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Citizen Jet Parawater: The Most Undervalued Watch Investment of 2025
As the vintage market clamors for the same overhyped references, a 1960s Japanese diver defies all watchmaking logic: 50-meter water resistance without a screw-down crown, a mere 11mm thickness, and still available for under $1,300. The Citizen Jet Parawater might just be the most undervalued watch investment of 2025.
A diver without a screw-down crown? If you’re like me, that sentence alone should set off your seasoned enthusiast’s radar. Yet, this is precisely what Citizen achieved with its Jet “Parawater” between 1960 and 1967: creating a perfectly water-resistant dive watch by challenging all established industry codes.
While Rolex and Omega were competing with massive cases and prominent crowns, Japanese engineers were quietly developing a revolutionary sealing system based on double-lipped gaskets. The result? A watch with a profile as slim as a dress watch (11mm!), capable of accompanying you to depths of 50 meters.
But here’s where the story gets really interesting: while this technical marvel remains largely ignored by the Western market, its value has been quietly climbing since 2021. The data I’ve compiled suggests a potential for doubling in the medium term. And I’m going to explain exactly why.
Historical Context: A Counter-Current Technical Revolution
To grasp the uniqueness of the Jet Parawater, it’s essential to dive back into the watchmaking context of the late 1950s. Water resistance was the new battleground for manufacturers, and the dominant solution—the screw-down crown—imposed aesthetic constraints, often resulting in thick watches. Citizen, true to its philosophy of democratizing innovation, sought another path.
The “Parawater” System: The Invention of Elegant Water Resistance
The turning point came in 1959 with the launch of Japan’s first fully water-resistant wristwatch, the Parawater. It wasn’t a single component, but an integrated and sophisticated sealing system. The technology relied on the use of O-rings made from a special rubber, a butadiene-acrylonitrile copolymer, strategically placed at the screw-down case back and the acrylic crystal.
However, the major innovation lay in the crown-tube assembly. Instead of using a classic external thread, Citizen developed a specific crown tube housing an internal double-lipped gasket. This ingenious mechanism used water pressure to enhance the seal: the deeper you went, the more the gasket was compressed against the crown stem, ensuring hermeticity down to 50 meters. This approach wasn’t a compromise, but a deliberate choice. It embodied a Japanese engineering philosophy aimed at robust functionality through intelligent design rather than visible over-engineering. By preserving a slim profile and a modestly sized crown, Citizen created one of the first true “skin-divers”—a watch equally at home under a shirt cuff as during a coastal dive session.
To prove the validity of its system, Citizen orchestrated a bold marketing campaign and a full-scale scientific test: the famous Pacific crossings. Starting in 1962, and more formally with the “Kuroshio 64” project, hundreds of Parawater watches (including automatic Jet models) were attached to oceanographic research buoys and launched into the Kuroshio Current. The result was a resounding success. Years later, buoys were recovered, notably in 1966 off the coast of Manzanita, Oregon (USA), with watches still in perfect working order. This epic not only validated the Parawater technology but also forged the legend of the Jet.
The “Jet” Engine: A Peripheral Rotor, A Sonic Signature
The mechanical heart of the Jet Parawater is as unique as its case. It’s crucial to correct a common misconception here: the Jet family calibers (03xx, 11xx, 41xx series) that equipped these models from 1960 to 1967 do not oscillate at 28,800 vibrations per hour (vph). They all operate at a frequency of 18,000 vph (or 2.5 Hz). Higher frequency movements would be the hallmark of later lines like the Leopard or Chrono Master.
The architecture of the “Jet” movement is remarkable. Instead of a classic, centrally-mounted oscillating weight, it employs a peripheral rotor: a weighted, geared ring that glides on a track of ball bearings encircling the caliber. This solution, complex and expensive to produce, provides efficient winding thanks to high torque and, above all, a unique sensory experience. Collectors describe a frantic winding sensation and a characteristic sound—a slight “shaa-shaa” (シャーシャー in Japanese)—audible when the rotor is in action. This mechanical character, far from being a flaw, is a major draw for vintage enthusiasts. Thus, the 18,000 vph frequency is not a limitation but a deliberate choice, prioritizing an extraordinary winding architecture and a strong mechanical personality.
It should also be noted that the “Cal. 150” mentioned in our analysis table refers to the prefix of the case family, not the movement itself. The relevant calibers for the models studied here belong to the 1120/1121 family (Jet movement with date function), available in 19, 21, 23, or 27 jewel versions.
Place in the Lineup and Modern Renaissance
The Jet Parawater holds a pivotal place in Citizen’s history. It bridges the gap between the first manual-winding Parawater Deluxe of 1959 and the successful ranges that followed, such as the Auto Dater Seven Star and Crystal Seven. It represents a period of intense creativity during which Citizen did not hesitate to explore bold technical solutions. After decades of relative obscurity in Western markets, the model has seen a notable resurgence of interest since 2021, driven by a community of collectors captivated by its slim profile, rich history, and excellent value for money. This late awakening is the main driver of its current appreciation potential.
Evaluation Methodology and Market Analysis (2015-2025)
For years, the Jet Parawater was a sleeping giant. Its value placidly followed that of other vintage Citizen watches, without making waves. But everything changed in 2021. Suddenly, its price skyrocketed, far surpassing the benchmark index. The watch was finally having its “renaissance,” driven by ever-growing demand.
The secret to its potential lies in a striking geographical divide.
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On one hand, Japan, where the watch is abundant and liquid, a well-established classic with stable prices.
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On the other, the West, where it remains a coveted rarity, with a much smaller supply.
This is where the opportunity lies. The scarcity in the West, coupled with growing demand, creates a mechanical tension on prices. The market is in a catch-up phase to align with Japanese standards. The fact that New Old Stock (NOS) models still appear in Japan proves that perfect examples exist, acting as a gold standard that pulls the entire market upward.
A word of caution, however: while its movement is a rock, its Achilles’ heel is its water resistance. The specific crown gasket, unobtainable today, is the crucial point to check before any purchase.
Five “Smart-Buy” Variants Under the Loupe
Within the Jet Parawater family, five references stand out for their aesthetics, rarity, and investment potential. Each represents a different entry point into this fascinating universe.
1. Ref. 150-3011: The “Blue Chip” Entry-Level
- Technical Sheet:
- Caliber: automatic Citizen 1120/1121 (21 jewels, 18,000 vph)
- Case: stainless steel (36mm diameter, 11mm thickness)
- Crystal: acrylic (30mm diameter)
- Water Resistance (original): 50m
- Bezel: smooth, polished steel
- Dial: silver, sunburst finish
- Production Years: 1960-1963
- Analysis: This is the quintessence of the Jet Parawater. Its clean aesthetic—classic silver dial and smooth bezel—makes it the most versatile of the five variants. It perfectly embodies the “dress-diver” concept, adaptable to any situation. Its High liquidity in the market makes it the safest entry point for anyone discovering the model. It’s the benchmark reference. In short, a must-have.
- Investment Potential: SOLID. A cornerstone piece for any worthy Citizen collection. Its value is expected to see steady appreciation, in line with the model’s growing reputation.
2. Ref. 150-3012: The “Tool Watch” Spirit
- Technical Sheet:
- Caliber: automatic Citizen 1120/1121 (21 jewels, 18,000 vph)
- Case: stainless steel (36mm diameter, 11mm thickness)
- Crystal: acrylic (30mm diameter)
- Water Resistance (original): 50m
- Bezel: steel, triangle marker at 12 o’clock (diver type), bidirectional friction (or 60-click)
- Dial: black, glossy finish
- Production Years: 1961-1964
- Analysis: This variant fully embraces its diver DNA. The high-contrast black dial and the triangular marker on the bezel give it a decidedly utilitarian, “tool watch” look. Its Medium liquidity indicates it’s less common than the 3011, but it’s highly sought after by collectors who prefer an authentic dive aesthetic. The bezel mechanism (simple friction or clicks) is both an authentication point and a technical curiosity to highlight.
- Investment Potential: HIGH. Its appreciation potential is greater than the 3011’s due to its strong tool-watch appeal and relative rarity. It’s a safe bet for the enlightened enthusiast seeking originality.
3. Ref. 150-3020: The Exotic “Count-Down”
- Technical Sheet:
- Caliber: automatic Citizen 1120/1121 (21 jewels, 18,000 vph)
- Case: stainless steel (36mm diameter, 11mm thickness)
- Crystal: acrylic (30mm diameter)
- Water Resistance (original): 50m
- Bezel: bidirectional friction, graduated from 60 to 0 (“count-down”)
- Dial: blue, sunburst finish
- Production Years: 1962-1965
- Analysis: This is the connoisseur’s choice. The “count-down” bezel is a rare and particularly clever complication for measuring remaining time, setting it apart from 99% of dive watches of the era (usually equipped with elapsed time bezels). Paired with a vibrant blue dial, it exudes a distinctly 1960s character. Its Medium liquidity points to a niche of informed collectors, willing to go off the beaten path to acquire this unique version.
- Investment Potential: SPECULATIVE. This is the variant with the highest potential for capital gain in percentage terms. Its unique features make it a standout piece, likely to command a significant premium over time. Reserved for those who enjoy calculated risks.
4. Ref. 150-3031: The Elusive Rarity
- Technical Sheet:
- Caliber: automatic Citizen 1120/1121 (21 jewels, 18,000 vph)
- Case: stainless steel (36mm diameter, 11mm thickness)
- Crystal: acrylic (30mm diameter)
- Water Resistance (original): 50m
- Bezel: bidirectional, with red graduations and numerals (regatta style)
- Dial: champagne
- Production Years: 1963-1966
- Analysis: The Low liquidity score positions this reference as the “grail” of the series. It is extremely rare on the market. The combination of an elegant champagne dial with the sporty touch of red numerals on the bezel creates a unique and highly attractive aesthetic. It’s the ultimate target for the patient and determined collector.
- Investment Potential: VERY HIGH. The perfect example of risk/reward. Its value is directly correlated with its rarity: a pristine example already exceeds the $1,300 ceiling and would undoubtedly set a new record for the Jet Parawater family. The 3031 is the ultimate hidden gem.
5. Ref. 150-3050: The JDM Homage
- Technical Sheet:
- Caliber: automatic Citizen 1120/1121 (21 jewels, 18,000 vph)
- Case: stainless steel (36mm diameter, 11mm thickness)
- Crystal: acrylic (30mm diameter)
- Water Resistance (original): 50m
- Bezel: black enamel insert
- Dial: black, bilingual date (Kanji/English)
- Production Years: 1964-1967
- Analysis: This is the reference of choice for the Japanophile collector. The bilingual Kanji/English date disc is a highly sought-after feature confirming its JDM (Japanese Domestic Market) origin. The black enamel bezel insert offers a deep, glossy finish—superior to a painted aluminum bezel—but is also more fragile and prone to cracking. This is a key point to assess during purchase.
- Investment Potential: CONNOISSEUR’S TARGET. A safe and stable value, supported by its specific JDM appeal. Although the risk of a damaged bezel is real (replacement is nearly impossible), a mint-condition example is a top-tier piece, prized by a dedicated collector base.
Investment Synthesis and Acquisition Guide
In short, what’s the practical takeaway? This entire analysis translates into a few practical tips for the savvy investor.
Multi-Currency Summary Table
| # | Case Ref. | Bezel | Dial | Years | Price 2015 ($) | Price 2025 ($) | CAGR | Liquidity | Price 2025 (€) | Price 2025 (HKD) | Price 2025 (SGD) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 150-3011 | Smooth steel | Silver sunburst | 1960-63 | 480 | 1,130 | ≈ 9 % | High | ≈ 1,050 | ≈ 9,030 | ≈ 1,580 |
| 2 | 150-3012 | Engraved 12h | Black gloss | 1961-64 | 510 | 1,180 | ≈ 9 % | Med. | ≈ 1,100 | ≈ 9,460 | ≈ 1,650 |
| 3 | 150-3020 | “Count-Down” | Blue sunburst | 1962-65 | 490 | 1,100 | ≈ 8 % | Med. | ≈ 1,020 | ≈ 8,770 | ≈ 1,530 |
| 4 | 150-3031 | Red numerals | Champagne | 1963-66 | 450 | 1,050 | ≈ 8 % | Low | ≈ 980 | ≈ 8,430 | ≈ 1,470 |
| 5 | 150-3050 | Black enamel | Kanji/English | 1964-67 | 520 | 1,240 | ≈ 9 % | Med. | ≈ 1,150 | ≈ 9,900 | ≈ 1,730 |
Purchase & Authentication Checklist
Acquiring a Jet Parawater should be done with diligence. Here are the essential checkpoints:
- Crown: Check for the grooved crown signed “CTZ,” typical of this period. Unsigned crowns or those with a simple “C” can be found on the very first models, but be wary of non-water-resistant replacements. The critical point is the integrity of the internal double-lipped gasket, an original part that has not been remanufactured and is essential for water resistance.
- Case Back: Demand clear photos. The “PARAWATER” engraving must be present and not faded by excessive polishing. The case number format (e.g., JT150-3011, then from 1965 a 4-xxxxxx format) must match the production period and model—a major clue for authenticating the piece.
- Movement: A recent service is a major asset. A healthy Jet 1120/1121 caliber should show an amplitude of over 240°. For JDM variants, the presence of the Kanji/English date disc is imperative. Don’t hesitate to ask for a photo of the complete movement with the rotor visible.
- Bezel & Dial: For enamel insert bezels (especially ref. 150-3050), meticulously inspect for the absence of cracks, even minor ones. On all models, be vigilant for signs of moisture ingress (stains, peeling paint) or a poor-quality relume (crudely applied luminescent paint).
Risks and Rewards
Risks:
- Spare Parts: The main risk lies in the scarcity of model-specific components, particularly the crown tube gaskets and bezel inserts. This is the Achilles’ heel of many vintage Citizens.
- Cosmetic Condition: Excessive polishing that dulls the case edges, a cracked enamel bezel, or a relumed dial are all factors that can destroy the value of an example. (As for finding an example with its original box and papers, let’s face it, that has become an inveterate collector’s fantasy…)
Rewards:
- Historical and Technical Value: The opportunity to own a milestone in Japanese watchmaking history for the price of a modern micro-brand with no history. It’s a piece of heritage, no more, no less.
- Financial Potential: A credible, data-backed thesis of a x2 return on investment as the model’s profile grows in the West. In other words, you’re buying under the radar today what could well be the gem of tomorrow.
- Collecting Pleasure: The joy of wearing a watch with immense character, perfect proportions, and a fascinating mechanical soul. To wear a Jet Parawater is to relive a page of history, while having the secret satisfaction of knowing your investment is well-placed.
Conclusion
The Citizen Jet “Parawater” is much more than just a vintage dive watch. It embodies a brilliant Japanese design philosophy from the mid-20th century, favoring elegant solutions and versatile aesthetics where others opted for brute force. Today, the market is waking up to what Japanese collectors have known for a long time. The confluence of a captivating history, a unique mechanism, and a design that seems more relevant than ever makes the Jet “Parawater” one of the smartest acquisitions in the vintage watch market for 2025. It is possibly the deal of the decade for discerning enthusiasts. For the collector seeking a piece that offers historical depth, mechanical intrigue, and tangible financial potential, the quest for a masterpiece under $1,300 can—and should—end with the Citizen Jet “Parawater.” So, ready to take the plunge?
Pour bien s'habiller, il faut comprendre le vêtement, mais aussi la marque et sa stratégie.
- Citizen Jet Parawater (1960–67): 50 m dykare utan skruvad krona under 1 200 € — dubbla potentialen - 13/08/2025
- Citizen Jet Parawater (1960–67): 50 m dykker uten skrukrone under €1 200 — potensial for dobling - 13/08/2025
- Citizen Jet Parawater (1960–67): 50 m dykker uden skruekrone til under 1.200 € — klar til at fordoble - 13/08/2025