A rare Panerai Luminor 1950 PAM 203, one of the most exclusive Panerai models ever made, is expected to fetch up to $110,000 at Sotheby’s Important Watches sale in Geneva on May 15.

A damned handsome timepiece to be sure, but why is it worth so much?

The President of Officine Panerai personally selected the fortunate collectors offered the opportunity to purchase one

Made in a strictly limited production of 150 pieces starting in 2007, the President of Officine Panerai personally selected the elite collectors – aka “Paneristi” – like Sylvester Stallone who were offered the opportunity to purchase one.

Thanks to what we can only assume are the fluctuating fortunes of one such fellow, this example, no. 133, can now be yours – even if you weren’t on the list.