A very limited edition of customized iPhones priced at a staggering $1 million has just been launched by luxury goods group Alchemist London.

Featuring 700 crystals, the iPhones are encased in 24-carat gold handmade casing. The main navigation button holds a single cut two-carat diamond and the Apple logo on the rear is also fabricated from 53 diamonds.

Only four of the extremely limited edition super-bling designs have been fabricated — two iPhone 5 models and two iPhone 5S models.

Alchemist, a luxury boutique known for its extravagant creations, referred to the seven-month creative process as “a challenge of epic aesthetic and technical proportions.”

Although the price tag might seem incredible, this is not actually the most expensive iPhone to have hit the market.

In 2013, luxury goods company Stuart Hughes was commissioned to create a gold and diamond iPhone reputed to have cost almost $15 million.