We have had the iPhone encrusted with diamonds so why not the iPhone 3G. Swiss luxury designer and jeweler Knalihs Athem's newest creation is an iPhone 3G encrusted with more that 475 finest quality brilliant cut diamonds that weigh 3.75 carats in total. Only 50 such handsets will be created worldwide. Each handset is accompanied by appropriate and official diamond grading report from a gemological lab. The first 10 pieces would be sold for $10,000 after which the pricing would be revised.

Athem (Thanks Sam)