Paul Newman was once the most bankable movie star in the world and tonight at Phillips auction house in New York, he became the king of the watch world when his 1968 Rolex Daytona sold for $15.5 million. (Including the buyer's premium of 12.5%, the final price comes to $17,752,500.) The "Paul Newman Rolex Daytona" watch was sold to a buyer over the phone for $17.75 million, the highest price ever achieved for a wristwatch at an auction.
So what is so special about this WRIST WATCH?
Newman's own 'Paul Newman' Daytona—a gift from his wife, actress Joanne Woodward. "Many people are saying this is the greatest watch on the planet."
The Rolex Daytona has an unusual "exotic" dial design, and was dubbed the 'Paul Newman' in the 1980s because he was always seen wearing it, according to Paul Boutros, Phillips Senior Vice President and Head of Watches for the Americas. "It's a whimsical, art deco style dial," he said, "there are about 2,000 to 3,000 of this type of dial in the world." "In this case, the watch found us. The current owner, James Cox [a former boyfriend of Newman's daughter Nell, has owned the watch since 1984 when Paul Newman gave it to him," Boutros explained. Cox sought the advice of his lawyer when looking to sell the watch, Boutros said, and the attorney put him in touch with a watch collector, who recommended Phillips.