the problem is:
let's say, in comparison level 1, the algorithm need to be remember all the array element because largest is not yet known, then, second, finally, third. by keep tracking these element via assignment will invoke additional value assignment and later when the largest is known, you need also consider the tracking back. As the result, it will not be significantly faster than simple 2N-2 Comparison algorithm. Moreover, because the code is more complicated, you need also think about potential debugging time.
eg: in PHP, RUNNING time for comparison vs value assignment roughly is :Comparison: (11-19) to value assignment: 16.