Champion, MVP, watchmaker: LeBron designs $51,500 watch

LeBron James has been hands on in creating a $51,500 watch with a Swiss watchmaker.

LeBron James is designing a watch. But if you want to get your hands on one, you may have to consider a second mortgage.

James and Swiss watchmaker Audemars Piguet are working on the design for a $51,500 limited edition watch. An avid watch collector, James was intrigued by the opportunity.

"I always liked watches growing up. When the opportunity presented itself it was easy to say yes," James told "The LeBron James brand is built around basketball. If I'm doing what I need to do on the basketball floor at a high level everything else takes care of itself."

The Royal Oak Offshore Chronograph has an 18-karat pink gold case, black ceramic and diamond set push pieces, and a hand-stitched gray crocodile strap. Audemars Piguet made 600 watches and they went on sale recently.

Audemars Piguet has worked with athletes before, teaming up with retired NBA star Shaquille O'Neal and golfer Keegan Bradley.

Now, they have chosen James, who has four MVPs and two NBA titles with the Miami Heat on his resume.

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

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