Diamond handbag? That will be £1m

Consumers have been buying ever more expensive designer handbags

For most women, a dependable handbag is de rigeur, but for fans of designer couture, the ultimate accessory has just arrived in the UK.

Valued at £1m, the diamond-encrusted platinum handbag will go on display at jewellery shops around London to mark the inaugural London Jewellery Week.

Created by Japanese designer Ginza Tanaka, the bag has been set with more than 2,000 diamonds.

The organisers of the event say the handbag will be available for sale.

If you are wavering about whether or not the price represents value for money, its promoters point out the versatility of the bag.

Its diamond shoulder strap can be detached and worn as a necklace or a bracelet, while the 8-carat pear-shaped diamond centrepiece surrounded by a cluster of eighty-one smaller diamonds can be taken off and worn as a brooch.

The locations where the handbag will go on display will not be disclosed in advance for security reasons.

London Jewellery Week, sponsored by Coutts, runs from 11-15 June, celebrating the work of established designers, such as Graff and Boodles, as well as new talent.