PAOLO MARTEL AUCTIONS OFF P7M ROLEX DAYTONA ‘PAUL NEWMAN’
The actor Paul Newman made the Daytona extra popular when he wore them in his races. This is why certain models with the exotic dial are referred to as a ‘Paul Newman.’
There is this legend that the Rolex Daytona, now one of the most soughtafter Rolexes in history, was originally a piece that they couldn’t get off the shelves — until actor and motorsports enthusiast Paul Newman wore it on the cover of an Italian magazine. Considered one of the more exotic Rolex watches because of its design, the handsome but subtle-by-comparison Rolex Daytona “Paul Newman,” as it has come to be known, continues to grow in value every year. Here comes the exciting part: the soughtafter Rolex Daytona (6263) is part of a collection, which is on view to the public until Sept. 22. The Paul Newman, along with other sought-after timepieces, fine jewelry and vintage automobiles, will be up for auction at the Rigodon Ballroom of The Peninsula Manila on Sunday, Sept. 24.
Paolo Martel, who is responsible for sourcing and curating pieces for the Fine Jewelry and Timepieces collection, tells me the story of the piece: “The Rolex Daytona Paul Newman was owned by a gentlemen from Germany who was married to a Filipino,” he says. “This watch was purchased in Singapore in 1970 for a little over US$700 by his wife as a gift. It is interesting to note that somewhere around the same time, his wife also bought him a Rolex Cellini, which we are offering in the same auction — Lot 559 in our catalogue. At that time, the Cellini was more expensive since it was gold. Today the Daytona is worth at least 35 times more compared to the Cellini. When the gentleman passed on, his wife gave the watch to their niece who is now selling the piece. Our client never even realized the value of this until it was brought to us for a complimentary valuation. It was very interesting since she had several photos of the owner wearing it back in the ‘70s.”
He adds, “Rolex in itself is one of the most respected names in the world. It has an unbelievable following. The Daytona is legendary and adored by so many collectors for a number of reasons — with its chronograph function, the history of the watch and, aesthetically, I personally think it’s one of the best watches to look at. The actor Paul Newman made the Daytona extra popular when he wore them in his races. This is why certain models with the exotic dial are referred to as a ‘Paul Newman.’ What’s interesting is the actual watch of the actor is going to be auctioned off in November in New York and some have predicted that it could sell for US$10 million. I am confident that, after that sale, the demand for the Daytona will be much more. The availability of the steel models as well as the vintage models has been very scarce. More so the models with the Paul Newman dial which are extremely hard to find. Of all the Daytona models the 6263 Panda is the most sought after because of the black bezel and many think it has the best-looking dial. If you track how the value has increased over the years you will understand why this watch is investment grade. To have one in our auction in such great condition is truly a privilege and just completely raises the bar.”
Stories like these accompany most items in the collection, which Paolo says includes some of the best pieces they’ve ever offered. There’s definitely an emotional aspect to collecting rare vintage items. Paolo’s wife Cristina, also at the opening reception of The Well Appointed Life, shared that auctions can get pretty heated. “It’s like shopping, when you see something you like, you have an emotional connection to it, and they can get competitive.”
For this event, Paolo considered a number of factors, such as brand and model, when sourcing and curating the exhibition. The exhibition also includes an A. Lange & Sohne Datograph Perpetual Calendar in Platinum, four complications from Patek Philippe, and a never-worn IWC Tourbillion. From Rolex, there is a 5514 Submariner expressly made for Comex never meant for public sale, a 5512 tropical gilt dial with square crown guards of which only 100 were made. “These are extremely rare pieces and I am amazed that we have them and the Paul Newman all in one sale,” says Paolo.
The fine jewelry collection includes a flawless 19.41ct and 17.99ct unheated pear-shaped green tourmaline with brilliant white diamond pendant earrings and a 3.53ct unheated cushion deep royal blue Burmese sapphire and diamond ring. “These are pieces that are sought after by collectors around the world for so many reasons. They are an alternative investment class in my opinion with great liquidity. I always comment that holding some of these items will probably give you better returns than parking your money in the bank. Plus they are investments you enjoy and can live with. They are conversation pieces of the finest quality and do not follow trends and have consistently increased in value,” says Paolo.
Paolo, who was exposed to his father’s collection of cars and watches at a young age and is one of the founders of C! Media Group, which publishes leading car and watch magazines, has a low-key and inviting way of explaining the world of fine objects to other people, always encouraging viewers to try on and experience the items. Paolo says, “We encourage and support those who are only about to start their journey of collecting. Through our website and online platforms we have the ability to cast an even wider net and reach people globally. The Well Appointed Life is for anyone who appreciates the finer things in life whether it be art, timepieces, jewelry, decorative objects, or automobiles.” He adds, “It’s a constant learning process and over time you develop a deeper appreciation. It also helps when I talk to other collectors and experts here and abroad, and doing a lot of research of course. Every object has its own character, story or personality. As long as you keep your curiosity, you discover more and learn about what makes each piece special.”
The Well Appointed Life is co-presented by The Peninsula Manila and Santos Knight Frank, with major partners Lexus, Globe Platinum and Singapore Airlines, and premium audio partner Bowers & Wilkins. The auction will be held at the Rigodon Ballroom on Sept. 23 for the Connoisseur Collection and Important Philippine Art, and Sept. 24 for Fine Jewelry & Timepieces.