Marc Obermann
3207
This story doesn't add up at all.
Seeing as he lost $100 million to $130 million on Megalopolis the sale of all of the seven watches isn't really going to make much of a difference at all plus he has been selling other assets worth far more. As for not being allowed to buy anymore exclusive watches at 86 I don't think he really cares that much about that and I wouldn't be surprised that if he did want a watch they would still sell it to a famous person such as him. It's obvious Megalopolis was a big failure and disaster for him and he took a major hit on a vanity project but I still wouldn't mind being a $ behind him.
Marc
making movies is expensive
According to the NYT, Phillips will be auctioning some of Francis Ford Coppola's watches. He apparently overspent on some of his movies. Sounds like he owns (for now) watches with a wide range of values. ...
He also overspent on some timepieces and other things. But the headlines he keeps desiring / generating as a public figure continue. He needs them i guess.
He chose to make a big deal about this timepiece, how special to him it is...... and yet is now flipping it in less than a handful of years? Says a lot about his character imho. What if you did that with a one-off special FPJ made for you only a few years...
I think that's a tiny little bit harsh. The guy is financially in arrears.
To my knowledge, he's owned the "hand" watch before it was even announced for the 2021 Only Watch auction. I always celebrate an artist who is committed and impassioned about his work! Even if it means selling a watch! He's already sold significant shares...
Good point, it's just a watch and can be sold to anyone. Not sure celebrating / rewarding financial irresponsibility is something to be advised or admired.
So not the desired impression that may hangs heavy for the next owner. Everyone knows this sad story on this now. He should have been discrete about selling it. Am sure FPJ could have found him a buyer, maybe the Shark Tank guy or someone in Brunei. Why m...
I never met a fiscally responsible artist who was a true artist.
A true artiste is generally not very fiscally responsible. It would seem that Francis Ford Coppola is somewhat of a true artiste! As for the sale, of course, FP Journe (the company) is going to maximize the opportunity! It is a business of course!
FPJ BUYS it, gives it back to FFC..... As best i can tell, FFC has plenty of money in reserves / movie rights / etc plus his affluent Hollywood friends can easily give him a few million or do a nice benefit.
Artists like him, at his age.... Hollywood is paved with golden statues and creative financing. At FFC's advanced age, may as well bounce the last check he writes. Go out like a true gangsterš Smart money says FPJ buys it for a mill or whatever (price doe...
He had better be for FPJ's reputation sake. Shunned by all other watch makers imho.
Am sure OMEGA will sponsor him, perhaps Longines.
Would ANY watch maker custom create something for Francis now knowing he'll sell it? Maybe it was all just a PR stunt by FPJ and FFC ???
Will FPJ custom make me a timepiece? DM me
The reality with this, or any auction sale in my opinion, is that it more often than not is beneficial to the brand.
Great publicity, and at least with these two watches headlining lots. My gripe, as always, is that there are different rules for different people. This is true of most brands and watchmakers today and while we all want to eliminate the speculators and fli...
Stallone did something similar with his collection....
And he, ostensibly, wasn't nearly as much in dire straights financially as FFC is........
FFC can surely sell, lease, or command other things of financial value before his custom made, hand crafted to FFC's special specs by FPJ timepiece.
You really think he has zero other items, licensing, selling his future interests to past hits to PE guys.... The music folks sell out to investors all the time. Even good ol' Bob Dylan sold his rights to Big Business. Look it up, Sony pad ~$200M and UMG ...
I totally get the sentiment....
I just wouldn't be quick to judge, as you point out, without some serious forensic accounting šš
He has many homes, land, properties, winery. He owns several private jets too. Guess for guys like FFC, a custom made FPJ watch means far less than....
Apologies for my strong feelings, but it does seem quite insulting to the watch maker. Sadder still that the special timepiece story went from a storied dream and hope, to really just something to flip instead of off-the-shelf planes, land, homes, investm...
F.F. Coppola "overspent" on every movie he ever made lol. He was always in trouble with the money-men.
He also overspent on all his vineyard acquisitions and renovations. I used to live a couple of miles down the road from one of them in Sonoma County. But a genius can be fettered I guess. In the end he seems to come out OK.
I feel sorry for him
two great pieces. But I agree with his priorities and kudos to him for the risks he takes with his art. Best Andreas
This story doesn't add up at all.
Seeing as he lost $100 million to $130 million on Megalopolis the sale of all of the seven watches isn't really going to make much of a difference at all plus he has been selling other assets worth far more. As for not being allowed to buy anymore exclusi...
I think he's prioritizing
Selling most overvalued assets first then on to the ranch and Vinyard
I had a feeling this could be coming,
Since i listened to the Tetragrammaton podcast this summer with Francis Ford Coppola and Rick Rubin. I think itās pretty clear that financially he is in dire straits (not the band) again! He has always been a huge risk taker with some winners and some bad...
I only see winners.
The auction house, the watchmaker, the seller and the buyer. In my humble opinion, it's just marketing, like most of the stuff that's been auctioned in the last year. As watch enthusiasts, we might be disappointed, but thereās a long list of celebrities s...
