Collectors Gear Up to Own Paul Newman's Daytona Rolex

The video discusses the auction of a rare Paul Newman watch, estimated to fetch over $1,000,000. Paul Boutros from Phillips explains the watch's provenance, its journey to auction, and the market dynamics involved. The watch, gifted by Paul Newman to his daughter's boyfriend, was thought lost but is now up for auction. Proceeds will benefit the Nell Newman Foundation. The video also covers past record-breaking watch sales and the strategy behind setting auction estimates.

What is the estimated value of the limited edition sports watch discussed in the video?

• $5,000,000

• $2,000,000

• $1,000,000

• $500,000

Who originally received the watch as a gift from Paul Newman?

• Paul Newman's wife

• Paul Newman's daughter's boyfriend

• Paul Newman's daughter

• Paul Newman's son

What was the highest price ever achieved for a wristwatch sold by Phillips?

• $2 million

• $3.7 million

• $11 million

• $5 million

Which foundation will benefit from the proceeds of the watch sale?

• The Paul Newman Foundation

• The Rolex Foundation

• The Nell Newman Foundation

• The Phillips Foundation

What is the main reason for setting conservative estimates at auctions?

• To avoid legal issues

• To ensure a high final price

• To attract more bidders

• To guarantee a sale