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The gargantuan elephant in today’s horology-savvy room is a record-breaking one, all 50mm of it. Yes, we’re talking about the unveiling of Rolex‘s first-ever all-titanium watch – the Perpetual Deepsea Challenge – and that little flutter we feel whenever the crown decides to drop some fresh new wristwear.

Much like Patek did last month, Rolex blew away the Halloween cobwebs by revealing this surprising new addition. Before diving into the deep end with this new Perpetual Deepsea Challenge – it’s the deeeeeeeepest dive – we should serve up some context behind what Titanic (and Avatar) director James Cameron has to do with this new piece, and why the likes of Omega and TAG Heuer might be a little disheartened by the news. Indeed, we didn’t know there was a race on to the bottom of the sea, but then we remembered the experimental Rolex Deepsea made for Cameron in 2012 where he reached the bottom of the Mariana Trench (the deepest known place in the world’s seas) in a submersible vessel called Deepsea Challenger, which duly triggered food for thought among other watch big dogs as to how low (deep) they can go. This year alone has seen TAG Heuer go to 1000m with its Aquaracer Professional 1000 Superdiver and Omega plunge to depths of 6000m with the Seamaster Planet Ocean Ultra Deep, which has a backstory similar to Cameron’s, and until today held the record.

Rolex’s Perpetual Deepsea Challenge can function to a depth of 11,000m. AKA, it tears up the record books and laughs in the face of any kind of pressure; exerted at 36,090 feet or in a boardroom when debating Q3 results. It automatically becomes the ultimate diver in the sense that there are no depths it can’t not dive to while remaining waterproof. It also serves as a welcome reminder that watches from Rolex’s professional series used to be the über-tool watch, and wearing one was the mark of a seasoned adventurer. Many a watch enthusiast has, googly-eyed, sat next to a weathered 70-year-old adventurer wearing a battered Rolex, and though those days of the one-tool-watch-for-all-occasions may be gone, their features and capabilities should never be forgotten. And judging by the initial reaction to this new Deepsea über-tool, its irrelevance makes it all the more compelling – we love it for all its splendid functional overkill (and its size makes the Submariner look like the dress watch it has now become) In many ways, it also signals a welcome return to the days of competitive technical watchmaking.

Indeed, there are fresh-feeling vibes about it, coupled with a contrarian joy in the blunt weaponised size of the welterweight case and its dial, and it only takes a glimpse inside to find the well-known Rolex details and white gold indices. Are they misplaced in a massive dive tool? Perhaps, but that only makes them sexier. And titanium is a great way to make big feel comfortable, just like the now relegated-to-second-place-in-the-deep-diving-watch-competition Seamaster Ultra Deep, with its bruiser-size and cheeky nato strap. In fact, the very un-Rolex-like titanium case means it might even wear close to a normal watch. With a price tag of £21,850, it’s also not crazy money and is available now (if you know people who know people). At 50mm, you get a decent amount of watch – now all we’re thinking about is who in the world could pull off a watch that big? Oh wait, Dwayne Johnson could.

There’s no denying that no one will be diving to depths of 11,000 metres but that’s kind of the beauty of the madness. Technically, Rolex has created a watch that can survive such depths. The industry must applaud the brand for releasing a charming beast, both unhyped and confident in true Rolex fashion. But surely this now puts an end to the unspoken rivalry to produce the deepest-diving diver of all divers. Unless, of course, someone can find any deeper oceanic trenches on Earth to test it out in. Challenge accepted.