Paris Hilton, Tinkerbell, and the ridiculously extravagant watch

Just in time for Christmas! Need a gift for the person who has everything? How about a a $100,000, diamond-encrusted watch? Best of all, the watch is called, simply, Paris Hilton! (I went to Target to buy one, but apparently they don't have their shipment quite yet.)

Paris unveiled her limited-edition watch collection at Manhattan's Tourneau Time Machine store on Wednesday. She used the bulk of her press conference not to speak, but to pose with the watch along with Tinkerbell. (Ironically, the AP shot at right seems to omit the expensive wristwatch.)

Paris said, "I worked with the watchmakers and designed the entire watch and the box it came in. It has two of my favorite things: diamonds and travel." The lavish watches bear more than 1,000 diamonds each and show the five time zones. (Yes, when 500 diamonds and three time zones aren't enough, you need Paris.)

Paris plans to expand the line to eventually include pieces at more entry-level price points. "I'm going to have watches in all different price ranges, so all my fans and anyone can afford them," she said.

Not sure what "entry-level" means when your watches included 1,000 diamonds, but no matter--we're glad to see that Tinkerbell is back in the limelight (and who knows where poor Baby Luv is these days?)

Read more at the National Jeweler site.

Image: AP Photo/Stephen Chernin