With a $5m price-tag and 1,292 diamonds, is this the world's most expensive watch?

A Swiss watchmaker unveiled today what is believed to be the world's most expensive timepiece.
Hublot's new watch, which has a price tag of $5million, dazzles with a staggering 140 carats of diamonds, all set in white gold.

The precious stones cover the entire face, as well as the band, giving an appearance more akin to fine jewellery than practical accessory.
Hublot, which usually sells its watches for an average of $24,000, debuted its creation at the annual Baselworld Watch & Jewellery Show, which opened to the public today.
Company president, Jean-Claude Biver, explained that it would be hard to make a more expensive watch 'because the surface of the watch is limited

Hublot, which usually sells its watches for an average of $24,000, debuted its creation at the annual Baselworld Watch & Jewellery Show, which opened to the public today.
Company president, Jean-Claude Biver, explained that it would be hard to make a more expensive watch 'because the surface of the watch is limited

Despite the price tag, it seems Hublot will have no trouble selling the high-end creation.
Mr Biver revealed that several people had already expressed interest in acquiring it, although he could not disclose any further details.

Though many retail sectors have been suffering in the economic downturn, luxury brands, Hublot included, are thriving.
The watchmaker celebrated a record year in 2011, with sales up by 30 per cent, and Mr Biver says he is expecting the same for 2012