It took 17 workers 14 months to set all the stones in the one-of-a-kind timepiece. The price tag? Five million dollars. The company’s president, Jean-Claude Biver, told the Baltimore Sun that it’d be hard to make a pricier watch than this one, given that “the surface of a watch is limited” and there just isn’t much room for more bling [source: Hennigan].

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Hublot’s over-the-top watch is an elegant piece of wrist candy, to be sure, even if you wouldn’t dare to wear it on the street without an armed escort. He found that all four were astonishingly precise, to within a few thousandths of a second per day [source: Lombardi]. It has a back-lit display that you can read clearly even at night, and if you’re a traveler, you can set it to flip between two different time zones. But if you’re concerned about actually using a watch to tell time, this one probably isn’t that great of a choice, since there’s so much glitter on the face that the positions of the hour, minute and second hands are tough to discern. Also, there’s no digital display and no stopwatch mode, so it wouldn’t be very useful if you want to keep track of your pace when you go for a jog in the park.com for as little as $47, can do all of that and far more. In a pinch, it even can double as an alarm clock.

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So for strictly utilitarian purposes, the answer to the question we’ve posed is a simple “no. What makes one watch better than another, and how do you choose one that best suits you?

Since most modern watches are pretty much equally reliable in terms of keeping time, how do you pick the best watch for you? What you’re willing to spend to get those qualities. Your choice really depends on what qualities you value in a timepiece. If so, you may want to opt for a brand-name mechanical timepiece, rather than a humbler quartz running timer. I even use my iPhone as a running timer and an alarm clock. Do you want to look stylish and sophisticated? If you’re a trust-funder or a lottery winner, you might opt for a $10,000 designer watch with a streamlined stainless steel and gold case, elegant rose gold hands and a black-and-blue guilloche dial [source: Watch Journal]. But for the more frugal, it’s possible to obtain a high-quality, elegantly designed watch for around $500 on the Internet [source: Google]. For fitness enthusiasts, there are watches that measure heart rate and are GPS-enabled to track the distance and average speed of your running or walking workout [source: Muston]. There’s also the Oregon Scientific weather watch, available for around $50, which actually measures barometric pressure trends and provides forecasts [source: Amazon.com]. There’s even a $33 digital watch that doubles as a video and music player and as an FM radio [source: eCrater.com]. Of course, extreme durability doesn’t come cheap — it retails for $4,400 [source: Fallon]. The advent of the iPhone, which has the time prominently displayed on the opening screen, freed me from watch wearing.

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Amazon.com. “Oregon Scientific Ra121 Meteo Weather Forecast Watch.” (March 10, 2012) http://www.amazon.com/Oregon-Scientific-Ra121-Weather-Forecast/dp/B0018JVMAO

Chronocentric.com. “Accuracy of Fine Wristwatches.” (March 8, 2012) http://www.chronocentric.com/watches/accuracy.shtml

eCrater.com. “New 1.5″ OLCD 2GB FM MP4/MP3 WRIST WATCH Video Player 1GB.” (March 10, 2012) http://www.ecrater.com/p/5227638/15-olcd-2gb-fm-mp4-mp3

Fallon, Sean. “Swiss Military Wristwatch Can Handle 20,000-Foot Depths, Gunshots, Buy Loose Diamonds Wholesale Dynamite.” Gizmodo. Sept. 24, 2009. (March 8, 2012) http://gizmodo.com/5367079/swiss-military-wristwatch-can-handle-20000+foot-depths-gunshots-dynamite

Google.com “Hamilton Men’s ‘Jazzmaster’ Stainless Steel Bracelet Watch H32715131.” (March 10, 2012) http://www.google.com/products/catalog?ix=sea&q=VIEWMATIC+44MM&um=1&ie=UTF-8&tbm=shop&cid=17272340734273536643&sa=X&ei=ddlaT9GCJ6f20gGN0ZzCDw&ved=0CEEQ8gIwBA

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Hennigan, W.J. “A $5-million watch, the world’s most expensive, unveiled at show.” Baltimore Sun. March 8, 2012. (March 9, 2012) http://www.baltimoresun.com/features/fashion/la-fi-mo-5-million-expensive-watch-20120308,0,5365869.story

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Horological Journal. “Lombardi, Michael.” February 2008. (March 8, 2012) http://tf.nist.gov/general/pdf/2276.pdf

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IEEE Global History Network. “Milestones: Pioneering Work on the Quartz Electronic Wristwatch, 1962-1967.” (March 8, 2012) http://www.ieeeghn.org/wiki/index.php/Milestones:Pioneering_Work_on_the_Quartz_Electronic_Wristwatch,_1962-1967

Mansfield, Howard. “Does Anybody Really Know What Time It Is?” The New York Times. March 10, 2011. (March 8, 2012) http://www.nytimes.com/2011/03/11/opinion/11mansfield.html

Muston, Samuel. “The 10 Best Digital Watches.” Independent UK. Oct. 27, 2011. (March 10, 2012) http://www.independent.co.uk/life-style/gadgets-and-tech/features/the-10-best-digital-watches-2376259.html

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Watch Journal. “Free Falling.” February 2012. (March 9, 2012) http://blog.watchjournal.com/digital-edition.

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