Forget about I Am Rich the iPhone application that does nothing but which was retailed at $999, those cheaper diamond encrusted iPhone, golden iPhone, diamond embedded cases, the best deal ever for the iPhone 3G is here. Pay up $2.5 million and walk away with the world’s costliest gold and diamond encrusted iPhone 3G.

This special iPhone 3G comes from the same jeweler who is an expert in ornamenting smartphones and is the same maker  who encrusted the first generation iPhone with diamonds. The whole ornamentation consist of 18 carat yellow gold, white gold, rose gold, 138 well cut diamonds. The iPhone’s home button is transformed into a lovely diamond logo with 6.6 carats of gold filled with diamonds. 

This is one gadget through which you can show off your wealth and declare your love for Apple’s iPhone. This is also one way to beat the recession blues may be. I will tell you later whether this is meant to be a phone or an ornament. The jeweler has diamond encrusted phones from other makers too such as Nokia, Sony Ericsson, etc. Take your pick here.