Watchmaker Richard Mille and jewelry maker Boucheron have teamed up to combine meteorite fragments and rare earth rocks to create the RM-018 Tourbillion wristwatch. It's worth a cool $1 million, and only 30 have been made.

The movement wheels are made of chondrite meteorite, which comes from an asteroid belt between Jupiter and Mars. According to Richard Mille spokeswoman Laura Hughes, 90 percent of these stones broke at the factory, and the breakage cost is just one reason the watch carries a $1 million price tag.

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"It had to have elements of high jewelry to be Boucheron, but Richard [Mille] is all about engineering and pushing boundaries," she said. "Richard wanted to twist it, turn it on its head, so he used beautiful stones, precious jewels. … on the inside."

The jewels are visible thanks to a synthetic sapphire that's used to make the top and bottom of the case. It's not only clear, it's eight times more scratch-proof than stainless steel. The rest of the case is made from 18-karat white gold. But despite the fact that the super rich can use whatever material they want for the strap, the Tourbillion uses rubber.

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"Natural rubber. It's actually a pure beautiful material, and so comfortable, and so a lot of the watches in the collection come in a rubber strap," Hughes said. "But of course, the owner of this will have his options."

—By CNBC's Jennifer Schlesinger

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