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Most US consumers can buy an Apple (NASDAQ: AAPL) iPhone 4 for $200 or $300, depending on the amount of memory storage. The device can cost closer to $600 when it is not tethered to an AT&T (NYSE: T) wireless subscription service.

There is at least one iPhone 4 which is much more expensive than standard models. A bejeweled Apple handset has been sold to gold-mining baron Tony Sage for $8 million. Stuart Hughes, a retailer of expensive devices, based in the UK, has built a new iPhone 4. Only two such handsets will be built, but that may depend on demand.

The handset’s specs for the iPhone 4 Diamond Rose Edition are:

The bezel is handmade from rose with approx 500 individual flawless diamonds which total over 100ct.The rear section is formed using rose gold with the added touch of its rose gold Apple logo and 53 diamonds. The main navigation is made from platinum which holds a single cut 7.4ct pink diamond. Also included (not shown in picture) is a rare 8ct single cut Flawless diamond which can replace the pink one. The chest which houses this unique handset is made from a single block of Granite , in Imperial Pink with the inner lined with Nubuck top grain leather , which weight is a massive 7kg.The handset is 32gb and limited edition of only 2 to be ever made.

In a world in which many rich people have more money than sense, Stuart Hughes will be able to sell dozens of the  impractical devices. Apple products already have a cache of their own. What Apple fan would not like to own the most expensive iPhone 4?

The new version of the phone may have flaws. The antenna may not work. The screen may break easily. That does not matter to the filthy rich. They can always afford repairs.

Douglas A. McIntyre