I do not know if the seller purchased it from him, but I believe this is the same iced Daytona (custom made for a middle easterner) that British watch dealer, Tom Bolt, sold (at least) twice before. Bolt also appeared on a tv show 2-3 years ago where high end buyers attempted to bid for this watch, unfortunately, none met Bolt's minimum & he left with the watch in hand.
I am sure Mayer is aware how ugly the watch is, but, as is the case with many uber wealthy collectors, he knows that any Rolex that was made in small batches is unlikely to be a bad investment & is therefore worth whatever it costs to possess it.