Apple announced three models of the new Apple Watch which brought some experts to wonder if the company had made a mistake in its announcement.  The basic Apple Watch, known as the Sport version, will be available to consumers for just $349.  But those looking for the 18-karat gold premium edition will be forced to pay another $16651 for the top of the line model.

    The only reported difference between the top model and the entry level is the material the device is made out of.  The Apple Watch Sport model is made from aluminum while the premium model is 18 karat gold.  But the hidden item from the announcement is that Apple has now entered the luxury watch market with the release.

    “Apple Watch is the most advanced timepiece ever created,” Tm Cook, Apple CEO stated in the Apple Watch announcement held in California. “It’s a revolutionary new way to connect with others and a comprehensive health and fitness companion.”

    The new device has long been rumored for Apple and several features were announced during the press event this week in San Francisco.  The Apple Watch will have multiple types of bands and colors along with case material made from stainless steel.  Sensors included in the device are for heart rate and accelerometer.  The watch is compatible with the iPhone models 5, 5c, 5s, 6 and 6 Plus.  The face of the device is to be made of a very hard material known as sapphire crystal which Apple says is the second hardest material on earth with diamond being the first.

    Availability is set for April 24 with pre-orders slated for April 10.