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.
The world's most expensive handbags Photo
