First Rolex Rainbow Daytona Could Fetch $3.5 Million at Auction
- Watch will go on sale in November, says auction house Phillips
- Sale will be a key test of demand from high-end watchbuyers
The first-ever Rolex ‘Rainbow’ Daytona chronograph watch is set to come to auction and could fetch more than $3.5 million.
The Rolex from the 1990s will be put on the block in Geneva on November 8. In an unusual move, the auction house Phillips has decided not to assign a high estimate value for the piece, but expects it to sell for at least 3 million Swiss francs ($3.5 million).