The most expensive Rolex ever fetches $17.8M

  • The most expensive Rolex ever fetches $17.8M

The most expensive Rolex ever fetches $17.8M

Phillips" inaugural NY watches auction "Winning Icons - Legendary Watches of the 20th Century' was led by Paul Newman Daytona, sold for exactly $15.5-million (13.4 million euros), with the buyer's premium the final price of $17,752,500 (15.4 million euros).

Woodward presented Newman with the wristwatch after he starred in the 1969 movie "Winning" in which he played the role of a racing driver. But then again, her husband was no ordinary man.

The late Paul Newman is know for more than ranch dressing. After the movie, he made a decision to take up the sport of motor racing himself, leading to his wife presenting the Rolex Daytona to him, with the words "DRIVE CAREFULLY ME" engraved on the back.

Cox dated Nell Newman, Paul's daughter, when the two were in college, and one afternoon during the summer of 1984, while he was helping fix the Newman family treehouse, the actor asked him for the time.

Cox described wearing it as "magical", but put it away in recent years as its value rose.

The Rolex Daytona belonged to the legendary actor Paul Newman and was sold to an anonymous bidder by the New York-based Phillips Bacs & Russo auction house.

At $17.8 million, Newman's Rolex isn't the most expensive timepiece ever auctioned.

A portion of the proceeds from the sale will go to the Nell Newman Foundation, a charitable organization established by his daughter Nell, with the goal of carrying on her father's legacy of charitable giving.

But if it´s the most expensive wristwatch sold at auction, a handcrafted Patek Philippe pocket watch made for NY banker Henry Graves remains the most expensive overall, fetching more than $24 million at Sotheby´s in 2015. "If you wind it, it tells pretty good time".

In 1984 it seemingly disappeared from Newman´s wrist when his wife bought him a new watch, a black, non-exotic dial Cosmograph Daytona. Cox said at the time he knew Rolex was an excellent brand, but he didn't realize the significance behind the watch.

The timepiece was so "rare", so "famous" and so "legendary", that watch collectors and dealers exhausted of adjectives and turned to full-throated phrases.

Dubbed among "Twelve of the Greatest Missing Watches" by Hodinkee in 2012, the Rolex has actually been in the possession of its owner, James Cox, for decades.