Francis Ford Coppola’s Custom Watch Sells for $10.8M Post-Megalopolis
Francis Ford Coppola’s custom watch has achieved a remarkable sale price of $10.8 million. The unique timepiece, known as the F.P. Journe FFC Prototype, was co-designed by Coppola himself. It was sold during a noteworthy auction held by Phillips in New York.
Details of the Auction
The auction took place on a Saturday and featured a total of seven luxury watches. The F.P. Journe FFC Prototype attracted significant attention and sold to an anonymous phone bidder after an intense 11 minutes of bidding.
Significant Milestone in Horology
This sale marks a historic achievement, as it represents the highest price ever paid for a watch at auction in the United States since the sale of Paul Newman’s Rolex Daytona in 2017. Paul Boutros, deputy chairman and head of watches for the Americas at Phillips, commented on the extraordinary significance of the watch. He stated:
- It embodies the pinnacle of creativity between two brilliant minds in filmmaking and watchmaking.
- There was substantial global interest prior to the auction.
- He expressed satisfaction with achieving a world record result at Phillips’ New York saleroom.
Coppola’s Financial Struggles
The sale comes at an especially challenging time for Coppola. His recent film, Megalopolis, has faced a disappointing box office performance, grossing just $14.4 million worldwide against a production budget of $120 million.
Personal Impact
The Oscar-winning director financed the project himself, which has led to significant personal financial strain. In a recent podcast appearance, he candidly expressed his financial challenges, stating:
- “I don’t have any money because I invested all the money that I borrowed to make Megalopolis.”
- He anticipates that his investments may yield returns over the next 15 to 20 years.
Coppola wore the custom watch during the film’s premiere at the Cannes Film Festival in May 2024. The timepiece was previously estimated to be worth at least $1 million.
