Steel Apple Watch collection pricing will range from $549 to $1099 depending on band selection

Prices will max out at $1,049 for the 38-millimeter model, and $1,099 for the 48-millimeter version. Apple CEO Tim Cook made the pricing announcement during the company's "Spring Forward" event earlier Monday.

That slots the stainless steel Apple Watch in between the lower-cost Apple Watch Sport and the much more expensive Apple Watch Edition. The Sport model costs just $349 — $399 for the space gray variant — while the gold Edition starts at $10,000.

$549 will buy a 38-millimeter stainless steel model with a sport band. Stepping up to the classic buckle or milanese loop will move the needle to $649, while the modern buckle and milanese loop come in at $749.

The link bracelet will pop the price to $949, and $1,049 in space black. Add $50 to those prices for the 42-millimeter models.

Apple is using a custom stainless steel concoction for the Apple Watch. The company says its stainless steel is up to 80 percent harder thanks to a cold-forging process.

Design chief Jony Ive said during the event that Apple has "given a traditional material a new expression."