‧自動上弦擒縱機芯2750，17顆寶石，單一金屬擺輪．黑色錶盤，條狀時標和阿拉伯數字，中置秒針．鈦金屬錶殼，專利錶冠護橋，錶圈由三顆螺絲固定，底蓋由六顆螺絲固定．錶盤印有品牌標誌．備精鋼沛納海錶扣

* 拍品資料以英文圖錄為準。如需中文狀況報告，請電郵 sally.lai@laitexier.com 或致電 +852 2822 8117。

Movement is in working order while cataloguing, service is recommended for accurate time keeping due to its age. Superficial hairline scratches to the dial with signs of aging, only visible under a powerful loupe. Signs of restoration to the hands. Bezel with light oxidation at 12, but can be cleaned. Very light surface scuffs to the band and case back, overall condition is very good for its age.
"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.

Important Notice regarding importation into the United States of Rolex watches
Sotheby's cannot arrange for the delivery of Rolex watches to the United States because U.S. laws restricts the import of Rolex watches. The buyer or a designated agent may collect the property in the country of sale."

In 1985, following the success of wristwatches made for the Italian Military during the 1930s-50s, Officine Panerai began to develop a new diving watch specifically for the Italian Navy. With specifications that the watch must be antimagnetic, easy to read and water-resistant to great depths, two initial prototype designs were created.

The original, experimental prototypes were made by hand within the laboratories of Officine Panerai in Florence under the guidance of Alessandro Bettarini. Created in two versions within titanium and bronze cases, the bronze case featured a large circular design with movable shoulders and plain rotatable beze. The titanium version was made with canted fixed shoulders and plain rotating bezel, b♈oth prototypes used Panerai’s patented locking crown system, plain black dial with luminous 12, 3, 6, 9 numerals and luminous baton hands, similarly both designs used an ETA automatic movement. The dial underwent several changes with two of the titanium versions featuring printed metal dials and Plexiglass dials,  the final version using a thicker Plexiglas dial fitted with inset luminous Taser glow tubes replacing the baton markers, similarly the hands were fitted with glow tubes. Initial prototypes used Plexiglas crystals although this was replaced with a thick sapphire crystal in later editions. The final version was presented to the Italian Navy and despite successfully passing the rigorous tests it was subjected to, no orders were placed, however the initiative for relaunching the brand had been established.

The final version of the titanium prototype remains in the Panerai Museum with the previous three examples all lost from repeated transfers of department and believed to have been dismantled or destroyed. This is the first time one of the original titanium prototype examples, believed to be the 2nd version produced, has been offered for auction and as all of the four versions made underwent progressive changes, each can be con🦹sidered unique.

For further information of this model see pages 347-353 within the book ‘Vintage Panerai’- The References by Ralf Ehlers & Volker Wiegmann and pages 106-107 in the book ‘Panerai’ by Giampiero Negretti and Simon De Burton. It shou🔯ld be noted the watch featured in both books is the same final prototype made from the Panerai Museum.

Sotheby’s would like to thank Volker Wiegmann and Alessandro Bettarini for their assistance in researching this model. For future reference Alessandro Bettarini is currently writing a new book dedicated to the Mille Metri prototype featuꦉring this example.