Last year, when Zenith reissued the legendary "A. Cairelli" CP-2 chronograph, collectors -- appropriately -- offered thanks to the heavens. The stunning re-edition reminded them of a rarely recalled chapter in the history of military watches, well-known in Italy but less so beyond the core (or should that be corps?) of military watch enthusiasts.
While seasoned military watch aficionados might reel at describing the CP-2 as "rarely recalled", the reasons for this categorization are quite specific. For one thing, it was -- in A. Cairelli-signed form -- issued only to the Italian forces, so its fame and its original fan base are, or were, restricted solely to the home market. For a second, only 2,500 were produced, with one estimate suggesting that 2,000 were issued to the military and 500 sold to the public. Another source has intimated a 50/50 split.
According to Zenith's official history, it was confirmed thusly: "The Italian Army ordered more than it distributed, so a rather large number of them are on the market, within the limit of the 2,500 pieces that were made.omega replica Those with the military markings are in the most demand."
Although the CP-2 instantly seduces both chronograph and military watch buffs, its rarity has mitigated against it being as well-known in collector circles as the IWC "Mk" models, the Rolex "Mil-Spec" Submariners made for the Royal Navy, the Omega 300s made for the British services or, most pointedly, the original military-issue Panerais -- also, coincidentally, Italian. This matters hugely, because Italian collectors are among the most fervent in the military watch community, rivaled only by their former collaborators, the Germans. That said, the A. Cairelli Zenith has always been enormously desirable to those in the know.
Values show a trend that can be likened to those for Heuer Autavias and certain Tudors. When I was offered one in the mid-1990s, the price then was GBP1,200 (Rolex Air King Replica watches), or GBP2,500 (USD3,400) today. That is not far off what you could have paid for one as recently as five years ago. But as of December 2015, when Antiquorum offered a CP-2 with a USD3,000-5,000 estimate, it ultimately sold for USD11,875 with premium. And current values have yet to peak.