Paul Newman's Rolex Sells for Record

Paul Newman's Rolex, a highly sought-after timepiece, achieved a record sale price of $17.8 million at an auction conducted by Phillips Bacs & Russo in New York. This particular watch, known as the Rolex Daytona, was originally gifted to Newman by his wife, Joanne Woodward, and has since become an iconic symbol of both luxury and celebrity culture. The watch's provenance, combined with its association with Newman, a celebrated actor and philanthropist, significantly contributed to its value. The auction attracted considerable attention from collectors and enthusiasts, highlighting the growing market for vintage watches and the increasing willingness of buyers to invest substantial sums in unique pieces with historical significance. The sale underscored the trend of luxury watches being viewed not just as timekeeping devices but as valuable assets that can appreciate over time. The record-breaking auction price reflects the intersection of celebrity culture and the luxury watch market, where items once owned by famous individuals often command premium prices due to their backstory and rarity.