Reggie Bush -- Check Out My New $200k Watch!

Reggie Bush's swag just hit Jay Z levels -- 'cause the NFL star just got himself a brand new $200,000 timepiece from the rap mogul's favorite watch company ... TMZ Sports has learned.

The Detroit Lions running back was flashing a Tourbillon Councept GMT Royal Oak by Audemars Piguet ... which often retail between $200k and $250k.

We spoke with a watch expert who told us Bush's new piece of man jewelry is "one of the finest watches out there ... it's a really special thing."

As for Jay Z, he's been shouting out the watch in rap songs for years ... and had a deal with the company for his own custom line back in 2005. Plus, he wears Audemars Piguets all the time.