If your bank balance barely blips at purchases like Juan Manuel Fangio's 1954 Mercedes W196 F1 Silver Arrow or an original Leica 0-series camera, then you're definitely the kind of customer who'd be interested in The Hallucination. This ladies wristwatch is bursting with colorful diamonds, and has been valued at a cool US$55 million.

London's Graff Diamonds certainly made a memorable debut in the prestigious Hall 1 at Baselworld 2014 in Switzerland this week. Its tasty, candy-like Hallucination ladies watch is thought to be the most valuable watch ever made.

"For many years I have thought about creating a truly remarkable watch that illustrates our all consuming passion for diamonds," said company chairman Laurence Graff OBE. "The Hallucination has made my diamond dream a reality."

Graff's design and manufacture teams are reported to have put in thousands of hours to carefully position the precious gems on the pricey timepiece. The Hallucination's petite watch face in the center of over 110 carats of rare colored diamonds almost seems like an afterthought, though. Indeed, we've not been able to obtain any details on the mechanism at all.

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