PANERAI/ROLEX | ROLEX FOR PANERAI: RADIOMIR, REF 3646STAINLESS STEEL DIVER'S WATCHCIRCA 1943

Dial: black matte Calibre: Rolex cal. 618 manual winding, 17 jewelsCase: stainless steel, wire lugs, screw-down crown and backCase number: 260'873Closure: stainless steel Panerai buckle Dimensions: 47mmSigned: case and movement signed Rolex Accessories: two vintage leather straps

DIAL: with traces of use consistent with age and wear of the timepiece. With a large glossy stain to the lower half of the dial, stains to the 3, 6, 9 and 2 o'clock Roman numeral indexes. With traces of oxidation to the periphery of the dial. The luminescent material is displaying a lighter hue than the indexes. CASE: with scuffs and scratches throughout consistent with age and wear of the timepiece. With traces of oxidation and pitting to the back and above the bottom lugs below the dial. The Brevet crown in good condition. With traces of oxidation to the pin buckle. MOVEMENT: working at time of cataloguing The watch has not been tested to determine the accuracy of its timekeeping. Please note that Sotheby's does not guarantee the future working of the movement and that a service may be required at the buyer's discretion.
"In response to your inquiry, we are pleased to provide you with a general report of the condition of the property described above. All dimensions in catalogue descriptions are approximate. Condition reports may not specify mechanical replacements or imperfections to the movement, case, dial, pendulum, separate base(s) or dome. Watches in water-resistant cases have been opened to examine movements but no warranties are made that the watches are currently water-resistant. Please note that we do not guarantee the authenticity of any individual component parts, such as wheels, hands, crowns, crystals, screws, bracelets and leather bands, since subsequent repairs and restoration work may have resulted in the replacement of original parts. Since we are not professional conservators or restorers, we urge you to consult with a restorer or conservator of your choice who will be better able to provide a detailed, professional report. Prospective buyers should inspect each lot to satisfy themselves as to condition and must understand that any statement made by Sotheby's is merely a subjective, qualified opinion. Prospective buyers should also refer to any Important Notices regarding this sale, which are printed in the Sale Catalogue. In particular, please note it is the purchaser's responsibility to comply with any applicable import and export matters, particularly in relation to lots incorporating materials from endangered species.NOTWITHSTANDING THIS REPORT OR ANY DISCUSSIONS CONCERNING A LOT, ALL LOTS ARE OFFERED AND SOLD AS IS" IN ACCORDANCE WITH THE CONDITIONS OF BUSINESS PRINTED IN THE SALE CATALOGUE."

**Please be advised that bands made of materials derived from endangered or otherwise protected species (i.e. alligator and crocodile) are not sold with the watches and are for display purposes only. We reserve the right to remove these bands prior to shipping."

The history surrounding these watches has been something that, in recent years, has gained significant attention in the collecting world. Given the time at which they were produced and the circumstances under which they were supplied to the people that used them, it comes as to no surprise that people take interest in the story each watch tells.  This watch, according to academics, represents a transitional period in the references manufacture between what have been identified as type D and type E executions.  The key difference between these two types is to the inside case back and movement.  The earlier type D were stamped Rolex and numbered however on the later type E watches the branding has been removed, and they only bear a number to the inside case back stamped slightly higher where the steel was still its original thickness.   

It has been theorised that this was an attempt by Hans Wilsdorf to hide the identity of the watches and thus distance himself, and Rolex, from the Nazi regime who controlled Italy at the time and were demanding their manufacture.  One may argue that production should have been halted entirely however it is suggested that this would have endangered the Panerai family, through whom the Nazis were ordering the timepieces. 

The present lot however, while belonging to the type E watches due to its case number, still bears the Rolex markings on the case back.  It is likely then that this watch was missed by Rolex and arrived in Italy unaltered making it a very intriguing piece of the already fascinating Panerai/Rolex story. This particular watch has been restored since its sale at Bonhams and is now in working condition.  While the original crystal was sadly damaged and replaced the dial and the case were left entirely unmolested.  It represents a very fine opportunity to own a watch steeped in history that can be enjoyed and used.