Published: Sat, October 28, 2017
Life&Culture | By Kristin Armstrong

Paul Newman's Rolex auctioned for $17.8 million

Paul Newman's Rolex auctioned for $17.8 million

"At that time, I knew Rolex was an wonderful brand, but I had no idea how significant the watch was".

In 1984, Newman gave the watch to James Cox, his daughter Nell's college boyfriend, who had no inkling that it would later become so valuable.

It certainly was magical when it ws on the block at the Phillips auction in NY, where it garnered an opening bid of $10 million and ended up going for $15.5 million to an anonymous phone bidder who will pay a total of $17,752,500 after fees.

So she gifted the actor an aptly-named Rolex Cosmograph Daytona timepiece and engraved the message "DRIVE CAREFULLY ME" on the back.

The "Paul Newman Rolex Daytona" watch was sold to a buyer over the phone for $17.75 million (15.3 million euros), the highest price ever achieved for a wristwatch at an auction.

European Union imposes more sanctions on North Korea
The statement refers to the visit to South Korea this week by Julie Bishop and Marise Payne during which they met their counterparts and visited the truce-village of Panmunjom.

Samsung's Connect Tag tracker lasts one week on a single charge
Samsung has launched its Connect Tag , the "world's first consumer mobile product to use narrowband network technology". Samsung hasn't shared when precisely it will start selling the device, or how much it will charge customers for it.

Opening Bell: Sensex and Nifty leaps on first day of Diwali week
Hong Kong's Hang Seng was trading higher by 0.94 per cent, while Shanghai Composite rose 0.14 per cent in late morning trade. Sectoral indices turned green across the board, with metal, realty and FMCG posting sizeable gains of up to 1.90 per cent.

In many ways, the late Paul Newman was the epitome of cool.

It was through a man named James Cox that the auction house, Phillips, received the watch.

When Joanne Woodward bought her husband a watch in the late 1960s, she couldn't possibly have foreseen how it could become the most expensive watch sold at auction nearly fifty years later. "If you do not forget to wind it, it tells pretty good time'". In an interview with the Wall Street Journal, Cox explained, "Paul asked me what time it was, to set his watch".

Step into any reputable watch boutique to enquire about a stainless steel Rolex Daytona and you'll most likely be met with endearing bouts of laughter.

Before last night, the most expensive wristwatch ever sold at auction was a Patek Philippe 1518, which featured the first serially produced perpetual calendar chronograph. You would think that such an important piece of timekeeping would have gone under the hammer for a lot more.

Like this: