Paul Newman

[kernow]

THE Paul Newman Daytona resurfaced and has just been sold at auction. If you want to watch it here's the link.

 

 https://www.hodinkee.com/articles/phillips-winning-icons-paul-newman-live-stream

 

With an opening bid of $10,000,000 you can guess it went for a rather large sum. 

 

Incidentally, my late father looked like Paul Newman. 

[Sogeha]

Call me a cynic if you want, but the real story here is how the richest 1% scam the rest of us. $17 Million for a watch? Think again, it was a charity auction as so many of the ultra high value auctions are. What that really means is the winning bidder got a $17 Million tax right off, a free watch and the chance to look generous 

[tomhorn]

The important words in the story were "percentage of the proceeds". Not all. We also don't know where the buyer lived (or at least I haven't seen it in any of the stories) so there may or may not have been a tax break helping along the deal. Even if they were US-based. they are only getting a deduction of about 20% if the buyer is the typical person with that much scratch hanging around. And an extra couple of million to someone who can afford a $17 million watch is nothing. Probably only covers the buyer's premium.

 

Still a lot of money for a watch. Given this is THE watch that led to coining the phrase "Newman Daytona" and if you are a serious watch collector with the means, what else would you want to buy? If I had the money to play in that stratosphere, I wouldn't care how much it was.

 

And yes, you are a cynic. There is no "scamming the rest of us". Just someone (or a company) with a lot of disposable income. All the better if some of that money goes to charity. It's not like the Newman Estate really needs it. I'm sure the kids are all fine.

 

 

[alt.watch.obsessive]

The price for the Newman was about what I expected. I actually watched this live streaming and it was fairly exciting. I was guessing 15M and it did pause there before going up to 17+. I honestly think it is as much of a one-off (or one-of-four-off) as some of the watches it surpassed, just in a different way.

 

I am however suspicious of the prices of some of the other watches. Basically any old Daytona seems to be worth 100K  and I was surprised to see the LeCoultre Deep Sea sell for 100K.

 

Either the auction attracted a lot of folks with money to burn or interested parties are bidding up lots in these very highly publicized auctions.

[Sogeha]

 

1 hour ago, tomhorn said:

 

And yes, you are a cynic. There is no "scamming the rest of us". 

 

You really believe the super rich are paying taxes at the rate they are supposed to be or even at the rates average guys pay? Fair enough, I’m not going to argue