Monday, 20 November, 2017
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Philips

Phillips wristwatch beats own auction world record with $17.8m sale

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.

This took place at Phillips’ inaugural New York auction, ‘Winning Icons – Legendary Watches of the 20th Century’ in association with auction house Bacs and Russo. The sale of the “Paul Newman” Daytona was a result of a 12 minute bidding war, and was sold to an anonymous bidder on the phone.

A portion of the proceeds will benefit the Nell Newman Foundation and Newman’s Own Foundation.

The watch auction house saw a total sale of $28,875,750 (£22,062,430) – the highest total for a watch auction in US history.

The event attracted global participation from collectors across 43 countries, and a packed saleroom of nearly 700 people.

Aurel Bacs, senior consultant, and Paul Boutros, head of watches, Americas, said: “It was an absolute privilege for Phillips to offer Paul Newman’s own “Paul Newman” Daytona – arguably the most iconic collector’s wristwatch of the 20th century. This record result is a testament to the historic importance and continued legacy of this Rolex, which is responsible for creating an entirely new market and inspiring a new generation of collectors.”

About Shekina Tuahene

Shekina Tuahene

Shekina is a multimedia journalist who has lived in London all her life. She is an alumnus of University of Greenwich and Brunel. Shekina loves to read, travel, socialise and listen to music. If you have any story or feature ideas, feel free to drop her a line.

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