The ultimate proof that the recession is over, at least for the richest of us, is the fact that Stuart Hughes, the bling-iest Liverpudian of them all, brought out a £5 million iPhone 4 handset that's nearly three times more expensive than the 3GS it replaces.
The former most expensive handset, the 3GS supreme was launched back in November 2009 and was reportedly commissioned by an Australian-based gold magnate and we don't know whether it is the same businessman, Tony Sage, who later purchased two of the newer iPhone 4 Diamond Rose.
The iPhone 4 Diamond Rose edition is hand made with the total cost of the material estimated to be worth around £4 million alone and the fact that the phone is pink with a matching chest that houses the phone leaves us to think that it might be a girlie gift.
Interestingly, the phone can be purchased online though we seriously doubt that anyone will be daft enough to order something that expensive and pay it via credit card (and expect it to be delivered by insured courier).
It is worth noting that Stuart Hughes does repackage other luxury products as well such as televisions, iPad, laptops, MP3 players, watches, Hi-fi music systems and gaming consoles like the £300K Nintendo Wii Supreme.
The obvious problem here is that the gadgets themselves become obsolete within months and that there's no clear-cut way of recycling the precious stones and metals.
Furthermore, the very fact that you need at least six months to design and manufacture these oeuvres d'art make it impossible to have a quick turnover.