Better start saving up if you want to buy an Apple Watch.
Investment firm Piper Jaffray estimated Monday that the entry-level Apple Watch (called “Apple Watch Sport”) might actually cost most people around $450 instead of the $349 that Apple has officially said—when you take into account customizable features like the watch case, data storage and wrist strap.
Apple hasn’t yet announced a price for the mid-range Apple Watch (called simply “Apple Watch”), which is stainless steel and features a sapphire crystal screen, but Piper Jaffray estimates it could start around $499 to $549 and go up to $650, again depending on customizable features.
The heaviest price speculation has been around the high-end, 18-karat gold Apple Watch (dubbed “Apple Watch Edition”). Analysts have previously estimated these watches could start around $4,999, but Piper Jaffray estimates they could actually cost around $7,500, taking into account luxury wrist straps made from precious metals.
Most of Apple Watch’s specifics—but not all—have remained unknown since the device was unveiled last September. More information about the gadget is expected to be revealed at Apple’s March 9 event, while the watch will go on sale in April.