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The $10000 Apple Watch has lost its luster

The ceramic versions will start at $1,250, just a tad cheaper than the gold model, which started at $10,000.

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Apple is phasing out smartwatch models made with 18-karat gold.

Apple announced their new iPhone 7 and iPhone 7 Plus smartphones alongside a new Apple Watch Series 2 wearable, with some notable upgrades over the original Watch from 2015. The single new model is white ceramic and it costs $1249 (38mm) and $1299 (42mm).

Obviously Apple was unable to convince luxury watch buyers to invest $10,000 plus in an Apple Watch, so they chose to cancel the high end models.

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Completely absent was any mention of the Apple Watch Edition branding, which Apple used a year ago to launch a pair of $10,000-and-up Apple Watches that worked the same way as the cheap ones but were made out of actual gold instead of workaday, plebeian metals. We’re not sure how much more popular the ceramic version will cost, but like we said, with it being about a tenth of the price of the gold version, it is certainly a lot more accessible.

Jeff Williams Apple's chief operating officer speaks during an event to announce new products on Wednesday Sept. 7 2016 in San Francisco