(IDEX Online) - Luxury watchmaker Jacob & Co is paying tribute to the ultra-expensive Bugatti car company, with a $1m tricolor timepiece.The Bugatti Chiron Tourbillon Molsheim Edition takes its name from the $2.9m supercar, the super-accurate tourbillon watch mechanism and Molsheim, the French town where Bugatti was founded in 1909.The one-off 18K gold timepiece features three stripes of baguette-cut gems, with 148 blue sapphires (total weight of 8.53 carats) 43 white diamonds (total weight of 5.36 carats) and 149 rubies (total weight of 8.68 carats).The dial features sapphire and ruby hour markers while the minute track is all diamonds. The three-colored jewels stripes add $700,000 to the price of a standard Bugatti Chiron Tourbillon.The watch features a "groundbreaking complication" - a fully working replica of a Bugatti W16 engine made of tiny crystals."The crankshaft turns and the 16 pistons pump up and down, just like a true internal combustion engine. Two "turbochargers" (down from four in the actual Chiron engine) on the side of the engine block spin while the engine runs, adding to the visual impact," says the company.Pic shows the Bugatti Chiron Tourbillon Molsheim Edition watch and the $2.9m supercar which it honors