Paul Newman's Rolex is now the world's most expensive watch

LOS ANGELES - Time may be money, but is it worth $17.8 million?

Paul Newman’s Rolex Cosmograph Dayton is officially the most expensive watch ever auctioned. The watch that was auctioned off at $17.8 million dollars was worn every day by Newman for 15 years.

It was a gift from his wife Joanne Woodward in 1968 with the words “Drive carefully” engraved on it in honor of Newman’s love of racing. The watch was passed down to his daughter Nell Newman’s boyfriend, James Cox in 1984. Despite Nell and Cox breaking up, they decided to join forces and put the watch up for auction. All proceeds go to the Nell Newman Foundation and Newman’s Own Foundation.

How much would you spend on a watch?