Paul Newman's Rolex Sold For $17,8 Million

Paul Newman's Rolex Sold For $17,8 Million

Phillips has set a new world record for any wristwatch at auction with the $17,752,500 (£13,557,011) sale of American actor Paul Newman's Rolex.

Phillips in Association with Bacs & Russo, the worldwide market leader in watch auctions, is proud to announce that its inaugural NY sale realized $28,875,750 (CHF 28,806,448) - the highest total for a watch auction in United States history.

The vintage watch with an art deco-inspired dial was given to Newman by his wife, actress Joanne Woodward. The relationship between the man and the Swiss luxury watchmaker began in the late 1960's and early '70's when Newman first began to fall in love with race vehicle driving.

Newman is said to have worn the watch every day from 1969 to 1984.

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Dubbed among "Twelve of the Greatest Missing Watches" by Hodinkee in 2012, the Rolex has actually been in the possession of its owner, James Cox, for decades. The couple dated for almost a decade after first meeting in college. Mr. Cox, who was at the long-time boyfriend of Newman's daughter, was working on a treehouse with the famous actor in the mid-1980's.

"Pop handed James his Rolex and said, ´If you can keep in mind to wind this each day, it tells pretty good time, ´" wrote Nell in a signed letter accompanying the sale.

"It's a testament to the power of pairing an iconic watch with an iconic persona", Cadmus said of the record-breaking auction price. A portion of the $17.8 million will be going to the Nell Newman Foundation, an organization involved in sustainable agriculture and conservation efforts. Bloomberg noted Cox decided, in part, to sell it so some of the proceeds could benefit the Nell Newman Foundation, for which he serves as treasurer. "If you do not forget to wind it, it tells pretty good time'".

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