Watches have long been a status symbol, with some timepieces commanding prices that are higher than the average person's annual salary. The history of expensive watches dates back to the 16th century when the first wearable timekeeping devices were developed. One of the earliest examples of an expensive watch is the Patek Philippe Henry Graves Supercomplication, which was commissioned in 1925 by American banker Henry Graves Jr. The watch features 24 complications, including a perpetual calendar, moon phase display, and a minute repeater. It took watchmaker Patek Philippe eight years to complete the timepiece, and it sold at auction in 2014 for a record-breaking $24 million.
