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Old 27 May 2019, 04:49 PM   #1
kog
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A nagging question(s) about the Paul Newman Daytona

Back in 2017 the Paul Newman Daytona sold at auction for a whopping $17 million.

There were just two anonymous phone bidders very desperate for this watch, the final price was way above estimates.

My question is were these two bidders actually Rolex bidding against themselves??? I know no one here can really give a definitive answer but its nagging.

If Rolex didn't buy it then who did?
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Old 27 May 2019, 06:03 PM   #2
Hendrikus
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How cynical....... you are right, though, was it ever confirmed who bought it?
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Old 27 May 2019, 06:10 PM   #3
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the last bid should be 15.5M if I remember correctly.
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Old 27 May 2019, 07:19 PM   #4
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Why would they bid against themselves. There is sufficient demand for the watches they produce don’t think they need to add to that by driving this auction price up.
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Old 27 May 2019, 08:39 PM   #5
kog
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Why would they bid against themselves. There is sufficient demand for the watches they produce don’t think they need to add to that by driving this auction price up.
Because biding up the watch generates huge publicity and strengthens the brands reputation. The demand/price of Rolex watches since 2017 has gone crazy, esp for the Daytona. If I recall correctly most of the bidders dropped out at around the estimate valuation but two just kept bidding.
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Old 27 May 2019, 08:52 PM   #6
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Because biding up the watch generates huge publicity and strengthens the brands reputation. The demand/price of Rolex watches since 2017 has gone crazy, esp for the Daytona. If I recall correctly most of the bidders dropped out at around the estimate valuation but two just kept bidding.
I get that, but the reputational risk if they got found out doesn't seem worth it.
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Old 27 May 2019, 09:20 PM   #7
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I get that, but the reputational risk if they got found out doesn't seem worth it.
Very good point never considered that. And also Rolex have pulled their SS watches out of AD's meaning they aren't profiting from the rise in tide so to speak since the sale of the Paul Newman.

Maybe this is why Rolex have pulled the SS watches from AD's to quash any theories that Rolex had an hand in this to profit from it.
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Old 29 May 2019, 07:35 AM   #8
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I get that, but the reputational risk if they got found out doesn't seem worth it.
All staff in the auction house know who bought it
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Old 27 May 2019, 08:41 PM   #9
kog
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the last bid should be 15.5M if I remember correctly.
The last bid yes but with all the fees ect. 17 million plus
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Old 27 May 2019, 07:31 PM   #10
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http://www.charlestearle.com/column-...l-newman-wdd7j
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Old 27 May 2019, 08:03 PM   #11
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Thank you for sharing, nice article.
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Old 27 May 2019, 07:51 PM   #12
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Plot twist: Patek bought it and is holding it ransom from Rolex forcing them to stop production of all SS models until Patek can acquire enough market share.
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Old 27 May 2019, 09:21 PM   #13
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I believe it is highly likely that Rolex bought it but I don't believe they were bidding against themselves, just seems like too cynical and cutting edge a move for old sleepy, traditional Rolex.
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Old 27 May 2019, 09:25 PM   #14
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On a side note I heard Rolex were trying to buy Patek, take with large pinch of salt.....


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Old 27 May 2019, 09:48 PM   #15
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I think it's an open secret amongst top collectors (of which I am not).

If I were to throw out a random guess, I think Eric Clapton bought the PN PND.
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Old 27 May 2019, 09:43 PM   #16
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I believe that Rolex purchased the watch and would have paid as much as necessary to acquire it. Historically significant watch for the brand. I also believe that one day it will reappear as an exhibit from Rolex.
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Old 27 May 2019, 11:12 PM   #17
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Interesting...if Rolex did buy it and they do open a museum one day, they can easily get around the fact that they bought it and say it was donated by an anonymous owner.
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Old 28 May 2019, 12:17 AM   #18
'Andy'
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If Rolex bought it I would have assumed it would have been on display in their museum by now so I don't think they bought it.
There is a collector in Hong Kong who is know for collecting Daytonas, so for a wealthy billionaire the icing on his collection would be the PN Daytona but we would never see it again, which is what has happened so far..??
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Old 28 May 2019, 12:30 AM   #19
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I’m glad you brought this up. I was actually the winning bidder. Was just about to post about whether or not I can wear it in a sauna.


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Old 28 May 2019, 01:39 AM   #20
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I’m glad you brought this up. I was actually the winning bidder. Was just about to post about whether or not I can wear it in a sauna.


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That is hysterical! It is safe but check the seals first!
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Old 28 May 2019, 02:14 AM   #21
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I’m glad you brought this up. I was actually the winning bidder. Was just about to post about whether or not I can wear it in a sauna.


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Good one.
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Old 28 May 2019, 02:18 AM   #22
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A buddy of mine is involved in the auction business and strongly suspects this watch ended up in the House of Saud. Totally unconfirmed, but it's the most educated guess I've heard.
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Old 28 May 2019, 02:31 AM   #23
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Could there have been shill bidding of some sort? Sure.

But is it really unreasonable that in a world with thousands of billionaires, a couple of them would get into a bidding war using what to them is basically lunch money?

Rolex doesn't need to get involved in stuff like this -- the mega-wealthy do it on their own.
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Old 28 May 2019, 02:38 AM   #24
RJRJRJ
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I don't think they bid themselves up, but I do think they were the buyer.

No entity in the world has more of an incentive to spend as much as necessary to get that piece.
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Old 28 May 2019, 02:40 AM   #25
tkc324
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A little bird told me that John Meyer and Ellen were the final bidders... buy only I know who actually won it at the end...
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Old 28 May 2019, 03:10 AM   #26
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Yeah, how come we haven't seen an "Incoming" yet?

"I picked up three watches today, including the Paul Newman PND! I'm over the moon!"

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Old 29 May 2019, 06:20 AM   #27
Fleegle
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I won the auction. Happy with the winning bid but as usual, Paypal fees were crippling.
Here's a wrist shot but that's all for you now - I need to get back to my studies.

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Old 29 May 2019, 08:18 AM   #28
TheDon2000
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I won the auction. Happy with the winning bid but as usual, Paypal fees were crippling.
Here's a wrist shot but that's all for you now - I need to get back to my studies.

Wow, the time you spent to do this makes this worth an award.
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Old 30 May 2019, 04:48 AM   #29
Navarino
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I won the auction. Happy with the winning bid but as usual, Paypal fees were crippling.
Here's a wrist shot but that's all for you now - I need to get back to my studies.

Huge congrats! Must have missed that incoming post!
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Old 30 May 2019, 03:20 AM   #30
LittleGothamDragon
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I think Rolex bought it
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