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.”