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Phillips to auction Paul Newman's PN Daytona
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MMMD
··unaffiliated curmudgeonly absurdist & polyologistI dunno, dial's a bit stained... going to have to give it a pass.
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Wing Zero
·10+ mil. All day.
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Wing Zero
·Now we just need to find Castros 6542
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OmegaCal66
·I find this to be utterly uninteresting. After the novelty of exclaiming "Oh no, not A Paul Newman, THE Paul Newman!" to other enthusiasts wear off, what are you left with? An old watch.
All those saying that it should be in a museum need to spend more time in real museums. Places that exhibit works of genuinely creative talent influencing the minds and hearts of men through time or objects that are part of everyones cultural, human history. NOT some expensive trinket that has become even more expensive because it happened to be owned by an American celebrity.
The worst example of this pathetic trend is the attitude towards everything worn/driven/owned at some point by Steve McQueen. Apparently, owning a Heuer Chronograph will make you as cool as he was, so these are highly sought after by sad, middle-aged men who have accomplished nothing remotely interesting in their lives and hope that some of the (life)style associated with said actor will rub off on to them. It's the same men who usually have a weird fascination with Porsches and automobile racing. They ought to get out more.
Have a great weekend, everyone! 😀
Absolutely brilliant, we need a section devoted to the best rants
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Wing Zero
·Absolutely brilliant, we need a section devoted to the best rants
+1
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watchlovr
·"Uninteresting" but interesting enough to comment on the thread twice?
I find this to be utterly uninteresting. After the novelty of exclaiming "Oh no, not A Paul Newman, THE Paul Newman!" to other enthusiasts wear off, what are you left with? An old watch.
All those saying that it should be in a museum need to spend more time in real museums. Places that exhibit works of genuinely creative talent influencing the minds and hearts of men through time or objects that are part of everyones cultural, human history. NOT some expensive trinket that has become even more expensive because it happened to be owned by an American celebrity.
The worst example of this pathetic trend is the attitude towards everything worn/driven/owned at some point by Steve McQueen. Apparently, owning a Heuer Chronograph will make you as cool as he was, so these are highly sought after by sad, middle-aged men who have accomplished nothing remotely interesting in their lives and hope that some of the (life)style associated with said actor will rub off on to them. It's the same men who usually have a weird fascination with Porsches and automobile racing. They ought to get out more.
Have a great weekend, everyone! 😀
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Wing Zero
·I find this to be utterly uninteresting. After the novelty of exclaiming "Oh no, not A Paul Newman, THE Paul Newman!" to other enthusiasts wear off, what are you left with? An old watch.
All those saying that it should be in a museum need to spend more time in real museums. Places that exhibit works of genuinely creative talent influencing the minds and hearts of men through time or objects that are part of everyones cultural, human history. NOT some expensive trinket that has become even more expensive because it happened to be owned by an American celebrity.
The worst example of this pathetic trend is the attitude towards everything worn/driven/owned at some point by Steve McQueen. Apparently, owning a Heuer Chronograph will make you as cool as he was, so these are highly sought after by sad, middle-aged men who have accomplished nothing remotely interesting in their lives and hope that some of the (life)style associated with said actor will rub off on to them. It's the same men who usually have a weird fascination with Porsches and automobile racing. They ought to get out more.
Have a great weekend, everyone! 😀
I was hoping to win the watch so I can scrape off enough DNA to clone Paul Newman.
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ConElPueblo
·"Uninteresting" but interesting enough to comment on the thread twice?
The debate is good, the watch is uninteresting.
There you go - three times now 👍
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dennisthemenace
·Absolutely brilliant, we need a section devoted to the best rants
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E-diddy
·I believe the sale of this watch will not be for charity (no deduction for the buyer). I'm out.
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E-diddy
·Did you not read the any of the articles?
I read the WSJ and Hodinkee articles. I guess I missed the details. Did it say that the buyer will be able to consider it a charitable donation? The Nell Newman Foundation will receive a significant portion of the proceeds. However, could it be that the owner of the watch (Mr. Cox) receives the payment and is making the donation to the foundation?
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McJamesT
·I'm throwing my hat into the ring with a guess of $12.5m
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gatorcpa
··ΩF InvestiGatorApparently in this case almost completely.
Donors who purchase items at a charity auction may claim a charitable contribution deduction for the excess of the purchase price paid for an item over its fair market value. The donor must be able to show, however, that he or she knew that the value of the item was less than the amount paid.
- IRS WEBSITE
I read the WSJ and Hodinkee articles. I guess I missed the details. Did it say that the buyer will be able to consider it a charitable donation? The Nell Newman Foundation will receive a significant portion of the proceeds. However, could it be that the owner of the watch (Mr. Cox) receives the payment and is making the donation to the foundation?
The definition of the term, "Fair Market Value" as used in the context above means, "the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts."
In the case of a unique item, a public auction like this is really the only way to determine the fair market value based on the above definition. So logic would say that if the auction price is defined as the fair market value, then there can be no excess. Therefore, no tax deduction for the buyer.
However, if one or more of Mr. Newman's heirs donated the watch to the Foundation for the purpose of benefiting its mission, those individuals may be able to get at least a partial charitable deduction on the donation.
At least that's the law here in the US.
gatorcpa
P.S. - I've said several times on this and other forums that I would never pay the asking price on a "Paul Newman" Daytona, unless Mr. Newman himself rose from the grave to hand it to me. I think this may be as close as it gets.
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LouS
··Mrs Nataf's Other Sonalso I was mistaken, Clapton had an albino, not a panda daytona https://www.forbes.com/sites/elizab...ppe-smash-world-auction-records/#436fb8f944b1
You were mistaken, but not how you think. He did have a panda, but it was a Universal Geneve
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