After my ebay gamble with the Paragon that arrived broken I'd set my expectations low on this one too... but it's arrived in one piece and seems quite nice!
I haven't heard of Gradus so I assume they're a lower-end watch maker? The case is marked 'Plaque 10 M', which I take it refers to the gold plating and it does need a new crystal, as the original appears to have sustained some sort of knock. That said it's kept time almost spot on for 12 hours and winds and adjusts really well. Quite a bargain I think at £2.99!
Here's some terrible quality mobile phone pics until it gets light enough outside to take proper ones:
Anyone know about Gradus? I've popped the back off and the movement is marked 'Swiss made' and appears to be in perfect condition.