Well, it happened. The hammer has fallen on Paul Newman's very own Paul Newman Daytona, and it has become the most expensive watch ever sold at auction, fetching $17,752,500 (including buyer's premium) at Phillips in New York City. While many people thought the iconic watch would surely break records, likely beating the most expensive Daytona ever sold and the most expensive Rolex ever sold, it is still a surprise to see the iconic chronograph break the record for most expensive wristwatch. This is no joke, people.
You're now looking at the most expensive wristwatch in the world.
Until moments ago, the most expensive wristwatch ever sold publicly was a Patek Philippe 1518 in stainless steel, which was the very first serially-produced perpetual calendar chronograph. Only four were made in stainless steel and it wasn't shocking at all to see it reach eight-figure heights. The 1518 was also sold by Phillips in Geneva, and just a year ago in November 2016. While Paul Newman's Paul Newman certainly has the cool factor (provenance doesn't get better than this), for it to sell for more than this extremely rare, complicated watch is truly shocking – and I am most certainly clutching my pearls.
The Patek Philippe 1518 in steel formerly held the record of most expensive wristwatch ever sold at auction. It sold for $11 million at Phillips Geneva in November 2016.
Stay tuned for more on tonight's auction and for tons of follow-up coverage of this record-setting watch.