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5h ago

Coppola’s One-of-a-Kind F.P. Journe Fetches $10.8 Million, Setting Multiple Auction Records

The sale follows the director’s cash squeeze after Megalopolis’ box-office failure.

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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 F.P. Journe FFC Prototype sold for about $10.8 million at Phillips’ New York Watch Auction XIII to an anonymous phone bidder after 11 minutes of bidding.
  • Phillips said the result is the highest U.S. auction price for a timepiece since the 2017 sale of Paul Newman’s Rolex Daytona.
  • The hammer price set a world auction record for F.P. Journe and a record for a watch by an independent watchmaker, according to the auction house and specialist coverage.
  • Coppola’s personal collection drew strong demand as all seven consigned watches sold, including a Chronomètre à Résonance that achieved $584,200, and the sale contributed to Phillips’ highest-grossing watch auction on record.
  • The auction comes as Coppola restructures finances after Megalopolis grossed roughly $14.4 million on a reported $120 million budget, and local reports say he has used San Francisco’s Sentinel Building as loan collateral and ended a Belize island lease.