Why a Rolex Watch was sold for $1 million

Golfer Jack Nicklaus 1967 Rolex wrist watch was sold for $1 million at an auction on Tuesday evening held by Philips in association with Bacs&Ruso.

The wrists watch which has appeared in countless photos dating back to 1967 when Rolex gave him the 18-karat-gold Day-Date watch.

Jack wore the wrists watch for over 50 years and during 12 of his majors. It adorned his wrist as he hoisted trophies, appearing in countless photos.

Proceeds of the sale will go to the Nicklaus Children’s Health Care Foundation, which works with pediatric hospitals across the U.S. to fight childhood illness.

The Watch is widely considered one of the three most important watches ever in sports. The most expensive watch ever sold at auction is a Patek-Philippe one-off timepiece that sold at a charity-auction for $31 million in November. Before that, the record-holder was Paul Newman’s Rolex Daytona, which sold for $17.7 million in 2017.

SOURCE: Nicklaus Companies