This Mercedes-Benz 300SL Gullwing by Hot Wheels costs $12,000

That is not a typo. This Hot Wheels Mercedes-Benz 300SL Gullwing costs upwards of $12,000 – $12,908 in today's exchange rates, to be exact – and is possibly the most expensive Hot Wheels toy car ever made. It's a lot of money for a 1:64 scale model car, but there's a catch: It comes with an exclusive IWC Pilot's Watch Chronograph Edition, all neatly packaged in a glorious metal toolbox.

The car is part of the IWC x Hot Wheels Racing Works box set, with only 50 to be made. However, taking a careful look at the exquisite detailing reveals this is not your run-of-the-mill Hot Wheels car. According to Hot Wheels, this Mercedes-Benz 300SL is the most exquisitely detailed Hot Wheels car ever made, and it shows.

Of course, the model car is courtesy of the Hot Wheels design team, but the folks got some much-needed creative guidance from Manson Cheung and IWC designer Nicholas Schmidt. In addition, the intricate livery is by Steve Vandervate. Opening those fabulous gullwing doors will reveal a genuinely detailed interior with a racing roll cage., bucket seats, and red sill trims.

"It was a chance meeting with Hot Wheels designer Manson Cheung that kick-started our partnership. Our shared passion for automotive design and mechanical watches led to a meeting between the design teams of both brands at the Mattel Design Center in El Segundo," said Christoph Grainger-Herr, CEO of IWC Schaffhausen. "We instantly connected, and I am proud of our collaboration and the unique projects we have brought to life so far."

Meanwhile, the included Pilot's Watch Chronograph Edition has a 43-millimeter grade 5 titanium case with a dark gray matte finish and Hot wheels flame logo engraving. It has a black dial with chequered flag patterns around the chronograph totalizers. In addition, IWC's 69385 caliber movement timepiece is visible through a smoked glass case back. It also has a silver and black textile strap with a similar color scheme as the Hot Wheels Mercedes-Benz 300SL model car.

So, if you like the watch and the car, place your order quickly before all 50 sets dissapear in a cloud of smoke. Bonhams will auction the first set for charity, which means only 49 IWC x Hot wheels Racing Works box sets are up for grabs.