A Rolex Daytona owned by Paul Newman has shattered the world record for the highest price ever paid for a wristwatch.
Phillips auction house in New York, which has been marketing the story of the timepiece around the world all year, took just 12 minutes to bring the hammer down on a price of $15.5 million (£11.85m).
The price eclipsed the previous record for a Rolex of $5 million paid for a reference 6062 ‘Bao Dai’ Rolex earlier this year.
The most expensive wristwatch ever sold until yesterday was a Patek Philippe ref. 1518 timepiece, which Phillips sold for $11m.
The anonymous winning bidder was not in the sale room last night, which was packed with 700 enthusiasts from around the world, according to Phillips.
“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,” said Paul Boutros, head of watches, at Phillips Americas.