A new Ferrari chronograph watch is now available from the automaker’s online store and is scheduled to reach official Ferrari Stores worldwide from the end of August. The watch is the Ferrari Lap-Time chronograph, which was developed specifically to meet the needs of the Scuderia Ferrari racing division.

Made of stainless steel, the watch is 45mm in diameter and 100m water resistant. A self-winding mechanical movement beats at almost 29,000 vibrations an hour to keep the watch perfectly on time, and the movement itself features a rotor engraved with Ferrari's renowned Prancing Horse symbol. This symbol is also found on the winding crown and push pieces.

Key features of the new Lap-Time chronograph include an engraved case, small tachometer markings, three different time zones, and Scuderia Ferrari embossing.

The similarity between precision timepieces and supercars is remarkable as both are expensive, desirable and extremely capable in their respective functions - thus the marriage between the Lap-Time chronograph and Italian supercar manufacturer Ferrari to construct the new watch seems to be an obvious one. Pricing starts at €295 (approximately $420).