Debenhams' £58 diamond watch is perfect for Christmas and looks like £7.5k Rolex

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Are you looking for the perfect posh watch to gift this festive season without breaking the bank? Look no further than Debenhams' fab deal on a high-end inspired wristwatch at a bargain price just in time for Christmas.

Debenhams has slashed the price of the stunning £425 August Steiner AS8103 Casual Watch to a mere £58, boasting a sensational 86% discount for a short period.

You'll be making a nearly £367 saving - and let's face it, who wouldn't love that? Moreover, it looks strikingly similar to a much more expensive Rolex watch.

If you were to opt for the Stainless Steel Datejust Silver Stick Dial Fluted Bezel Jubilee Watch from the high-end brand, it would set you back a cool £7,484.99, reports the Manchester Evening News.

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