There are an unusually large number of design awards, but not one of them holds a candle to the Red Dot, which is inarguably the most famous and important of them.
The Red Dot awards prizes for design in a multitude of categories, from refrigerators to lawn mowers and everything in between. These prizes are also awarded on many levels, e.g. Best of the Best, Honorable Mention, etc.
However, until the 2015 edition of the competition, there has never been a dedicated watch category.
Two of the watches in 2015 received the highest honor of Best of the Best: Horological Machine 6 Space Pirate by MB&F and the Apple Watch.