152.96 Carats Flawless The Graff Diamonds' Fascination Price: $40 million

Year: 2015
Most jewelers would have stopped with The Hallucination. Not Graff. In 2015, he created The Fascination, a watch that incorporates 152.96 carats of colorless diamonds—including a 38.13 D flawless pear-shaped diamond in the center that doubles as either watch dial or (detachable) ring.
Well, Graff Diamonds has the answer: a watch with a removable part that becomes a ring. Called The Fascination, the watch consists of 152.96 carats of white diamonds with a center fancy-cut exquisitely rare stone that is a 38.13-carat D Flawless pear shaped diamond – cut and polished by Graff in their workshops. It is this pear-shaped masterpiece that can be worn as a watch dial in a highly architectural diamond bracelet, or can be taken out and worn as a ring.
The bracelet that holds the watch in its center is a masterful work of metallurgy and gemsetting. It is no easy feat to create a spectacular diamond bracelet that is also comfortable and convertible.
According to Laurence Graff, founder and chairman of Graff Diamonds, the newest piece is meant to demonstrate the brand’s close ties between its London-based  diamond house and its Swiss watchmaking atelier. “The Fascination is an outstanding piece, carefully crafted so it can be worn in a number of different ways – adding a touch of magic to the jewel,”  says Graff. The only question one really has to wrestle with here is whether to wear it as a watch or as a ring: tough call when the value is $40 million.