Diamond studded platinum handbag: $1.63 million

Lately, a fashion show was organized by jewellery maker GinzaTanaka in Tokyo on 14 June 2007. The fashion show presented an array of elite products displayed by models on ramp. Out of the lot, the platinum handbag studded with 2,182 diamonds totaling 208 carats invited eyeballs.

The bag is retailed at 200 million yen ($1.63 million).