Famous Oscar winner Francis Ford Coppola's personal F.P. Journe brand watch set a real record at the auction. This unique watch, developed by a Swiss company, was purchased by an unknown buyer for around $11 million after just 11 minutes of haggling during the auction.
In the spring of 2024, Coppola announced to the public that he was on the verge of bankruptcy. The reason for this situation was that the film "Megapolis," which he spent $120 million from his own funds, generated a total of $14.4 million in box office revenue. In order to cover part of the debts, the director was forced to sell some of his real estate in the fall. Now it was announced that his unique collection of watches is also being put up for auction.
On 6 December, at a heated auction on Park Avenue, the director's F.P. Journe watch was acquired at Phillips auction for almost $11 million. This price set the largest amount paid for watches in the US since Paul Newman's famous Rolex Paul Newman Daytona watch was sold in 2017.
Interestingly, Coppola created this watch model herself in 2014 in partnership with F.P. Journe. The patterned, unique design mechanism allows you to see the complex internal structure of the clock. In the center of the dial is an image of a hand in gloves, with fingers moving, disappearing, and reappearing throughout the day.
It was reported that the auction began at 11:00 a.m. with an initial bid of $1 million. In just a few seconds, buyers who wanted to acquire the watch raised the offer to $5 million.
The auction officially ended with a result of $9 million, with auction fees included in the final amount of $10.755 million. Andrew Shear, a secondary market dealer, commented on the sale: "This is an incredibly high sum."
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