Yes, really. The pricy piece was created by British jeweller Graff and is believed to be one of the most expensive watches in the world.
We're not surprised!
The dazzling number was unveiled yesterday (19 March) at the annual watch trade show BaselWorld, in Basel, Switzerland.
Named "The Fascination", the timepiece features a whopping 153 carats of fine white diamonds, as well as an incredible 38 carat pear diamond in the centre.
This standout centrepiece can even be removed and double up as a ring, where a diamond watch face is inserted into its place. Two for the price of one, you could say.
Insiders don't believe the glitzy jewellery was made for anyone in particular and reckon it'll go up for auction.
Sarah Louise Jordan from Professional Jewellers magazine, was quoted in the Daily Mail saying: "It is very hard to tell exactly where this stone would have come from, as white diamonds are mined across the world.
"But the size, colour and quality is incredibly rare. Usually if a mine finds a jewel like this it is auctioned off to quality jewelers like Graff who will then polish the stone."
Lauren Graff, founder of the company, said: "The Fascination is truly unique…an outstanding piece, carefully crafted so it can be worn in a number of different ways."
Despite the hefty price tag, this watch is not the most expensive in the world.
It's believed this title belongs to the 100-carat Hallucination, another Graff watch that is covered in rare colourful diamonds and worth an eye-watering £33 million.
What's wrong with a good ol' Casio, eh?!
For exclusive competitions and amazing prizes visit Reveal's Facebook page NOW!