In this week’s episode of LIQUOR RUN, Christian and Rolly dive into one of Elvis’ personal watches – a diamond bezel, white gold, TIFFANY stamped Omega!
So we all remember the auctioning off of Paul Newman’s Paul Newman (thanks Philips), and now, the auction house is bringing forth another major piece of popular culture – a Tiffany stamped Omega with a diamond bezel. While Paul Newman’s Daytona sold for upwards of $18 million, experts are claiming that Elvis’ Omega won’t reach anywhere near those numbers. But why? Elvis is undoubtedly a more important, more “famous” icon of our culture in America, possibly in the world, and to own something that belonged to the King would SURELY be a huge deal. So where is that disconnect coming from?
Here’s where part of the issue comes in – Rolex, as a brand, certainly is more recognizable to the general public than Omega (as in, I say “Rolex,” you say “Submariner.” I say “Omega,” you say “James Bond.”). The public perception of the brands is just different. Add to it the fact that the Daytona was a steel sports chronograph, versus the precious metal dress watch with freaking diamonds, and it’s easier to see which will capture the hearts and minds of the predominantly male watch world.
Beyond all of that, though – there’s just more of Elvis’ stuff floating around out there than there is stuff that belonged to Paul Newman. Elvis was notorious for giving people the rings off of his fingers at the drop of a hat, which would then be replaced with a new purchase that would, inevitably, be given away not too long in the future. His stuff is everywhere. When you find a market flooded with a famous person’s belongings, the intrinsic value of those belongings goes down because they aren’t “rare” enough to demand a premium. As such, I see where they’re coming from when they say it won’t sell as well as Paul Newman’s Daytona.