Francis Ford Coppola Selling $1M Watch, and 6 Other Valuable Timepieces After Megalopolis Bombs

Francis Ford Coppola is auctioning off several prized possessions after investing $120 million into his last movie. 

The Oscar-winning director, 86, has put up seven timepieces from his personal collection with auction house Phillips, which will present the sale on Dec. 6 and 7 in New York City, PEOPLE can confirm.

Coppola’s sales will help recoup a portion of the money he lost on last year’s Megalopolis, which cost over $120 million and grossed only $14.3 million worldwide. The filmmaker opted to fund the passion project with his own wealth rather than partner with a studio. In 2021, he even sold a majority stake of his wine business, Inglenook, to California-based Delicato Family Wines.

During the movie’s 2024 Cannes Film Festival premiere, Coppola said he “never cared about money” and that his three children “don’t need a fortune.” 

Among the timepieces soon to be up for sale is a one-of-a-kind timepiece Coppola designed alongside renowned watchmaker François-Paul Journe. The F.P. Journe FFC Prototype features a black titanium human-like hand whose fingers and thumb extend or retract to indicate different hours. 

“Speaking with Francis in 2012 and hearing his idea on the use of a human hand to indicate time inspired me to create a watch I never could have imagined myself,” said Journe in a statement shared with PEOPLE. “The challenge was formidable – exactly the type of watchmaking project I adore.”

“After years of collaborating directly with Francis in the development process, it was a great pleasure to deliver this FFC prototype to him in 2021,” Journe continued. “I’m proud to fully support the sale of this watch through Phillips to fund the creation of his artistic masterpieces in filmmaking.”

Journe reportedly made a small number of bespoke versions based on that design, selling each to private clients for roughly $1 million. That’s the estimate for Coppola’s unique watch, which the Godfather director wore at the Cannes premiere of Megalopolis. 

The fantasy epic starred Adam Driver, Nathalie Emmanuel, Giancarlo Esposito, Aubrey Plaza, Laurence Fishburne, Jon Voight, Grace VanderWaal, Shia LaBeouf and Dustin Hoffman, plus Coppola’s sister Talia Shire and her son Jason Schwartzman.

“The City of New Rome must change, causing conflict between Cesar Catilina [Driver], a genius artist who seeks to leap into a utopian, idealistic future, and his opposition, Mayor Franklyn Cicero [Esposito], who remains committed to a regressive status quo, perpetuating greed, special interests, and partisan warfare,” reads the movie’s official synopsis. “Torn between them is socialite Julia Cicero [Emmanuel], the mayor’s daughter, whose love for Cesar has divided her loyalties, forcing her to discover what she truly believes humanity deserves.”

Never miss a story — sign up for PEOPLE’s free daily newsletter to stay up-to-date on the best of what PEOPLE has to offer​​, from celebrity news to compelling human interest stories. 

Following the critical and commercial failure of Megalopolis, director Mike Figgis’ Megadoc (in select theaters now) charted the movie’s development with behind-the-scenes footage and interviews with cast and crew.