IT is the ultimate designer watch brand with their timepieces worn by the rich and famous all over the world as well as being desirable collectors' items.

Now a rare vintage example of one of the most sought-after watches will go under the hammer this week as its Scots owner has decided it's time to part with it and sail off into the sunset with his son.

Collectors from around the globe are expected to be interested in the live online auction on Friday, October 22, led by auction house Lyon & Turnbull. While experts won't be drawn on how much it could fetch, bidding is to begin at £45,000 and similar watches linked to Hollywood legend Paul Newman sold for seven and eight figure sums.

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The Rolex Daytona, originally released in 1963, is one of the most coveted watches on the market. Named after the Daytona International Speedway in Florida, which became a mecca for motorsport in the early 20th century, it was designed to meet the needs of professional racing drivers.

The Herald: Paul Newman was said to have worn his Rolex Daytona every day for 15 yearsPaul Newman was said to have worn his Rolex Daytona every day for 15 years

So sought-after is the elite timepiece that there is a waiting lists at Rolex dealers for the current model. Vintage and pre-owned examples achieve substantial sums at auction.

In 2017 an early Rolex Daytona belonging to the actor and racing car driver Newman, sold for $17.8m, (£13m) a world record for a wristwatch at auction at the time. Another later model owned by Newman, known as the ‘Big Red,' sold for more than $5million (£3.6m) in 2020.

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The piece on offer at Lyon & Turnbull this week is also a ‘Big Red’, the name reflecting larger red DAYTONA letters on the watch dial. The item is the key feature of the forthcoming Select Jewellery & Watches auction being hosted by company’s London gallery on Friday. This particular ‘Big Red’ dates from 1979 and comes with its own captivating biography.

One of two Rolex watches bought in Ayr by the vendor’s father as gifts for him and his brother, the boys swapped presents: the stopwatch function of the Daytona served the ship’s navigator son well whilst the other, who enjoyed diving, found the Submariner underwater model very useful.

A year after he received his watch, in 1984 the owner/navigator, who had extensive sailing experience and a professional navigation qualification, was given the chance to take part in the Transatlantic Tall Ships’ Race. He wore his treasured Rolex throughout.

Sailing as mate aboard the yacht, Aztec Lady, the ambitious race involved completing a full circuit of the Atlantic Ocean. Sadly the second leg was to end in tragedy when an unexpected and severe storm, around 60 miles north of Bermuda, led to the death of 19 members of the crew of the competing vessel, Marques, which sank. Aztec Lady was involved in the search for survivors.

The Herald: Collectors will have a keen eye on the Rolex DaytonaCollectors will have a keen eye on the Rolex Daytona

The current Daytona owner continued seafaring, eventually becoming a captain in the Merchant Navy. During his illustrious career he worked with SeaCat on its innovative and pioneering high-speed aluminium catamarans as well as with Stena Line’s high-speed ferries before finally retiring in 2020.

His decision to sell has been motivated by his own son. He says of his relationship with the watch and decision to offer it for auction: “My Rolex has served me very well in all conditions whether under sail, at work, or in social settings. However, as I realised the value of the watch and the potential for loss or damage, I stopped wearing it regularly and thereafter wore it only on special occasions. I gave my son the option of inheriting it but he opted for the proceeds to help buy a substantial sailing boat in which we can go voyaging together.”

Sarah Fergusson, Head of Watches for Lyon & Turnbull said: “The fact that the watch comes with its original papers makes it extremely valuable, as does the fact that we know the fantastic history of the wearer. It’s a delight to be selling a watch with such an interesting history. Being involved in the sale of such an amazing piece is a real highlight of my career.”

Bidding for the ‘Big Red’ will begin at £45,000.