The Australian gold mining crowd clearly has more money than sense, as it's been revealed the iPhone 3GS Supreme Rose - a snip at £1.93 million - has been commissioned from the Goldstriker team.

This version beats the previously commissioned iPhone 3GS Supreme in the cost stakes by £10,000.

With another rare 7.5 carat single cut diamond centring the design, the new world's-most-expensive-phone also gets a platinum bezel, some 18 carat rose gold, a further sprinkling of diamonds and four 2.5 carat pink baguette diamonds rounding off the package.

While this obscene show of wealth perhaps suggests Australian gold is over-priced, we wait with baited breath to see the next instalment in the one-up-manship.