You can either buy the world's most expensive gold iPhone 5 engraved with diamonds or buy more than 20,000 iPhones. A proud owner of the world's most expensive iPhone 5 did not think twice before putting his family fortune to best use.

U.K. based craftsman, Stuart Hughes, was contacted by a Chinese businessman because of his interest in iPhones with gold chassis. He commissioned Hughes to build him an iPhone and expressed his desire to use a 26-carat black diamond which was in his family for generations. Hughes said that the rare black diamond was approximately worth $14.5 million and he had verified the certificate of authenticity, according to CNN news report.

Hughes said it took him 9 weeks of "detailed intricate work to re-create the original chasis of the iphone 5 in solid gold, all of which was started and finished by hand." He placed the rare black diamond in the best place, he replaced the Home button with it. The iPhone was highlighted with 600 flawless white diamonds bordering the sides. The Apple logo at the rear end of the iPhone included 53 flawless diamonds. Details of the businessman remain unknown including his name. 

Hughes built the world's most expensive iPhone 4S in 2011. The iPhone 4S, engraved with 500 diamonds weighing more than 100 carats, was valued at $9 million. Hughes' list of designing lavish and rich gadgets includes iPads and MacBooks in gold and platinum.

Hughes has also designed 24-carat gold iPhone 5s which start at $4,000 and rose-gold iPhone 5s with a price tag of around $5,300. An eighteen carat rose-gold version starts at $4,100 and the platinum version can be bought at $4,400, according to Hughes' website.