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President Putin apparently has a taste for luxury watches – some of which he has given away (to a Siberian shepherd, and to a factory worker), or tossed into the wet cement of a construction site. Each of these giveaways was worth over $10,000.

A video compiled by the Russion opposition group Solidarity shows a catalogue of his watch collection, which is claimed to have cost more than $700,00 – which is about six times his official annual salary…

Also featured in the video is President Obama, who is wearing a watch costing $350.

You can watch the video here: www.youtube.com/watch

And here is a news article about it: abcnews.go.com/blogs/headlines/2012/06/putins-extravagant-700000-watch-collection/