This is an edition of the newsletter Box + Papers, Cam Wolfâs weekly deep dive into the world of watches. Sign up here.
What do I have in common with Roger Federer, Drake, CC Sabathia, Lionel Messi, and Shai Gilgeous-Alexander? We all love ordering off-menu. For me, that means an Animal Style burger at In-N-Out; for those other guys, it means something slightly more extravagant.. Think: exclusive Rolex watches that sometimes cost over a million dollars and come set with an absurd amount of diamonds, sapphires, rubies, and beyond. These pieces are never released (or even announced) to the public and often garner nicknames like âGiraffe,â âLeopard,â and âEye of the Tiger.â (So they are sort of Animal Style in their own way.) Welcome to the secret world of Rolexâs off-catalog models.
Right now, weâre in the midst of the special time of year when VVIPs start popping up in Rolexâs most prestigious and elusive watches. Like seeing the leaves turn red, I first sensed the change in the air earlier this month, when Drake was spotted on Bobbi Althoffâs podcast (againâŠ) wearing the new Rolex Daytona âGiraffe,â the dial of which recreates the pattern on the long-necked mammalâs fur in gems and gold. Later that week, former New York Yankees pitcher CC Sabathia was spotted wearing the same piece at the US Open.
Youâll notice that the âGiraffeâ was never included in Rolexâs official lineup of 2025 releasesâwhich might seem odd, because it wouldâve easily been the brandâs biggest and coolest debut of the year. Thatâs very much by design: The Crown only invites its top clients to purchase these off-catalog pieces, a reward for being a loyal customer. âRolex operates like this to give the buyers who are selected for these pieces exclusivity,â says Eric Rivera, a dealer who recently sold a âGiraffe.â âSo they [retain] that off-catalog mystique.â
While there is inherent prestige in owning any Rolex, the brand is estimated to produce somewhere in the neighborhood of one million watches per year. These off-catalog pieces are a way to provide clients with something truly unique. âIt's a quiet acknowledgement by Rolex of how important prestige and exclusivity is,â says Paul Altieri, founder of Bobâs Watches, who has moved several of the ultra-coveted âLe Mansâ Daytonas in white and yellow gold.
Rolexâs secret releases are defined by extravagant gem settings and wild patternsâthe type of stuff you donât normally see while browsing the Crownâs website. In that way, it makes strategic sense for the brand to keep these watchesâwhich are deeply incongruous with the tough, toolsy pieces the brandâs foundation is built onâout of the public eye. âThey donât really want to have them on their web catalog both because of [the price] and to avoid the public asking for them,â Rivera theorizes.
Retail prices on these pieces arenât public, but they sell for gaudy numbers on the secondary market. According to Rivera, the market price for a âGiraffeâ is over $300,000. Sellers are often attracted by the potential for a massive payday on a single off-catalog watch. âSomeone jumped through some crazy hoops to obtain it at retail,â Rivera explains, âand wants to cash their golden ticket.â
A ref. 116595RBOW Rainbow Daytona
Phillips
As with the main catalog, Daytonas remain the biggest draw for off-catalog buyers. The Rainbow Daytona is âthe most difficult to obtain and the benchmark when it comes to off-catalog,â Rivera says. The dealer adds that a variant of the Daytona with its dial fully set with diamonds (ref. 126576TBR) and the âEye of the Tigerâ are the next most desirable pieces. For Altieri, âthe âLe Mansâ is still the big breadwinner,â he says.
Thanks to social media, Rolexâs off-catalog watches are a far bigger deal in 2025. Back in the day, these silent releases would mostly stay that way; now, however, itâs easy to connect the dots when both Messi and Gilgeous-Alexander wear the âBarbieâ Daytona with a pink dial and a ring of pink sapphires on the bezel. Or when Sabathia, Drake, Messi, and music industry exec Steve Stoute all start wearing the same Giraffe-patterned watch.
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Miikka Skaffari/Getty Images
The off-catalog releases for 2025 include:
In a world where customers are flush with choice for distinctive, mind-blowing pieces, the off-catalog watches are Rolexâs secret weapon. They allow the brand to play in an even more exclusive sandbox while offering the type of rarity weâd expect from a small-batch independent watchmaker. Waiting lists for many of the Crownâs normal pieces are already legendary; to own one of these off-catalog pieces requires a determinationâand bank accountâthat only a small handful of people on the planet can muster.
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