Paul Newman’s Rolex Daytona up for auction

The iconic Rolex watch Paul Newman made famous is up for bidding, starting at $1 million, and it might bring a lot more in a charity auction Oct. 26.

The timepiece was a gift from the Westport movie star’s wife, actress Joanne Woodward. When Newman started racing cars after starring in the 1969 film “Winning,” Woodward was not too happy about it. But in a show of support, she gave him the watch, which was designed specifically for racing. On the back, the phrase “DRIVE CAREFULLY ME” was inscribed.

“A woman of exceptional taste, she chose a rare and exclusive version of the Cosmograph Daytona — a reference 6239 fitted with what the brand called an ‘exotic’ dial,” according to a news release from Phillips, the house that’s handling the auction.

In the 1980s, watch collecting became big, and Rolexes with the “exotic dial” became known as the “Paul Newman Daytona.”

“In the world of collectible watches there is probably no model that is as sought after; there is no one more coveted,” said Paul Boutros, the head of Phillips. “(Newman) was seen wearing the watch in pictures all around the world ... Once they assigned the name, the prices rose.”

After Newman’s death in 2008, the watch world and Newman fans began to wonder where the original Paul Newman Daytona was.

As it turned out, Newman had given the watch to his daughter’s boyfriend.

James Cox spent much of the summer of 1984 building a tree house at Newman’s Westport home. At the time, Cox was dating Newman’s daughter, Nell.

“I remember that summer very well,” said Cox. “There I am, 18 or 19 years old, living in Connecticut at my girlfriend’s house — it’s Paul Newman but he’s also my girlfriend’s dad.”

One day, Newman saw that Cox did not have a watch, and gave him the Rolex.

“At the time I knew this watch was symbolic of an intimate moment for them, and for him to give it to me was like ‘wow you’re giving me a family heirloom,’ ” Cox said.

He didn’t realize until years later was how famous that watch had become.

Cox and Nell Newman dated for 10 years and remained close friends. Cox said he kept the watch under wraps for a while, out of respect to the family.

About a year ago, Cox and Nell Newman met to discuss its “iconic value,” he said.

“If your dad was alive and I went to him, the first thing he would say would be ‘this watch should be used for something good,’ ” Cox said he told her.

Interest in the watch is high, with some speculating it could bring into the millions at auction. A portion of the proceeds will go to the Nell Newman Foundation, which supports her father’s philanthropic interests as well as sustainable agriculture. Another portion of the auction take is designated for the Newman’s Own Foundation.

“Paul Newman was just a super cool guy who rolled through the planet. (He showed us) we can make choices in our life to be generous and philanthropic,” Cox said

“In Westport, I think a lot of people have that sense of Paul in their community ... (But) most of the young people I meet don’t even know who Paul Newman is, and I feel like there’s reason to shake the trees and bring him back into attention.”

Phillips got hold of the watch thanks to Aurel Bacs, head of the auction house’s watch collection. When Bacs heard that the watch had been located, he flew from Switzerland to California, where Cox now lives.

“To find the Paul Newman Daytona is like a holy grail piece,” said Boutros.

“It’s bittersweet for me, because it’s a super personal gift that I would love to keep, but seems irresponsible to squirrel it away in a sock drawer,” said Cox.

Boutros said he expects an atypical auction crowd for the watch.

“Because Paul Newman is such a cultural icon, famous not only in Hollywood, but in race car driving and philanthropy, we think people will come from watch collecting, art collecting, car collecting — it’s going to be fascinating to see who ends up bidding,” he said.

“You just don’t know if some billionaire is going to say ‘I gotta have it,’” said Cox. “We kind of hope so because it will make history; and the more we make, the more we give to charity.”

New York Times The original Paul Newman Rolex Daytona, which was a gift from Joanne Woodward, Newman’s wife, when he became consumed with auto racing.