Graff Diamonds, the London-based jeweller, unveiled the most expensive timepiece in history Thursday at the annual Watch and Jewelry Show BaselWorld.
The Hallucination Watch, valued at $55 million, features over 110 carats of fancy colour diamonds including some rare blues, brilliant pinks, shiny yellows and staggering greens. The watch face itself is rather small, showing off the beauty of the stones as opposed to the functionality of the timepiece.
“The Graff Hallucination is a sculptural masterpiece; a celebration of the miracle of coloured diamonds,” said Graff Diamonds founder 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.”
Graff Diamonds, established in 1960, has been notable in the industry for their ownership of famous diamonds such as The Lesotho Promise, The Graff Pink and the Letseng Legacy.
The company also made headlines in the colour diamond world in March 2013 with the unveiling of the Peacock Brooch. Measuring just 10 cm high, the piece features 120.81 carats of diamonds. The focal point of the brooch is a 20.02 pear-shaped deep blue diamond at the centre with the diamond-encrusted plumage featuring both white and colour stones. Priced at $100 million, the piece made its debut at the renowned exhibition The European Fine Art Fair in Maastricht, Netherlands.