THE BLING RING: Two larger-than-life characters came together at the Baselworld watch and jewelry fair on Friday night for the launch of the Billionaire, a diamond-set watch worth 18 million Swiss francs, or $18.3 million at current exchange rates.
New York-based jeweler Jacob Arabo partnered with Italian entrepreneur Flavio Briatore on the project, produced by Jacob & Co. under license with Briatore’s Billionaire Lifestyle company, which has interests spanning from clothing to nightclubs.
Arabo walked through the stand brandishing the skeleton timepiece, which features a case and bracelet set with 260 carats of GIA certified emerald-cut diamonds, with individual gems weighing as much as 3 carats each. “We have a couple of buyers looking at it,” he told WWD.
Though the two men are longtime friends and share the same jet-set lifestyle, even Briatore admitted he was taken aback by the price tag of the one-of-a-kind piece, which features the Billionaire brand logo engraved on the case back. “I asked three times the price,” he said.