Designed for pilots, in keeping with so many other iconic chronograph models from Breitling, the ref. 765 was launched in the very late 1930s as a tool for military pilots, with the AVI Co-Pilot version that we have here launching in 1953, and the specific reverse panda variant being produced from 1962 to 1964, making it a rare bird indeed. Powered by the manual-wind Venus cal. 178, considered by collectors to be one of the most famous and influential column wheel operated chronograph movements of all time, the ref. 765 is as iconic on the inside as it is on the outside. Of course, one large part of its iconic external design is its dial, with five luminous indices forming a star pattern within its white 15-minute subdial at 3 o’clock. Boasting a stainless count-down bezel insert along with its reverse panda dial, this example’s entire design is sleek and understated, with it being unapologetically focused on its function as a pilot’s tool.

The watch is in overall very good condition. The steel case has some scratches and light nicks, including around the aperture on the case back. The case back has very well-defined engravings but also some noticeable scratches. The pushers and ‘B’ winding crown are in excellent condition. The bezel has light scratches and scuffs, with some enamel missing in places. The triangle at 12 has been painted red. The dial shows surface marks and visible spotting on the sub-dials, with discoloured lume. The white hands have been relumed and the lume is cracked. The watch is fitted with an IWC-signed leather strap and a generic steel deployant clasp in excellent condition. Please note that the watch ticks at time of cataloging, but it is not keeping time and a service is recommended.

An iconic pillar of Breitling's heritage as one of the finest pilot's watchmakers, the ref. 765 has been reissued and relaunched several times in the brand's history, but nothing beats the original.