Gold Apple Watch Edition may be very expensive, possibly even five grand?

The Apple Watch was revealed last week, although it's still early days for the device, as unlike the new iPhones which go on sale tomorrow, the watch won't be available until early next year.

That's why Apple has yet to reveal the full details on the spec of the device, or any pricing beyond what the range will start at. Price-wise, the only thing we actually know is that the base Apple Watch Sport will start at $349 in the US (£215) – not particularly cheap compared to rivals such as the pretty classy looking Moto 360 which is $250 (£153) State-side.

However, according to John Gruber over at Daring Fireball, the prices of the stainless steel version, and particularly the gold Watch Edition, will be pretty much sky-high.

Gruber notes that Apple is positioning its watch as just that – a luxury watch, not a techy smartwatch to compete with the likes of the Galaxy Gear, G Watch and so on (even though clearly it is a smartwatch in terms of functionality).

Apple is going for a fashionable, high-end timepiece with a price to match, he contends, and it will ask around $1,000 (£610) for the stainless steel Apple Watch, and $5,000 (£3,070) for the 18-karat gold Watch Edition. If he's anywhere near the mark, more than a few jaws are certainly going to be hitting the floor.

Related: Is Apple Watch late to the party?

Gruber notes that the gold version of Apple's watch isn't just gold plated, it's solid 18-karat gold – and he confirmed this with Cupertino. Of course, a solid lump of gold is pricey on its own, let alone when it's been transformed into a luxury watch stamped with the Apple brand – so maybe Gruber's onto something here.

It seems that the plan is for the Sport version of the watch to be affordable by anyone, but the tasty models are going to be for big spenders only. And that does tally with Apple's philosophy to flog premium devices with as high a profit margin as possible, of course.

This is certainly an interesting angle on the device, and perhaps explains why Apple hasn't driven all-out for functionality, at least not from the get-go. Some were pretty disappointed with the lack of sensors on board the Apple Watch – there's movement tracking and a heart rate monitor, but nothing we haven't seen before. More sensors and features are planned for the future, though...

Read more: Apple Watch will get more health features and sensors in future versions

Meanwhile, if you're thinking about getting the Apple Watch, just bear in mind that it might just cost you a wrist and an elbow, along with the standard arm and leg, if you want it in gold.