Important Watches
Important Watches
Rolex
Reference 16610 Submariner ‘Panama Canal’ | A stainless steel automatic wristwatch with date and bracelet, made to commemorate the transfer of the canal from the United States to Panama, Circa 1999
Auction Closed
December 7, 07:12 PM GMT
Estimate
50,000 - 70,000 USD
Lot Details
Description
Dial: black, Panama Canal logo
Caliber: cal. 3135 automatic, 31 jewels
Case: stainless steel, screw down case back
Case number: A’732’927, No. 32 / 75
Closure: stainless steel Rolex Oyster bracelet with folding clasp
Size: 40 mm diameter, bracelet circumference is approximately 185 mm
Signed: case, dial and movement
Box: yes
Papers: yes
Accessories: Rolex presentation box with outer packaging, Guarantee and Official Chronometer Certification dated December 1999 with the retailer Mercurio, card holder, booklet, polishing cloth, hang tag
Rolex has built a tremendous and coveted brand without relying on limited edition productions or custom orders, making the exceptions and allowances even more sought-after in today’s market. Such pieces are very often commemorating a historic event or embarked on professional adventures to be used as reliable tools.
The present lot was produced in a limited edition of only 150 pieces to commemorate the transfer of the Panama Canal from the United State to the Republic of Panama in 1999. 75 pieces were made in stainless steel and 75 pieces in steel and yellow gold, specifically for Mercurio Joyero, a retailer in Panama. The Panamanian community celebrated this national pride on December 31, 1999, as the 1977 treaties allowing the US to build and operate the canal in exchange for a fee, was abrogated.
The collectable Submariner bears minor cosmetic differences which quickly set it apart. The dial bears a matching white emblem representing the Panama Canal, flanked by the words "Panama Canal / Canal de Panama". The back of the watch displays a simple limited edition number engraved to its periphery. The present example is numbered 32/75. The present lot is offered in excellent overall condition and appears fresh to the market complete with all accessories including the punched Guarantee and Chronometer certificate confirming the retailer, Mercurio in Panama.
With Rolex producing close to a million watches per year, the absurdly low number of examples for this edition makes it a genuine modern Rolex treasure.