It will set you back a cool £33 million – considerably more than your own private island in the Caribbean, which you can pick up for a paltry £9m – but you can’t live in it and it doesn’t have a pool.

But this wristwatch, set with 110 carats of rare coloured diamonds and created by British jeweller Graff Diamonds, is certainly as much of a talking point.

Named The Hallucination, the watch is being displayed at the industry’s biggest annual trade show, Baselworld, today in Basel, Switzerland. It is described as the ‘most valuable watch ever created’, and they’re probably not exaggerating.

Graff Diamonds’ chairman Laurence Graff said in a statement: ‘The Graff Hallucination is a sculptural masterpiece; a celebration of the miracle of coloured diamonds.

‘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.’

The watch took his staff ‘thousands of hours’ to create.

source: Metro UK