The Monaco-based auctioneer Monaco Legend Group specialises in rare and collectible timepieces. Under the guidance of watch industry veteran Davide Parmegiani, the business has experienced annual growth in revenue. Today, Monaco Legend Group stands as one of the leading sources for collectors who want to obtain the finest watches available on the market.
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The highly anticipated October auction featured a total of 281 lots. While a few watches were expected to sell for just over $1 million, the star of the show was the 1969 Rolex Daytona Ref. 6263, which fetched $1.9 million (around £1.5 million), including buyer’s premium. Known as the 'Paul Newman', the Daytona became synonymous with the famous actor who frequently sported it on his wrist. For a Rolex Daytona to be known as a 'Paul Newman', it has to be a vintage timepiece with a special dial. A defining characteristic of Paul Newman dials is the three-colour combination of black, white, and red, with chronograph registers and minute track rings in contrasting colours, which gives a bold and eye-catching appearance to the watch.
See also: Two of Paul Newman's Rolex Daytona Watches Go to Auction
The auction featured multiple Paul Newmans, a rarity in itself. However, once again, the standout piece was the $1.9 million watch, distinguished by its unique tropical brown dial, which sets it apart from other Paul Newman models and gives it an exceptionally rare and distinctive appearance.
Speaking of other Paul Newmans, Monaco Legend Group proudly offered two exceptional Tiffany-stamped watches. For decades, Tiffany & Co.’s flagship store at Fifth Avenue served as an official retailer for numerous high-end watchmakers, including Rolex and Patek Philippe. Today, they exclusively sell Patek Philippe. Some of the watches they offer are stamped “Tiffany & Co.”, meaning that a watch can have two brand names on the dial, such as Rolex and Tiffany. This rarity is highly sought after by collectors, making Tiffany-stamped watches much more valuable than they otherwise would be.
See also: The 10 Most Expensive Watches Ever Auctioned
Two striking examples of 1968 and 1969 Tiffany-stamped Rolex Daytona 'Paul Newman' watches sold for $700,000 and $730,000, respectively. Notably, the ninth most expensive watch ever sold was a Tiffany-stamped Patek Philippe Nautilus Ref. 5711/1A-018, which sold for $6.5 million in 2021 - an impressive result for a watch that usually retails for $52,000.
