LeBron James, the NBA two-time champion and four-time most valued player, teamed up with Swiss watchmaker Audemars Piguet to design a $51,500 limited edition watch.

"I always liked watches growing up. When the opportunity presented itself it was easy to say yes," James told CNBC in Geneva, Switzerland, at the watch factory in late August.

The watch, called the Royal Oak Offshore Chronograph, comes with an 18-karat pink gold case, black ceramic and diamond set push pieces, and a hand-stitched gray crocodile strap. Six-hundred of these watches went on sale at the end of September.

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"Anytime I do anything or have a partnership with anyone that has my name on it, I like to have a lot of personal trace in it," said James, whose signature is printed in blue on the sapphire crystal in the back of the watch.

The Swiss watchmaker has a long history of working with athletes and has had partnerships with everyone from basketball legend Shaquille O'Neal to PGA golfer Keegan Bradley.

"He [LeBron] is truly a unique person," said François-Henry Bennahmias, CEO of Audemars Piguet. "When we met for the first time there was a good connection and we knew that we would do something together."