PAUL NEWMAN’S DAYTONA ROLEX SELLS FOR A RECORD $17.8 MILLION

A Rolex watch the previously belonged to Paul Newman recently became the most expensive watch ever to be sold. At a recent auction, the watch sold for $17.8 million USD.

The auction: The stainless-steel Daytona Rolex was the main draw at a special 50-lot evening sale dubbed “Winning Icons — Legendary Watches of the 20th Century” at Phillips auction house.

Why this matters: The timepiece had been estimated at more than $1 million. The previous record for a wristwatch belonged to a stainless-steel Patek Philippe that sold for $11.1 million at Phillips in November. Newman originally received the watch as a gift from his wife, actress Joanne Woodward. The two starred together in the 1969 movie “Winning,” which sparked Newman’s successful racing career. The wristwatch has a white dial, three black subdials, a red outer track and Woodward’s engraving on the back: “DRIVE CAREFULLY ME.”

And the winner is: Newman’s watch went to a bidder on the phone who wanted to remain anonymous the auction house said. The auction lasted 12 minutes with the first bid coming in at $1 million USD, which was immediately followed by a $10 million USD bid.