Whether worn as a watch or a bracelet, The Fascination (which debuted at Baselworld 2015) is truly breathtaking. Photos courtesy Graff Diamonds.

BY KAREN AANONSEN

Graff Diamonds’ The Fascination lives up to its moniker. Worth an astounding $40 million, it now takes the title of the world’s most expensive watch — but, for that astounding sum, the new, dramatic piece also delivers an enviable bracelet as well as a jaw-dropping ring. Fashioned from 152.96 carats of the finest white diamonds, The Fascination features a rare 38.13-carat D Flawless pear shape diamond, cut and polished by Graff, at its center. It’s this special rock that can be detached and worn as a ring. In its place, an elegant diamond watch face is inserted. The covetable convertible bauble is on display at Graff’s Baselworld stand in Basel, Switzerland, through March 26.

—March 2015