While the Oyster Perpetual with a colorful Bubble dial and the special rainbow Day-Date 36 with emotions/emojis replacing the day/date were certainly the most unconventional timepieces Rolex debuted this year— the Perpetual 1908 was the most surprising.

Not because the Perpetual 1908 replaced the Cellini collection, but because of the unprecedented level of finishing given to the new caliber 7140. With Rolex’s new variation of Geneva stripes and beveled edges, the caliber 7140 clearly features more intricate finishing details than we’ve ever seen from the pragmatic brand.

The new design does away with the Cellini look and offers a whole new aesthetic for Rolex. From the fluted partially domed bezel to the matching crown and caseback — this is unmistakably a Rolex. A different type of Rolex. With a slim 39 mm x 9.5 mm case and vintage look, a distinctive black or white Arabic 12, 3, and 9 Explorer-style dial, a small seconds subdial at 6, an oversized open-tipped hour hand, and a Sword-shaped minute hand.

Technologically, the 4.05 mm thick 7140 has it all, an anti-magnetic Syloxi flat silicon balance spring (in blue), a high-efficiency nickel-phosphorus Chonergy escapement (15% more efficient than a traditional level escapement), and high-performance Paraflex shock absorbers. And like all new Rolexes, it’s adjusted and then tested fully cased up, to an accuracy level of -2/+2 — giving it Superlative Chronometer status.

There are no hand-beveled edges — or many hand-polished components at all — but interestingly, Rolex machined beveled edges of the balance bridge and the barrel bridge 7140. Further, the bridges are decorated with Rolex Côtes de Genève, which is a decoration that differs from traditional Côtes de Genève in that there’s a slightly polished groove between each band. Rolex even went so far as to create faux gold chatons which are machined into the bridges and then given gold-plated borders, which results in lower cost and longer serviceability compared to traditional chatons.

While not a Rolex Professional watch the Classic case is still depth rated to 50 meters, compared to 30 meters for typical dress watches, and will withstand shocks, probably to tolerances that are better than most dress watches on the market. The skeletonized 18K yellow gold oscillating weight is fitted with optimized ball bearings for efficient winding of the mainspring in both directions, up to the maximum power reserve of 66 hours. Even the strap has a special way of being secured to your wrist, a la Rolex, called the Dualclasp, which is a double folding class, in 18K gold, that’s specially designed to always center on your wrist.

Seeing the 2023 Morgan Stanley Report which estimated Rolex now has over 30% of the total share of the Swiss mechanical watch market, instantly brought the newly unveiled Perpetual 1908 to my mind. This is a Rolex that will likely further cannibalize dress watch sales of brands that otherwise have not had to compete as directly with Rolex in this category before.

Being available only in 18K yellow or white gold keeps the price up at $22,000 but if the Perpetual 1908 sells well enough, Rolex could eventually offer the same watch in stainless steel for around half the price.