The world's most expensive handbags (one costs $3.8 million!)

Photo by: Fadi Al-assaad / Reuters
The "1001 Nights Diamond Purse" by House of Mouawad is covered in diamonds. Cost? $3.8 million-
Since the fashion industry is constantly recycling past styles and ... more 
Photo by: Fadi Al-assaad / Reuters
The "1001 Nights Diamond Purse" by House of Mouawad is covered in diamonds. Cost? $3.8 million-
Since the fashion industry is constantly recycling past styles and struggling to come up with new concepts, often "in the know" stylish types attempt to get noticed by creating or wearing the most expensive or most extravagant item possible (ahem, Lady Gaga). Until now the big status get was the $20,000 Hermes Birkin bag (made famous by Samantha on "Sex and the City"), but it's nothing compared to House of Mouawad's new "1001 Nights Diamond Purse," which clocks in at a whopping $3.8 million.

Encrusted with over 381 carats of diamonds, this heart-shaped bag has been named the world's most expensive handbag by the Guinness Book of World Records. In it, 4,517 diamonds were usedâ€"105 yellow, 56 pink and 4,356 colorlessâ€"and it took 10 artisans 1,100 hours to complete. They dedicated four months to the project.

“The Mouawad 1001 Nights Diamond Purse is designed to mesmerize with its lavish attention to detail and elaborate workmanship incorporating thousands of diamonds,” Pascal Mouawad, co-guardian of the House of Mouawad, told the Today Show. The purse was on display at the Doha Jewellery and Watches Exhibition this past weekend, and it is not yet known if there was a buyer.

Crafting luxury items is not new territory for the Dubai-based jewelry company. The House of Mouawad is respons less 
1 / 12
Tue, Nov 8, 2011 5:40 PM EST
Related links:


18 absurd and frivolous designer items
$500 socks and other insanely overpriced legwear
14 things your handbag shouldn't look like