It looks like we won’t have to depend on rumors and leaks to find out just how much the Moto 360, Motorola’s upcoming Android Wear-based smartwatch, will cost upon launch. In the process of announcing a contest that could win someone the watch, Motorola has revealed that the average retail value (ARV) will be $249.99. 

The ARV is listed in the contest rules put out by Motorola, and is considerably lower than the price tag a recent rumor said would be attached to the Moto 360. The ARV can always be different from the actual launch price, but it’s still a good sign that the Moto 360 will be a product that matches an affordable price with a stunning design. It would certainly be a talking point against the Gear 2, which retails for $299 (but does make up for the high price with features like a camera and heart rate sensor.)

The contest rules also mention that the winner will be notified on June 24, which suggests we could see an official announcement – and maybe even a market launch – in the last week of June/early July. As for the contest itself, it involves creating a custom watch face design (Motorola is even offering official templates), then sending it in to Motorola before June 10. The 10 best designs will be posted on Google+ on June 17, and the winner will be selected through votes from Google+ users.