I wish someone would explain the Daytona hysteria to me. It's a nice watch with an excellent movement but I just don't get paying the kind of money that could get you some amazing APs, VCs, or Lange & Sohne's. I'm not being facetious - I really don't get it. I mean OK you've got the Paul Newman connection. My question boils down to this: is the Daytona famous for anything other than being famous?
Sure, it's simple.
1. You've got people who were waitlisted forever on the last gen Daytona (raises hand) for 10+ years who now are a bit older, a bit wealthier, and no longer need to go the AD route- especially since they threw out the waitlist for the old gen and created band new ones for the Ceramic. They have the cash and they can spend it. They aren't motivated by the mania. They are just out of patience.
2. You've got people who were praying to God for decades that Rolex would un-do the design decision (raises hand) back in the 80's to punt the black bezel and go all-steel. For those on the fence on the Daytona, just something about it they didn't like back in 2015, that black bezel makes an enormous difference, makes it look like a Sports watch again and not a more complicated Datejust.
3. You've got people who love their Submariner's so much that they've inadvertently overdosed on them (raises hand) and have found 20 years in a Sub a little rote, a little repetitive, a little boring. The Black Daytona is the more edgy and slightly more blingy step-up to the Submariner and it's completely made them excited again.
4. Outside of the world of Rolex, most of us just don't like the watches from PP, AP, VC, or L&S. You may think those brands have watches that are amazing, and that's your right, but understand that there are millions of us who only buy Rolex and so we don't even consider those other brands. It's not about 'comparative value' when you have no interest in anything but Rolex. If anything, paying $25K for a SS Daytona is a bargain compared to a SS PP Aquanaut, might actually incentivize a Rolex fan to splurge on the Daytona he's always wanted because it's half the price of the nicest Patek he's seen.
5. Before you go there, same argument applies for precious metals. Millions of us disregard gold and platinum watches outright as they are heavy, scratch easily, and lose their value over time. So eventually when a stainless steel Daytona has a fair market value in excess of a TT or gold Daytona down the road, that's the reason why. Again, there is no such thing as 'comparative value' if you are not interested in the item your grail is being compared to.
So, it's not hype and it's not some Newman auction. For those who don't understand Rolex or the Daytona it's an easy answer. These aren't Air Jordan's or Supreme. It's all about millions of Rolex fans, millions of Submariner fans, millions of Vintage fans. Add it all up, the Daytona Ceramic tics all the enthusiasts boxes and it's actually quite attainable for someone who wants it badly enough. I paid MSRP plus a Datejust collecting dust in my sock drawer. It wasn't a difficult decision at all.