World's costliest phone @€1 mn

Cannes (France): The Millionaire Fair debuted in the resort town of Cannes, south of France on Friday September 1.

Three years ago, a publishing company - Gijrath Media Groep BV (GMG) floated the idea of organising a Millionaire Fair, with the aim of bringing together Millionaire magazine readers and advertisers and the top names in the international luxury goods industry together during an event with a theme closely related to the magazine, The Luxury Lifestyle.

From its inception in November 2001 in the Netherlands, the Millionaire Fair's popularity has grown annually, with over 26,000 visitors wanting to sample a piece of the good life.

One of the highlights of this year's show was the sale of what is what is believed to be the world's most expensive cell phone, produced by the Swiss company, GoldVish.

Speaking on behalf of the company GoldVish Chairman, Gregor Snip told Reuters, "This is a unique GoldVish piece. There are only three pieces in the world. This is the most expensive cell phone in the world. The price is €1 million."

The phone has entered the Guinness Book of World Records as the expensive cell phone ever sold in the world.

However, the lucky man brave enough to part with € 1 million ($1.2 million) for the hand held device - a Russian businessman - could not make it to the fair.

Instead he sent a friend named Ilgo Rustamov, who travelled to France to collect the phone on his behalf.

"I came to receive this mobile phone or this luxury communication device I should say on behalf of my friend. The phone is a gift for his wife," Rustamov told Reuters.

However, there are more than just diamond encrusted mobile phones on display for the mega rich at the fair.

Other luxury items on sale at this years event include items of art and antiquities, automotive and aviation products including private jets and helicopters.

And for the spiritually rich, visitors can sample cosmetics and beauty goods, fashion and couture items as well as home design products.

Millionaire Fair is billed as the the only event in the world that welcomes those who enjoy luxury in an atmosphere of wealth, glitter and glamour.

With every available part of the exhibition centre transformed into a luxury shopping paradise.