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).