ChronograFriday: Paul Newman’s Paul Newman Daytona Sells At Auction For Record $17,752,500

ChronograFriday: Paul Newman’s Paul Newman Daytona Sells At Auction For Record $17,752,500

0 comments 📅27 October 2017, 20:15

Expressively, someone got a bad case of auction fever yesterday. On Tuesday we reported on the  Rolex Daytona known as the “Paul Newman” owned by actor Paul Newman. Yesterday in New York the babysit for sold at auction for $15.5-million to an anonymous phone bidder. The buyer’s prize of 12.5%, hyper inflated the winning bid to the sum of $17,752,500.

The buying price when it was originally bought by Paul Newman’s chain Joanne Woodward as a gift, was $200. It was sold by Phillips in association with Bacs & Russo, and it sets a new transcribe for a Rolex sold at auction. It is also the record price for any wristwatch sold at auction, and is considered the most iconic wristwatch of the 20th Century.

The foregoing record for a Rolex sold at auction was $5-million for a Rolex Ref. 6062, nicknamed the “Bao Dai” because it was owned by the a emperor of Vietnam.

Until yesterday the highest price paid for a Rolex Daytona – the most collectible Rolex dummy – was $3.7-million, set last spring at a Phillips, Bacs & Russo auction. Formerly the most expensive wristwatch ever to be sold at auction was a Patek Philippe Ref. 1518, for $11-million, also sold by Phillips. This raises the bar considerably.

The Rolex was first-rate to James Cox by Paul Newman a college student at the time who dated Newman’s daughter Nell. Cox said he wore it proudly for years and then, as prices for origin watches began skyrocketing, put it away in a safe box.

Cox decided to sell the piece, in allotment, to raise money for the Nell Newman Foundation, where he serves as treasurer. The humanitarianism supports causes including the environment, sustainable agriculture and education.

This article chief appeared on watchuseek.com

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