Royal Felipe Vi Of Spain spotted wearing a Bulgari

King Felipe VI of Spain was recently photographed on official duties with the Bulgari Octo Ultranero ref. 102738 visible at the wrist — a quietly assertive choice that aligns with the Spanish monarch's known preference for purposeful, well-engineered timepieces rather than overtly flashy statements.

The Bulgari Octo Ultranero ref. 102738 is built around the Octo's defining geometric architecture, originally conceived by designer Ambrogio Pesenti and later refined under the creative direction of Fabrizio Buonamassa Picchione. The 41mm steel case receives a Diamond-Like Carbon coating — an amorphous carbon treatment applied via physical vapor deposition — that delivers exceptional scratch resistance alongside a uniform, deep matte black finish. The contrasting red hands and applied red hour markers are not merely decorative; they provide genuine legibility against the blackened dial, a nod to tool-watch functionality within a dress-capable package.

Beneath the case, Bulgari's in-house BVL 193 automatic calibre does the work. The movement beats at 28,800 vph, offers approximately 42 hours of power reserve, and is visible through a sapphire caseback — a detail that reinforces Bulgari's push over the past decade to be taken seriously as a manufacture rather than a fashion-adjacent brand. That repositioning has been largely successful, and the Octo line sits at the center of it.

For collectors, the Ultranero occupies an interesting position. The Octo Finissimo variants — particularly the ultra-thin perpetual calendar and tourbillon models — command the headlines and the premiums. But the Ultranero ref. 102738 represents the core Octo aesthetic in its most legible, wearable form. DLC-coated references historically retain value better than polished steel equivalents within the Octo family, partly because the coating signals intent: this is a watch bought to wear, and it wears well.

At a UK list price of approximately £5,400 — translating to roughly $6,800 USD — the Bulgari Octo Ultranero ref. 102738 is one of the more compelling entry points into in-house manufacture horology from a major Italian maison. Grey market pricing has remained close to retail, reflecting steady demand without speculative excess. Felipe VI wearing it in a working context is exactly the kind of endorsement this watch earns on merit.