"This watch is a big deal," Alexandre Ghotbi, the head of watches for Europe and the Middle East at Phillips, said in an interview. Only a few Rolex collectors were aware it exists, he added. A unique addition to the market, it encapsulates the innovation Rolex has made in the luxury watch sector over the years, representing more than just a timepiece but a collectible investment as well.
Phillips auction house's decision not to assign a high estimate for the 'Rainbow' Daytona reflects the auction's unique nature, as Ghotbi emphasized that this special watch could potentially set a new benchmark for luxury timepieces, especially during a time when the watch industry is facing challenges. Collectors are still keen on rare pieces that embody historical significance and exclusivity.
The creation of the Rainbow Daytona marks an important moment in Rolex's history as it displayed the brand's ability to craft ultra-high-end jewelry watches using innovative gem-setting techniques, Ghotbi said. While traditionally known for sports watches, this watch signifies Rolex's evolution into the realm of luxury jewelry, making it a significant milestone in their craft.
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