Oculus Rift Release Date: Oculus is targeting  a first quarter of 2016 launch for the headset. The two-piece Oculus Touch controller is scheduled for 2Q.

Oculus Rift is getting closer to launch but there are still questions about how much the headset will cost. Oculus CEO Palmer Luckey hinted that the Oculus Rift headset will not come cheap.

Nate Mitchell, vice president of Oculus, announced that the first model of the Oculus Rift would arrive with a bundled Xbox One Controller. Buyers who don't own a capable PC rig could be paying as much as $1,500  for the consumer Oculus VR experience.

When the Oculus Rift first debuted on Kickstarter, the first development kit cost $300. The second kit, improved on the platform and cost $350. Analysts predicted that Oculus try to keep the Oculus headset near that price, but Lucky hinted that the new devices that will cost users well over $350.

Palmer Luckey told RoadToVR website that the final price could go well over $350 at the Oculus Connects developer conference last week,

"We are roughly in that [$350] ballpark, but it is going to cost more than that," said the founder of Oculus VR.

"It would really suck if you put something out there and people were like 'Ah man ... the Rift is good, but it's not quite there', you know?" Luckey told RoadToVR.

"I can't tell you that it's going to be $350, and I would say I think people are going to be happy with what they get for the price because I really do think it's going to be that best VR headset you can buy. ... And the reason for that is that we've added a lot of technology to this thing beyond what existed in the DK1 and DK2 days."

Luckey said Oculus has to get it right the first time because "bad VR is the only thing that can kill off VR." Oculus partnered with Samsung on a cheaper VR headset for smartphones.

Oculus CEO Brendan Iribe hinted that the VR headset from Oculus Rift will cost about $1,500 along with a computer capable of running the software.

At the Oculus Connect developer conference Luckey said the final consumer version of the Oculus Rift would be priced at $350, he stated the Rift will cost more than $350.

"With all the projects we're working on and all the partners we're working on, I'm confident there's going to be VR existing at multiple quality points and price points," Luckey said. "With the Rift, it makes sense to do what nobody else is doing which is invest in making the best possible quality headset."