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.
“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.”