Founded by two enterprising Italians, Leopoldo Serpico and Vincente Laino, the eponymous Venezuelan watch and jewellery house was established in the middle of the roaring 20s. The pair was a match made in heaven: Laino, being the business brains, and Serpico, bringing the financial brawn, guided the business to prosper for a generation. While Serpico y Laino retailed watches for various brands, their crowning achievement must have been the exclusive rights for Rolex distribution in Venezuela.
During that time, Rolex was still forging its international reputation and customers trusted local retailer more than foreign brands, thus “double-signed” dials were born. These double-signed dials, identifiable by the “Serpico y Laino” dial signature or by a subtle “S&L” case engraving, served as a stamp of quality for the imported watches. As one can imagine, this required enormous respect from the maison to the retailer and vice versa.
Just four decades later, with the prestige that Rolex enjoys, it is inconceivable such double-signed watches would be produced again. Understandably, these monuments of the past have become highly prized amongst apex collectors. Such is the desirability that the "double-signed" watches often enjoy a premium, at times multiples, over their plain counterparts since surviving ones are unbelievably rare. The present lot on offer, the Rolex 5513 “Serpico y Laino”, is one such example. It is known as the last of the “classic” submariners: no date, 4-digit reference and acrylic crystal. Notably, the watch has aged gracefully, resulting in a chocolate gilt dial, honey lume plots and a faded “ghost” bezel.
Those interested in this particular piece will undoubtedly be focused on the “Serpico y Laino” signature. Serious connoisseurs will notice a unique detail; whereas an overwhelming majority of double signed watches have the retailer signature at 6, this exceptional piece has its signature at 12, making it a unicorn even amongst rare “double-signed” Rolex Submariners. Even more astonishingly, the lightly engraved “S&L Acero” on the case back is still well preserved after many years; it is a clear testament to the outstanding condition that this piece is in. To the best of our knowledge and research, there is only a handful of Rolex, of which fewer are Submariners, with the “Serpico y Laino” signature at placed at 12.
For many, this Rolex 5513 “Serpico y Laino” will simply be one Submariner; yet, for the distinguished collector, this may well be the final puzzle piece. Knowledgeable aficionados will understand that this piece is present only once in a blue moon. So, to those hoping to complete a Rolex Submariner, “double-signed” or Venezuelan collection, we say - do not hesitate.
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