The famous Rolex “Paul Newman” Daytona watch owned by Paul Newman himself has sold for the highest amount ever recorded in an auction for a timepiece.
Bidding for the watch, hosted by Phillips in Association with Bacs & Russo, started at a staggering $10 million. With more than 700 people in the room watching the auction take place, competing phone bidders went back and forth until the hammer price of $17.8 million was settled on by the winner. Total length of time spent bidding was 12 minutes.
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“It was an absolute privilege for Phillips to offer Paul Newman’s own “Paul Newman” Daytona – arguably the most iconic collector’s wristwatch of the 20th century,” said Aurel Bacs, Senior Consultant, and Paul Boutros, Head of Watches, Americas. “This record result is a testament to the historic importance and continued legacy of this Rolex, which is responsible for creating an entirely new market and inspiring a new generation of collectors.”
