This example of ref. 765CP represents an extremely intriguing variation of the “standard” version of the model (see lot 159 in this sale). Reference 765CP was launched in 1965 as an update of the AVI model. It was a response to other steel chronograph with a strong sport vocation introduced to the market in the previous years (such as the 1963 Rolex Cosmograph Daytona or the 1962 Heuer Autavia). Underlining this sports vocation, around the same time this variation with regatta countdown timer was also introduced, featuring bezel and a 15-minute counter color-coded so that the 15 minutes countdown to the start of the race can be followed on both independently (either by activating the chronograph, or by aligning the beginning of the red sector on the bezel with the minutes hand).

The model was in production for a very short time, as in 1967 it was succeeded by a version featuring orange hands, dramatically modifying the aesthetics of the watch. This example from April 1967 thus belong to the very end of the production of this first execution Yachting chronograph. Interestingly, it come from the very same batch of the aforementioned other 765CP offered in this sale.