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7 March 2012 Last updated at 11:51 ET Share this page
Swiss firm Hublot unveils $5m diamond watch
The $5m watch is covered in 1,282 diamonds
Continue reading the main story Related Stories
A Swiss watchmaker has put on display what it claims is the world's most expensive watch, worth $5m (£3m).
The white gold timepiece is encrusted with 1,282 diamonds, and will be shown to a small number of people at a corporate event in Basel.
It was created by Swiss firm Hublot and took 17 people 14 months to make, according to the AFP news agency.
A "mastersetter" from New York had to be flown in to fashion the largest diamonds, the watchmaker said.
Analysts say despite the economic downturn in Europe Swiss watchmakers have done well this year, driven by demand in Asia.
"We profit off the general growth of the economy in the region," Jean-Daniel Pasche, president of the Swiss Watch Industry, told AFP.
"There are many people who have the means to acquire a Swiss watch - they find our products very attractive."
Swiss firm Hublot unveils $5m diamond watch
The $5m watch is covered in 1,282 diamonds Continue reading the main story Related Stories
A Swiss watchmaker has put on display what it claims is the world's most expensive watch, worth $5m (£3m).
The white gold timepiece is encrusted with 1,282 diamonds, and will be shown to a small number of people at a corporate event in Basel.
It was created by Swiss firm Hublot and took 17 people 14 months to make, according to the AFP news agency.
A "mastersetter" from New York had to be flown in to fashion the largest diamonds, the watchmaker said.
Analysts say despite the economic downturn in Europe Swiss watchmakers have done well this year, driven by demand in Asia.
"We profit off the general growth of the economy in the region," Jean-Daniel Pasche, president of the Swiss Watch Industry, told AFP.
"There are many people who have the means to acquire a Swiss watch - they find our products very attractive."
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