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Francis Ford Coppola Sells $10.8 Million Watch After 'Megalopolis' Box Office Disaster

MarketDash Editorial Team
4 hours ago
The legendary director auctioned off a custom F.P. Journe prototype and six other timepieces after his self-funded epic film crashed at the box office, grossing just $14.4 million against a $120 million budget.

When your self-funded passion project bombs at the box office, sometimes you have to sell the watch off your wrist. That's exactly what Francis Ford Coppola did this weekend, auctioning off a one-of-a-kind F.P. Journe FFC Prototype for a cool $10.8 million.

The custom timepiece sold Saturday at Phillips' New York auction after 11 minutes of competitive bidding, according to The Hollywood Reporter. An anonymous buyer walked away with what's described as the only F.P. Journe creation based on someone else's idea—Coppola co-designed the watch himself, making it unique in the legendary watchmaker's collection.

The sale shattered records, becoming the highest price ever achieved for a timepiece at a U.S. auction. The previous titleholder was Paul Newman's Rolex "Paul Newman" Daytona, which sold in 2017.

This wasn't just about cashing in on a valuable asset. Coppola needed the money. His epic film "Megalopolis" crashed and burned at the box office, grossing a mere $14.4 million against a $120 million budget that he personally funded. That's not a rounding error—that's a financial catastrophe.

"We were thrilled by the result of Francis Ford Coppola's F.P. Journe FCC Prototype. The importance of this watch, which represents the ultimate creative collaboration between two of the greatest minds in cinematic and horological history, cannot be overstated," Paul Boutros, deputy chair and head of watches, Americas at Phillips, reportedly said in a statement to The Hollywood Reporter.

Earlier this year, Coppola admitted he was short on cash after borrowing money to finance the film. The watch he wore to the "Megalopolis" premiere at the Cannes Film Festival in May 2024 became a way to replenish funds for future artistic projects.

The 42-millimeter platinum piece has a futuristic, almost steampunk look with metallic plates and screws that evoke medieval gauntlets, according to Mansion Global. The prototype features a blackened titanium hand and tiny visible tool marks, with Coppola's name engraved on the back—all confirming its status as a genuine prototype.

But Coppola didn't stop at one watch. He sold six additional timepieces at the auction: an IWC Portugieser Chronograph for $21,590, an F.P. Journe Chronometre à Resonance for $584,200, a Patek Philippe World Time for $88,900, and a Breguet for $60,960, according to the Phillips website.

When you add it all up, that's a serious injection of capital from a watch collection—though probably not enough to make another $120 million movie anytime soon.

Back to News

Francis Ford Coppola Sells $10.8 Million Watch After 'Megalopolis' Box Office Disaster

MarketDash Editorial Team
4 hours ago
The legendary director auctioned off a custom F.P. Journe prototype and six other timepieces after his self-funded epic film crashed at the box office, grossing just $14.4 million against a $120 million budget.

When your self-funded passion project bombs at the box office, sometimes you have to sell the watch off your wrist. That's exactly what Francis Ford Coppola did this weekend, auctioning off a one-of-a-kind F.P. Journe FFC Prototype for a cool $10.8 million.

The custom timepiece sold Saturday at Phillips' New York auction after 11 minutes of competitive bidding, according to The Hollywood Reporter. An anonymous buyer walked away with what's described as the only F.P. Journe creation based on someone else's idea—Coppola co-designed the watch himself, making it unique in the legendary watchmaker's collection.

The sale shattered records, becoming the highest price ever achieved for a timepiece at a U.S. auction. The previous titleholder was Paul Newman's Rolex "Paul Newman" Daytona, which sold in 2017.

This wasn't just about cashing in on a valuable asset. Coppola needed the money. His epic film "Megalopolis" crashed and burned at the box office, grossing a mere $14.4 million against a $120 million budget that he personally funded. That's not a rounding error—that's a financial catastrophe.

"We were thrilled by the result of Francis Ford Coppola's F.P. Journe FCC Prototype. The importance of this watch, which represents the ultimate creative collaboration between two of the greatest minds in cinematic and horological history, cannot be overstated," Paul Boutros, deputy chair and head of watches, Americas at Phillips, reportedly said in a statement to The Hollywood Reporter.

Earlier this year, Coppola admitted he was short on cash after borrowing money to finance the film. The watch he wore to the "Megalopolis" premiere at the Cannes Film Festival in May 2024 became a way to replenish funds for future artistic projects.

The 42-millimeter platinum piece has a futuristic, almost steampunk look with metallic plates and screws that evoke medieval gauntlets, according to Mansion Global. The prototype features a blackened titanium hand and tiny visible tool marks, with Coppola's name engraved on the back—all confirming its status as a genuine prototype.

But Coppola didn't stop at one watch. He sold six additional timepieces at the auction: an IWC Portugieser Chronograph for $21,590, an F.P. Journe Chronometre à Resonance for $584,200, a Patek Philippe World Time for $88,900, and a Breguet for $60,960, according to the Phillips website.

When you add it all up, that's a serious injection of capital from a watch collection—though probably not enough to make another $120 million movie anytime soon.