The House of Mouawad has just unveiled the Mouawad 1001 Nights Diamond Purse, the world’s most expensive handbag, valued at a staggering $3.8 million.

The most expensive purse in the world was designed by Robert Mouawad and handcrafted by 10 artisans in over 8,800 hours.

The heart-shaped purse incorporates 18kt gold and 4,517 diamonds (105 yellow, 56 pink and 4,356 colorless) with a total weight of 381.92 carats.

Commissioned by a mysterious Chinese client, Italian styling house Fenice Milano has teamed up with exclusive gadget designers Stuart Hughes to create the 500,000 Euro ‘Fiat 500C La Dolce Vita Gold and Diamonds 200hp’.

The interior of the Fenice Fiat 500 Convertible Abarth has been decked out with teak inserts, special leather and diamonds.

The console is embellished with a gold framed instrument panel and teak and 24K gold inserts dashboard, whose profiles are hand-shaped by FM’s artisans.

The Golden Nugget hotel in downtown Las Vegas is living up to its name with the installation of an ATM that dispenses gold instead of cash.

Visitors are now able to buy gold coins and 24-karat “bars” weighing from 1 gram to 1 ounce at the new Gold to Go machine.

Prices automatically adjust every 10 minutes to reflect actual market value. The one ounce coin, at the moment, goes for about $1,400.

Japanese jewelry maker Ginza Tanaka has put on sale a 2011 calendar made of 6 kilograms of pure gold featuring popular Dutch rabbit character Miffy.

The calendar measuring 64 centimeters by 40 centimeters is on sale at eight outlets of the company as well as online.

The special solid gold Miffy calendar celebrates the “Year of the Rabbit 2011” and is on sale for a whopping 55 million yen ($655,000).

Swiss auto designer Ueli Anliker has unveiled at the Dortmund MY CAR tuning show this McLaren SLR 999 adorned with a gold-plated finish of more than 5 kg.

The car also features 600 rubies, some of which measure up to 35 mm in diameter. This McLaren SLR 999 has an estimated value of $5.2 million.

The world-renowned Franklin Mint has unveiled a rare and unprecedented work of artistry – the Taj Mahal Gold Coin – at their new Manhattan showroom.

Minted and designed by the world-renowned Monnaie de Paris, only 29 of these coins will ever be produced.

The coin is not only the first and only French coin comprised of over 2 lbs. of solid gold, but it is the world’s first coin to include 68 hand-set Cartier diamonds.