Dez Bryant -- Check Out My $61K Watch ... It's Got 300 Diamonds!!

It ain't bad being Dez Bryant ... 'cause the Dallas Cowboys superstar just got a SWAGGED out luxury watch worth $61k ... and it was FREE!!

Here's what we know ... Bryant is now a brand-ambassador for Hublot -- and the CEO of the company is so pumped about their partnership, he met up with Dez in London to personally gift him with one of the sickest watches they make.

It's called the "Hublot Big Bang Unico King Gold Pave" -- made with 18 karat King gold (gold blended with platinum and copper) and encrusted with more than 300 DIAMONDS!!

The timing's fitting ... as we previously reported, Dez signed with Roc Nation Sports earlier this week ... and Hublot is super popular with celebs like Jay-Z.

And the winner is Dez.