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Why Paul Newman's Rolex Daytona Sold for $17.8 Million
Paul Newman owned a special Rolex watch connected to his love of racing.
His wife, Joanne Woodward, gave it to him around 1968.
The back was engraved with the words “Drive Carefully Me.”
Newman actually wore the watch for many years instead of keeping it hidden.
It had a distinctive dial that collectors later came to prize.
After disappearing from public view, the watch was given to James Cox.
Cox eventually sold it at a 2017 auction in New York.
It fetched US$17.7525 million, including the buyer’s fee.
People valued it mainly because of its story, rarity and connection to Newman, not because it was made of expensive materials.
Paul Newman's Rolex Cosmograph Daytona reference 6239 sold for US$17.7525 million in October 2017.
Joanne Woodward gave Newman the stainless-steel watch around 1968 with the engraving “Drive Carefully Me.”
Newman wore the watch while racing and in everyday life, giving it documented personal provenance.
Its exotic cream-colored dial, originality, rarity and celebrity history made it exceptionally valuable to collectors.
The sale, conducted by Phillips in association with Bacs & Russo, set a wristwatch auction record at the time.
- Who
- Paul Newman owned the watch; Joanne Woodward gave it to him, and James Cox later consigned it for auction.
- What
- A Rolex Cosmograph Daytona reference 6239 sold for US$17.7525 million.
- Where
- The auction took place in New York.
- When
- The watch was given to Newman around 1968 and auctioned in October 2017.
- Why
- Its value reflected its provenance, originality, rarity, distinctive dial and connection to Newman’s acting and racing life.
Key facts
- Auction price
- US$17.7525 million, including the buyer’s premium
- Auction date
- October 2017
- Auctioneer
- Phillips in association with Bacs & Russo
- Watch model
- Rolex Cosmograph Daytona, reference 6239
- Material
- Stainless steel with a black leather strap
- Personal engraving
- “Drive Carefully Me”
- Auction significance
- A world auction record for a wristwatch at the time
Sources
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