Francis Ford Coppola's Custom Watch Sells at Auction for $10.8M After 'Megalopolis' Financial Setback
The custom watch designed by Francis Ford Coppola, an F.P. Journe FFC Prototype, sold for a staggering $10.8 million at a Phillips auction in New York. This one-of-a-kind timepiece, which Coppola co-designed, was part of a collection of seven watches offered at the auction. The sale marks a significant achievement, becoming the highest price ever for a timepiece at an auction in the U.S., surpassing the previous record set by Paul Newman's Rolex Daytona in 2017.
The auction's success is particularly notable given Coppola's recent financial struggles. The Oscar-winning filmmaker took a substantial financial hit with his 2024 film, 'Megalopolis,' which grossed only $14.4 million worldwide despite a $120 million budget. Coppola funded the film with his own money, and he was seen wearing the watch at its Cannes premiere in May 2024, estimated to be worth at least $1 million. In a recent podcast appearance, Coppola revealed his financial situation, stating, 'I don’t have any money because I invested all the money that I borrowed to make 'Megalopolis.' It’s basically gone. I think it’ll come back over 15 or 20 years, but I don’t have it now.'
The sale of Coppola's watch not only showcases the value of his creative collaboration with F.P. Journe but also provides a glimmer of hope for the filmmaker's financial recovery. As Coppola continues to navigate the challenges of the film industry, this auction result may offer a much-needed boost to his financial situation.
