If you and I make a bad financial decision, we might get by through selling plasma or eating canned tuna for a week. But if you’re Francis Ford Coppola, you bounce back from possible financial ruin by selling million-dollar watches.
It’s no secret that 2024’s Megalopolis, Coppola’s long-gestating pet project, was a bona fide financial bust. After the iconic director poured in $120 million of his own money (a combination of various personal assets alongside a majority stake in the Delicato Family Wines), Megalopolis earned just $14.4 million at the box office. Now, in hopes of recouping a portion of the small fortune that’d devastate anyone else, Coppola has tapped New York City auction house Phillips to sell seven singular timepieces (per The Hollywood Reporter).
With the auction set for December 6th and 7th in New York City, the undisputed crown jewel of the so-called “Coppola Collection” is the F.P. Journe FCC Prototype. According to Phillips’ own Paul Boutros, Coppola worked hand-in-hand with famed watchmaker Francis-Paul Journe to craft this watch. Perhaps its most dazzling feature is its “black-treated titanium hand,” which was developed over the span of nearly a decade’s worth of conversations between Journe/his staff and Coppola.
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The hand (which draws inspiration a 16th century prosthetic crafted by French physician Ambroise Paré) tells the time via “the fingers and thumb extending or retracting in a set of sequences that indicate different hours.” Meanwhile, the minutes are “determined by a white rotating ring around the perimeter.” It’s one of only three versions ever made by Journe, with the last watch selling at a 2021 charity auction for 4.5 million Swiss francs. (Several production versions have also been made for various clients, with each watch going for $1 million.)
Might Coppola’s own Prototype nab such a lofty figure? That’s the hope of the Phillips auction house, and they’ve got some solid supporting evidence to value the Prototype at $1 million. Back in 2017, that’s exactly how much they earned for a Paul Newman-worn Rolex. (Ironically enough, Coppola has worn his Prototype watch — at the May 2024 premiere of Megalopolis.) At the same time, Phillips’ own Boutros admits they “don’t know how the market will price” the watch, so it could go for even higher final figure. That sound you hear? It’s Coppola’s accountants, cheering wildly.
The other standout from the collection is yet another masterpiece from Journe, the Chronomètre à Résonance. Gifted to Coppola by his late wife Eleanor Coppola, the timepiece is accompanied by “an advertisement for the Résonance, which Francis Ford Coppola saved and was later found by his wife, leading to the gift.” That watch is slated to be auctioned for between $120,000 and $240,000.
The last pieces in the Coppola auction are a Blancpain Minute Repeater (auctioning for between $15,000 and $30,000); a Patek Philippe Calatrava ref. 3919 (auctioning for between $6,000 and $12,000); and a Patek Philippe World Time ref. 5130G (auctioning for between $15,000 and $30,000). Two final watches, carry no reserve (i.e., no minimum price): a BreguetClassique ref. 5140 (auctioning between $4,000 to $8,000) and an IWC Portugieser (auctioning between $3,000 to $6,000).
Coppola has never shied away from the financial hardships he faced after the release of Megalopolis; back in March, he said he had no money on-hand for his undetermined next project. At the same time, Coppola has remained fiercely proud of the film despite its robust failures. He even accepted a Razzie Award back in February, calling it a “distinctive honor” to earn nominations for worst director, screenplay, and picture “at a time when so few have the courage to go against the prevailing trends of contemporary moviemaking!”
And, sure, Coppola made a decidedly trash film, but you’ve got to commend him for putting everything on the line and being willing to sell beloved personal heirlooms just to back it all up. He believed in this film, and what it would add to his already celebrated filmography, and executed it exactly as he saw fit (even when others remained uncertain or unmoved). Would any other director be as unwavering in their commitment to bringing their vision to life regardless of the life-altering consequences? Maybe Tommy Wiseau, but who knows for sure?
Ahead of the auction, Phillips will displaying Coppola’s watches to the public from December 3rd to 5th; head here for more information.