'Supercomplication' masterpiece watch fetches $24 million at auction

Associated Press

A masterpiece of early 20th-century watchmaking has sold for 23.2 million Swiss francs ($24 million) at an auction in Switzerland.

Auction house Sotheby's says The Henry Graves Supercomplication beat the previous record of $11 million, set when the watch was sold in New York in 1999.

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Sotheby's says the watch was bought by an anonymous bidder in the room at Tuesday's Geneva sale.

Commissioned by New York banker Henry Graves in 1925, the watch by Patek Philippe has 24 complications, or features. They include a perpetual calendar, moon phases and indications for time of sunrise and sunset as well as the night sky of New York City.

It remains technically unsurpassed expect for watches made with the help of computers.