The new Apple Watch Series 5 starts at $399

The Series 4 has been discontinued -- but the Series 3 just got a lot more affordable.

Justin Jaffe Managing editor
Justin Jaffe is the Managing Editor for CNET Money. He has more than 20 years of experience publishing books, articles and research on finance and technology for Wired, IDC and others. He is the coauthor of Uninvested (Random House, 2015), which reveals how financial services companies take advantage of customers -- and how to protect yourself. He graduated from Skidmore College with a B.A. in English Literature, spent 10 years in San Francisco and now lives in Portland, Maine.
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Justin Jaffe
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Update, Sept. 18: Read our full rated Apple Watch Series 5 review here.

The Apple Watch Series 5 has arrived. And, from a pricing perspective, it picks things up where the Apple Watch Series 4, which has now been discontinued, left off. 

Bottom line: the brand-new Apple Watch Series 5 starts at $399, though special editions -- which feature premium materials (including silver and titanium) and co-branding (including Hermes and Nike) -- are more expensive. The older Apple Watch Series 3, however, has become much more affordable, now starting at $199. 

The major changes to the Apple Watch lineup:

In discounting the list price of the Series 3, Apple has simply formalized the discounts we've been seeing for months at Amazon and Walmart. In the coming weeks, we expect third-party sellers to further cut prices on an array of older models -- including the Series 4 -- in order to clear the way for new inventory. So, if you're considering a purchase, keep an eye on our list of the best Apple Watch deals, which is updated daily. 

Watch this: Apple Watch Series 5 is always on

The Apple Watch Series 5 is now available for preorder and will hit stores on Sept. 20. The chart below shows the list price for each version of the Apple Watch Series 5 and the new pricing announced today for the Series 3.

Apple Watch prices, compared

Model List price
Apple Watch Series 5 GPS (40mm) $399 / £399 / AU$649
Apple Watch Series 5 GPS (44mm) $429 / £429 / AU$699
Apple Watch Series 5 GPS + Cellular (40mm) $499 / £499 / AU$799
Apple Watch Series 5 GPS + Cellular (44mm) $529 / £529 / AU$849
Apple Watch Series 3 GPS (38mm) $199 / £199 / AU$319
Apple Watch Series 3 GPS (42mm) $229 / £229 / AU$369
Apple Watch Series 3 GPS + Cellular (38mm) $299 / £229 / AU$469
Apple Watch Series 3 GPS + Cellular (42mm) $329 / £329 / AU$519

The company has been adjusting the price of the Apple Watch since it first debuted in 2015. The original model, now sometimes referred to as the Series 0, cost $349 (38mm) and $399 (42mm) when it was introduced. In light of its popularity, Apple lowered the starting price of its successor, the Apple Watch Series 1, which started at $269 and $299. The company reversed course the following year, with the introduction of the GPS-enabled Apple Watch Series 2, which cost $369 and $399. 

Read: 13 Apple Watch bands to get on Amazon  

Apple gave the GPS-only Series 3 a starting price of $329 and $359, though the cellular versions were much more expensive -- $399 (38mm) and $429 (42mm). Last year's Series 4 marked another rather dramatic change, as Apple both tweaked the sizes of the watches upwards to 40mm and 44mm, and increased prices accordingly. When they were released, the Apple Watch Series 4 GPS models started at $399 and $429 and the LTE models cost $499 and $529.

Watch this: All the new products from Apple's iPhone Event 2019