Korean tech company LG has launched the Urban Watch Luxe smart watch, the deluxe edition of the company's wearable device, Urbane Watch. The luxury watch has a price which costs two to three times as much as regular smartwatches today.

According to Indian Express, the Urban Watch Luxe sells from $1200 and up. The watch has an alligator leather strap, a feature most often seen in luxury brands. Aside from the noteworthy strap, the main device is made with 23 karat gold.

LG has collaborated with REEDS Jewelers, a jewelry maker based in the U.S., to come up with the luxury device. A serial number is carved at the back of the watch to ensure its authenticity. The device only has very limited stocks and LG says there are only about 500 Urbane Watch Luxe in existence.

The Urbane Watch Luxe is now available for pre-order in REEDS Jewelers' website, www.reeds.com. The device will be featured in the IFA event which will be held in Berlin next month and will go on sale in Oct.

The new smartwatch will also be sporting a clasp for a fitted look, which is popular for watch designs. The Urbane Watch Luxe is equipped with a 1.3 inch 320×320 screen display. It has 512MB RAM and a 410 mAh battery. The new device runs the operating system for Android wearable devices, Android Wear OS.

The Urbane Watch Luxe has been announced by LG earlier this year. The high-end version of the Urbane Watch does not differ much from the Urbane Watch when it comes to features. It is still a smartwatch made of gold and leather, so the price is as steep as it gets. 

The smartwatch market has been getting some attention these days. Pebble has launched the Pebble Time Steel last month. The Apple Watch has been reported to be the second most shipped wearable device next to Fitbit.

Korean startup Dot has made the world's first and only Braille smartwatch. With the launch of LG's Urbane Watch Luxe, we don't expect to be reading less about smart watches anytime soon.