DESCRIPTION FOR CTH: 91011100
WRIST-WATCHES, POCKET-WATCHES AND OTHER WATCHES, INCLUDING STOP-WATCHES, WITH CASE OF PRECIOUS METAL OR OF METAL CLAD WITH PRECIOUS METAL; Wrist-watches, electrically operated whether or not incorporating a stop-watch facility; With mechanical display only;
STRUCTURE OF DUTY FOR CTH: 91011100
Chapter 91 Notes as per Customs Tariff
1. This Chapter does not cover:
(a) Clock or watch glasses or weights (classified according to their constituent material);
(b) Watch chains (heading 7131 or 7117, as the case may be);
(c) Parts of general use defined in Note 2 to Section XV, of base metal (Section XV), or similar goods of plastics (Chapter 39) or of precious metal or metal clad with precious metal (generally heading 7115); clock or watch springs are, however, to be classified as clock or watch parts (heading 9114);
(d) Bearing balls (heading 7326 or 8482, as the case may be);
(e) Articles of heading 8412 constructed to work without an escapement;
(f) Ball bearings (heading 8482); or
(g) Articles of Chapter 85, not yet assembled together or with other components into watch or clock movements or into articles suitable for use solely or principally as parts of such movements (Chapter 85).
2. Heading 9101 covers only watches with case wholly of precious metal or of metal clad with precious metal, or of the same materials combined with natural or cultured pearls, or precious or semi-precious stones (natural, synthetic or reconstructed) of headings 7101 to 7104. Watches with case of base metal inlaid with precious metal fall in heading 9102.
3. For the purposes of this Chapter, the expression watch movements means devices regulated by a balance-wheel and hairspring, quartz crystal or any other system capable of determining intervals of time, with a display or a system to which a mechanical display can be incorporated. Such watch movements shall not exceed 12 mm in thickness and 50 mm in width, length or diameter.
4. Except as provided in Note 1, movements and other part suitable for use both in clocks or watches and in other articles (for example, precision instruments) are to be classified in this Chapter.
LIST OF Top ten most expensive watches in the world
Here is a list of the world’s most expensive watches, compiled from industry sources:
Top tWO most expensive watches in the world
GRAFF DIAMONDS HALLUCINATION
- Material used: Platinum
- Manufacturing year: 2014
- Movement: Quartz
The Hallucination, crafted by Graff Diamonds, is the world’s most expensive watch. Laurence Graff, the visionary Chairman of Graff Diamonds, ideated the masterpiece.
Boasting an assortment of 110 carats of multi-coloured diamonds in various cuts embedded into a platinum bracelet, The Hallucination seamlessly integrates high fashion with the world of watchmaking.
Unveiled at Baselworld in 2014, The Hallucination is ideal for those seeking a shimmering and captivating spectacle.
Graff Diamonds The Fascination
Securing the second spot on our list of the world's most expensive watches is The Fascination. It was created by Graff Diamonds again- a renowned British jewellery brand celebrated for its expertise in procuring and refining some of the globe's most renowned diamonds.
This watch can also be styled as a bracelet. It has an impressive 152.96 carats of white diamonds, with a rare 38.13-carat pear-shaped diamond serving as the central dial. The pear-shaped diamond can be detached and worn as a ring.