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Paul Newman’s very own 1968 Rolex Daytona sold at auction yesterday for a record $17.8 million. In doing so, it became the most expensive wristwatch ever sold at auction.
The 1968 Rolex Daytona was owned by Paul Newman himself but it was auctioned off by a former boyfriend of Paul’s daughter. James Cox said Paul Newman gave him the prized 1968 Rolex Daytona back in 1984.
What makes this particular watch so significant is how it ignited a cultural obsession with the Rolex Daytona after Paul Newman’s wife gave him the watch in the late 60’s after Paul filmed Winning. Interest spiked so much in this watch that it was the most sought-after watch by collectors in the world.
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You can see some more information on Paul Newman’s 1968 Rolex Daytona in this video which explains the historical significance of the watch:
Interestingly, a pocket watch holds the record for the most expensive watch ever sold. A 1933 Patek Philippe sold for $24.4 million at Sotheby’s Auction House back in 2015. Why would anyone ever spend more than four dollars on a pocket watch? I don’t have a clue. I fully understand the importance of Patek Philippe watches and why they’re so valuable, but I don’t get why anyone, anywhere would give two shits about a pocket watch.
Newman is said to have worn the original Rolex Daytona every day from 1969 to 1984, up until he gave the watch away to his daughter’s boyfriend, James Cox. The record-setting $17.8 million fee includes the buyer’s fees on the watch as well as the cut that the auction house will take.
If you want to learn more about Paul Newman’s Rolex Daytona you can also check out this video from Hodinkee: