daytona Set to Make History
A 1990s Rolex Daytona Rainbow emerges after decades of mystery: this pioneering masterpiece redefines the fusion of sport and luxury
Less than two weeks to go until the Reloaded: The Rebirth of Mechanical Watchmaking, 1980-1999 auction on November 8, 2024, where Phillips will auction a piece that promises to make history. This is the very first Rolex Daytona "Rainbow," a unique specimen that predates the modern version unveiled at Baselworld in 2012 by nearly two decades. This timepiece, shrouded in mystery, is a genuine piece of horological history that enthusiasts were unaware of until Phillips surprised everyone by offering it at auction. This unique Daytona was commissioned for a client in the Middle East and remained hidden for years in a prestigious private collection, fueling rumors and legends about its existence.
The reference number is 16599SAAEC, where “SAAEC” translates to “Sapphire Arc-en-Ciel” in French, meaning “Rainbow Sapphire.” Starting with the arrangement of the rainbow on the bezel, we note that the color sequence is inverted compared to more recent Rainbow models, further emphasizing its uniqueness. In references from 2012 onward, the gradient begins with red and moves clockwise through shades of yellow, green, light blue, blue, and pink, while in this case, the sequence is exactly the opposite.Enhancing its aesthetics is a diamond pavé dial with blue sapphire hour markers.
We all know the importance of the Daytona Zenith in the history of this model and in watch collecting in general, and the fact that the very first Rainbow created by Rolex features the legendary caliber 4030 only adds to its prestige.
Beyond its technical features, there are other reasons why this Daytona holds such great importance for Rolex. Traditionally, the Daytona line has been associated with motorsports and sporty chronographs. The sports watch was intended to serve strictly for its designed function. With the introduction of this gem-set version, Rolex not only redefined the concept of a luxury sports watch but also anticipated a trend that is now prevalent among various high-end watch brands, offering sporty watches adorned with precious stones. The 16599 thus represents Rolex’s avant-garde capabilities and foresight, qualities that have led the brand to become the most popular in the world.
Looking at modern models, it is clear how the legacy of the "Rainbow" ref. 16599 has influenced the entire luxury watch sector. The fusion of aesthetics and functionality has made the Rainbow series an icon of the Rolex brand. This original model, with its unique features and exclusive history, marks the starting point of a trend that continues to define the luxury watch market.
For all these reasons, Phillips has estimated its value at CHF 3,000,000. There is a strong possibility that this watch could enter the top 10 of the most expensive Rolexes ever sold.
