$55 million ‘most valuable watch ever created’ unveiled

The 55 million US Dollars (40 million euros) "Hallucination" watch set with a multitude of rare coloured diamonds is displayed at the booth of British jeweller Graff at the watch industry's biggest annual tradeshow BaselWorld on March 28, 2014 in Basel. - AFP

British jeweller Graff unveiled Thursday what it described as the “most valuable watch ever created” — a timepiece replete with more than 110 carats of diamonds costing $55 million (40 million euros).

Unveiled at the watch industry’s biggest annual tradeshow, BaselWorld, the glittering wristwatch, called “Hallucination”, is set with a multitude of rare coloured diamonds.

Gemologists, designers and craftsmen had spent thousands of hours to get the watch right, said the jeweller.

“The Graff Hallucination is a sculptural masterpiece; a celebration of the miracle of coloured diamonds,” said company chairman Laurence Graff in a statement.

“For many years I have thought about creating a truly remarkable watch that illustrates our all consuming passion for diamonds. The Hallucination has made my diamond dream a reality.”