The Hublot

Hublot has created the world's most costly watch, which was produced in limited quantities and is adorned with 1200 diamonds weighing 140 carats. It is made of six precious stones, and the business devoted 17 personnel to its production, which took 14 months.

According to a Hublot statement, unlike a conventional Haute joaillerie piece, where the design and construction fit previously picked stones, the diamond cutters started with the design and then located the diamonds that fitted it. Every stone was hand-picked to ensure that they were of uniform quality and color. They have to be resized one by one to fit perfectly with the watch. Beyonce Knowles, America's famed celebrity, paid $5 million for this watch for her husband Jay-Z.

Price: $5 million.