Emerson Phillips
The most expensive Rolex watch ever auctioned – fetching a staggering $17.8 million – was the 1968 Daytona chronograph owned by the late actor, race car driver, and philanthropist Paul Newman.
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It’s one of the most recognized watches in the world, and it was known as the ‘Exotic’ Daytona. It featured a unique cream, red, and black dial. But obviously it was the watch’s distinction of being owned by Newman that drove the value at auction to such a lofty amount.
“Daytona” is the name given to a line of Rolex high performance timepieces. The Rolex Daytona Paul Newman is just one variety of this ubiquitous Rolex favorite.
Newman owned it for 15 years and wore it often.
The Cosmograph Daytona was created expressly for him to wear while actually driving in professional motorsports, and that alone adds considerable value. The watch was a gift from his wife, Joann Woodward. The caseback was engraved with “Drive Carefully, Me”, making it even more special.
Newman embodied style, manliness, and class. And those same qualities are now associated with Rolex.
It was auctioned off by Phillips Auction House, and a prompt initial bid of $10 million dollars sent the crowd of 700 into a frenzy. The bidding battle continued for 12 minutes.
“Many people are saying this is the greatest watch on the planet,” said Geoff Hess, CEO of Analog Shift and a vintage Rolex collector. “This watch transcends watch collecting, it transcends the watch community.”
“This watch appeals to people way beyond the watch world. I don’t recall a watch that has roots and ties in so many [collecting] communities, and it’s an incredibly potent mix,” Hess continued. “It of course attracts those who love and admire motor sports and cars, it also appeals to people who love Hollywood memorabilia. It’s also a piece of Americana, so it appeals to the American history community.”
The watch is considered the Holy Grail of watch collecting.
