Francis Ford Coppola Auctions Watch Collection After ‘Megalopolis’ Financial Losses
Director Francis Ford Coppola is auctioning off a significant portion of his prized watch collection, including a custom Patek Philippe valued at over $1 million, following substantial financial losses incurred by his recently released film, Megalopolis.
Coppola revealed today that he has personally financed Megalopolis, a decades-long passion project, and the film’s disappointing box office performance has left him in a difficult financial position. “I’m broke,” Coppola stated, adding that he has mortgaged his homes to complete the project. The auction, set to be held by Sotheby’s, will include approximately 200 watches accumulated over decades, representing a lifetime of collecting.
Among the most notable pieces is a unique Patek Philippe ref. 2438/1, a perpetual calendar chronograph commissioned by Coppola in 1972. The watch features a distinctive blue dial and is estimated to fetch between $750,000 and $1.2 million. Coppola explained that he is selling the watches not out of necessity alone, but also to ensure the film finds its audience, stating he hopes the sale will generate publicity for Megalopolis. This situation highlights the increasing financial risks independent filmmakers take when self-financing ambitious projects.
The auction proceeds will be used to help recoup some of the substantial investment in Megalopolis and potentially fund future endeavors. Interested bidders can find more information about upcoming auctions at Sotheby’s. The film itself, a sprawling science fiction epic, has garnered mixed reviews but remains a significant artistic statement from the acclaimed director of The Godfather trilogy – learn more about the history of filmmaking here.
Representatives for Coppola have indicated that the auction will proceed as planned, with further details regarding specific dates and viewing opportunities to be announced shortly.
