Famed director Francis Ford Coppola has sold a one-of-a-kind F.P. Journe FFC Prototype watch at auction for $10.8 million.
The custom timepiece, which Coppola co-designed, was purchased on Saturday by an anonymous bidder after 11 minutes of intense competition at Phillips' New York auction, according to The Hollywood Reporter.
The watch is unique in the F.P. Journe collection because it's the only creation based on an idea from someone else.
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The sale set a new record for the highest price achieved for a timepiece at an auction in the U.S. The previous record was the 2017 sale of Paul Newman's Rolex "Paul Newman" Daytona.
The high-profile divestiture followed a financial setback for Coppola, whose self-funded epic movie "Megalopolis" flopped at the box office. The film grossed only $14.4 million against a $120 million self-funded project.
"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.
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Earlier this year, Coppola said he was short on cash after losing money he had borrowed to finance the film. Auctioning the watch, which he wore at the "Megalopolis" premier at the Cannes Film Festival in May 2024, was a way to replenish funds for future artistic endeavors.
The 42-millimeter platinum piece has a futuristic, almost steampunk aesthetic with metallic plates and screws reminiscent of medieval gauntlets, according to Mansion Global.
The prototype, engraved with Coppola's name on the back, is distinguished by its blackened titanium hand and tiny, visible tool marks, confirming its status as a prototype.
Coppola sold an additional six watches at the auction, including 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.
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