Close to 1,300 diamonds adorn not only the entire face of the watch but also the band, and six of the diamonds weigh in at over three carats each. The piece reportedly took 17 people 14 months to design and make.

The dazzling diamond timepiece was unveiled at Baselworld, an exhibition which is also showcasing a SFr70 million ring made entirely of diamond produced by the Geneva-based jewellery house Shawish. Despite the uncertain economic climate, both Hublot and Shawish have seen significant interest from prospective buyers, indicating that for some at least money continues to be no object.

Indeed, Jean-Claude Biver, president of Hublot has been quoted as saying that it would be tricky to produce a more expensive piece, “because the surface of the watch is limited”.

The value of the Hublot watch may pale in comparison to that of the Shawish ring, but it is still nice to see that the gents aren’t being left out of the Basel blingfest.