Particle.news
Download on the App Store
6 ARTICLES
·
2h ago

Coppola’s Co-Designed F.P. Journe Prototype Sells for $10.8 Million at Phillips, Setting Records

The consignment of seven personal watches follows losses on Megalopolis, signaling a broader effort to stabilize his finances.

Image
Image
Film director Francis Ford Coppola is selling his prized watch collection as part of a financial restructuring after he took a significant financial hit after the box-office failure of his self-financed 2024 film “Megalopolis.” 
Francis Ford Coppola and F.P. Journe FFC Prototype watch.

Overview

  • Francis Ford Coppola’s one-of-a-kind F.P. Journe FFC Prototype sold to an anonymous phone bidder for about $10.8 million after 11 minutes of bidding.
  • Phillips’ New York Watch Auction: XIII was declared the highest-grossing watch auction in history, with a 100 percent sold result in New York for a fifth straight year.
  • The $10.8 million price set a new auction record for F.P. Journe and for a watch by an independent watchmaker, and was the highest U.S. timepiece result since the 2017 sale of Paul Newman’s Daytona.
  • All seven Coppola watches consigned achieved strong results, including a Chronomètre à Résonance that realized about $584,500, according to Phillips.
  • Coppola’s sales follow his acknowledgment that he lacks liquid funds after self-financing Megalopolis, which cost roughly $120 million and grossed about $14.3–$14.4 million worldwide, with additional reporting of asset-backed financing steps.