LG has a gold smartwatch that's a tenth the price of Apple's

Still a very big chunk of change

LG Watch Urbane Luxe

The LG Watch Urbane already felt like a dressed up Android Wear smartwatch for the modern geek and in case you wanted something even more ostentatious, it now comes wrapped in 23-karat gold.

Aside from the gilded finish, the new LG Watch Urbane Luxe features an alligator leather strap and it even comes boxed in piano-gloss lacquer case. But before you start foaming at the mouth about this luxurious wearable, you should know it costs a ludicrous $1,200 (about £780, AU$ 1,690).

That's really, really expensive for an Android Wear smartwatch, but it's still nothing compared to the $10,000 (£8,000, AU$14,000) base price for an 18-karat rose gold Apple Watch. However, other than the new look the Luxe does not upgrade the internals nor the 1.3-inch 320 x 320 circular display from the vanilla model Urbane.

Going for a makeover

Chris Yie, LG vice president and head of marketing communications, explained that the Luxe is the natural evolution of smartwatches as they are quickly becoming lifestyle accessories.

LG stresses it has teamed up with REEDS Jewelers to produce the most luxurious wearable with a 23-karat gold body that's stronger and harder than 24-karat jewelry while still being heavier than the 18-karat gold used in traditional luxury smartwatches. Additionally, the alligator leather wristband was painstakingly handcrafted in 50 steps by 30 leatherworkers.

Of course, with such a meticulously crafted device LG only plans to release 500 of these limited edition watches and it will be available only in the US initially. Stay tuned as we'll get some time to sneak an early peek and shoot some photos of this 23-karat smartwatch at IFA 2015 later this week.

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