Apple today announced the long-rumored AirPods Max, which despite the name are not earbuds but over-the-ear headphones. They’re also ridiculously expensive.

“With AirPods Max, we are bringing that magical AirPods experience to a stunning over-ear design with high-fidelity audio,” Apple senior vice president Greg Joswiak said in a canned statement. “The custom acoustic design, combined with powerful H1 chips, and advanced software enable AirPods Max to use computational audio to wirelessly deliver the ultimate personal listening experience.”

Available in space gray, silver, sky blue, green, and pink at a cost of $549—yep, you read that right, $549—the AirPods Max are available for preorder today and will ship next Tuesday, December 15.

So what do you get for this mortgage payment? According to Apple, the new headphones feature “a custom acoustic design, H1 chips, and advanced software to power computational audio for a breakthrough listening experience with Adaptive EQ, Active Noise Cancellation, Transparency mode, and spatial audio.” There’s a so-called digital crown—others might just call it a volume nob—for “precise volume control and the ability to play or pause audio, skip tracks, answer or end phone calls, and activate Siri.” And a lame-looking wrap-around case of sorts that only covers the headphones. Battery life is rated at 20 hours.

You can learn more at the Apple website.

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