Apple Watch Hands-On: The Wristwatch Just Caught Up To The 21st Century | aBlogtoWatch:

The Apple Watch in steel has a more durable case, sapphire crystal, as well as ceramic elements. I have hypothesized that it will be priced at around $500, but other sources have estimated that the steel Apple Watch will be priced as high as $1,000 – a price that would not surprise me.

Apparently the $350 is for the Sport only.  Ouch.