According to CNBC, Tag Heuer will unveil its Android-powered smartwatch on November 9th at the LVMH building in New York City. The watch will cost, wait for it… $1,800 dollars.

Several months ago, Tag Heuer announced that it would be launching a smartwatch based on Google’s Android Wear OS in a venture with Intel in order to compete with the Apple Watch. With Apple pushing ahead in the luxury market, particularly in watches priced under $1,000, Tag Heuer feels like they can compete with something more luxurious than typical stainless steel Apple Watch.

CEO of LVMH, Jean-Claude Biver, told CNBC earlier this year that he believes the Apple Watch could boost the timepiece industry and even showed praise to the Apple-Hermes deal because it shows that the smartwatch has “cracked the luxury market.”

We were a little bit concerned about the price, because we’re going to sell it at $1,800 … and now we are quite reassured because Apple is telling us we can sell at $1,500 or even more.

Interestingly, Biver told CNBC that it would be “ridiculous” to try and chase Apple, but believes they have something great on their hands given their partnership with Google and Intel. Rumors of the watch in the past suggested that it would carry a $1,400 price tag, would last for 40 hours, and would even have upgradable components.

It won’t be long before we find out how ridiculous an $1,800 smartwatch is, if it is ridiculous at all.