The Record-Breaking Sale of Paul Newman’s Fake Rolex Daytona
In 2016, the vintage watch world was sent into a frenzy when Paul Newman’s iconic Rolex Daytona, missing for over three decades, resurfaced. The excitement reached its peak in October 2017 at Phillips’ first New York auction, where a whirlwind 12-minute bidding war culminated in a historic sale. An anonymous buyer, connected via telephone, secured the fake watch for a staggering $17.8 million, making it the most expensive Rolex ever sold and cementing its status as a horological legend.
This sale shattered the previous record for the most expensive replica Rolex, which had been held for just six months by the Bao Dai moon phase model. Newman’s Daytona, however, was no ordinary watch. It carried with it a rich history and an emotional narrative that elevated it far beyond its material value. The watch was gifted to Newman in 1972 by his wife, Joanne Woodward, to celebrate the beginning of his professional racing career. The back of the watch bore a heartfelt engraving: “DRIVE CAREFULLY ME.” This personal touch added an intimate layer to its already significant provenance.
In 1984, Newman passed the watch on to James Cox, his daughter Nell’s boyfriend at the time, in a gesture of generosity. Cox, unaware of the watch’s immense cultural and monetary value, wore it casually for decades. It wasn’t until a knowledgeable collector recognized the watch on Cox’s wrist that its true significance came to light. By then, Cox had become the treasurer of the Nell Newman Foundation, a charitable organization established by his former girlfriend to continue her father’s philanthropic work. The proceeds from the sale of the Daytona were pledged to support the foundation, ensuring that Newman’s legacy of giving would endure.
The auction itself was nothing short of a spectacle. The watch, long rumored to exist but rarely seen, was a symbol of the vintage watch market’s evolution. It was the very model that had ignited the craze for fake Rolex watches, and its connection to Paul Newman – whose name had become synonymous with the Daytona – only added to its allure. The astronomical price it fetched was a testament to its unparalleled significance in the world of horology.
While $17.8 million may seem like an extraordinary sum, it reflects the watch’s unique combination of history, rarity, and cultural impact. For now, this record-breaking sale stands as a benchmark in the world of luxury watches. It remains to be seen whether another Rolex – or perhaps even this very Daytona, should it reappear on the market – will surpass this figure. Paul Newman’s Rolex Daytona will forever hold a place of honor.
