This, the authors note, “in a country where many people hardly make ends meet.”

The report is cast in the genre of the fashion sleuthing that recently revealed designer clothing on the wife of the North Korean leader, Kim Jong-un. The authors, Boris Nemtsov, a former deputy prime minister who has been jailed a number of times on various pretexts, and Leonid Martynyuk, a member of the Solidarity movement, present enlarged photographs of the Russian leader’s wrist during meetings and public appearances, revealing a variety of expensive watches, 11 in all, worth $687,000 at retail — about six times Mr. Putin’s annual salary.

Image The 1815 wristwatch, manufactured by A. Lange & Söhne. "The Life of a Galley Slave" report reveals photographs of Mr. Putin wearing a variety of expensive watches that total $687,000 at retail.

“His lifestyle,” the authors conclude, “can be compared to that of a Persian Gulf monarch or a flamboyant oligarch.”

The report does not dwell on the question of Mr. Putin’s personal wealth, but suggests that it may not be as enormous as many have suggested. The reason he “maniacally clings to power,” the report says, is the “atmosphere of wealth and luxury he has become accustomed to, and categorically does not want to part with.”

Image The Rossiya, top, which was upgraded in 2005 at a cost to the Russian budget of $1.2 billion, according to the report. The Petrel, above, is a motorized yacht built to hold six passengers and 30 guests.

In response to a written query, the Kremlin’s press office said Mr. Putin’s spokesman, Dmitri S. Peskov, was on vacation and unable to respond to the substance of the report. In a response reported by Kommersant, however, Mr. Peskov said the residences, aircraft and cars were government property used lawfully by the president.