Many companies are targeting high-end buyers these days, but Hublot is taking it a step further, by introducing a watch loaded with more than 1,200 diamonds worth a cool $5 million.

The new watch, called simply the $5 Million Watch, features a total of 1,282 diamonds, including more than 100 cts. of baguettes, and six square emerald-cut stones, each weighing more than 3 cts. It was recently sold to the Hour Glass, a watch retailer in Singapore.

While the watch doesn’t claim the title as the most expensive ever made, it was the most expensive watch introduced at this year’s Baselworld fair, and is the most expensive timepiece Hublot has ever produced, according to spokeswoman Marine Lemonnier Brennan.

“Last year, we introduced a $3 million watch,” Brennan tells JCK. “But $5 million is probably the limit.”

So far, only one piece has been produced, but it’s possible the company may introduce future pieces.

According to a Hublot statement, unlike the standard haute joaillerie piece, where the design and construction fit already selected diamonds, here the diamond cutters started with the design and then found the diamonds that suited it. Every stone was individually selected to ensure that all were of a consistent quality and color. They then had to be resized, one by one, to make them a perfect fit for the watch.

Constructing the watch took 14 months of work, including seven months of work for 12 diamond cutters, and the same for the five setters.

The watch’s bracelet is 18k white gold, set with 782 baguette diamonds, totaling 45 cts.

JCK