Rare Rolex watch owned by late Paul Newman goes under the hammer

The Rolex Daytona Cosmograph watch once owned by late Hollywood superstar Paul Newman goes under the hammer at Phillips in New York. The timepiece, described as a masterpiece, might fetch as much as U.S. $10 million at the auction because of its rarity and link to the auto-racing actor.

The auction follows a world tour for the Rolex to whip up interest. The New York Times, for one, sees little need for the tour as the watch is one of the most sought timepieces for collectors. It had been lost for years, adding to its allure.

Newman’s 1968 model was a gift from Joanne Woodward, his wife of 50 years, when the actor became consumed with auto racing. The back was engraved, “Drive Carefully, Me.”

As recently as three years ago, the watch site Hodinkee listed it as one of the 12 Greatest Missing Watches, alongside Pablo Picasso’s Jaeger-LeCoultre Triple Calendar, John Lennon’s Patek Philippe 2499 and Fidel Castro’s Rolex GMT-Master.