What do you get when one of the most sought after watches in the world, sells with box and papers and better yet- comes from the original owners family?
A near record price for the watch.
The watch we are talking about is the Rolex Daytona Paul Newman – made famous by the legendary actor who appeared in films like Cat on a hot tin roof and sundance kid. Paul Newman had numerous hobbies besides acting and loved racing cars- this was the actors primary hobby (along with making homemade marmalade).
It was only natural that Paul Newman took a liking to the Daytona Rolex (named after the famous racetrack in Florida). Rolex marketers of course jumped all over the connection between Newman and the Daytona watches he collected. Rightfully so, because what better why to authenticate a watch than to have one of the most iconic American actors wear them while he was racing cars.
The above watch Ref 6263 made in 1971 is especially sought after with the white dial and black circles contrast. Estimated at CHF 65-85’000 the watch ended up selling for more than 3x the low estimate hammering at CHF 212’500 at the Geneva sale in March of Antiquorum.
That’s right.
Nearly a quarter of a million USD for a watch that was a failure when introduced and could be bought for as little as $300 in the 1980s. For more details of the watch click here. If you interested in learning about Paul Newman and the Daytona connection we recommend this blog here.
Concluding thoughts
In our post in December titled ‘Is Rolex finally catching up with Patek‘ we noted the strength of the Rolex market in 2012.
This trend looks set to continue as collectors pay whatever it takes to buy the best lots, that come from the original owners family and with box and papers. You see Original Owners family is valuable because it to some degree ensures that the watch remains in mostly original condition.
So we see no reason why Rolex cannot continue to set records. For Lots that are in top condition and come from the original owners family – record prices are virtually assured.
