Paul Newman's Rolex watch sells for a record $17.8 million at auction

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(Phillips)

The most expensive Rolex just sold for $17.8 million on Thursday setting a new world record for a wristwatch.

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The Rolex Daytona belonged to the legendary actor Paul Newman and was sold to an anonymous bidder by the New York-based Phillips Bacs & Russo auction house.

The iconic 1968 Cosmograph Daytona watch was given to the actor by his wife actress Joanne Woodward while the two were working on the car racing film “Winning.”

A portion of the proceeds from the sale will go to the Nell Newman Foundation, a charitable organization established by his daughter Nell, with the goal of carrying on her father's legacy of charitable giving.

Newman is said to have worn the watch every day from 1969 to 1984.

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