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The most expensive Rolex ever fetches $17.8M

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New York auction house Phillips sold a Rolex Daytona for $17.8 million, the largest ever price for a wristwatch at auction.

The Rolex was gifted to actor Paul Newman by his wife around the time he was filming the auto racing movie "Winning" in the late 1960s. His use of the watch spurred craze among watch fans, who lent his name to that particular style of Rolex dial.

James Cox, a former boyfriend of Newman's daughter, Nell, put the original 1968 "Paul Newman" Daytona up for auction. Cox said the actor gave him the watch in 1984.

Read more from CNNMoney.

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