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 record price was achieved for a wristwatch sold at auction?

What factors contribute to the pricing strategy for auctioned items?