Swiss luxury brand Gresso is synonymous with decorative top-end smartphones as well as accessories that are perfect for those who are eyeing something exclusive.

Gresso has now introduced its latest iPhone 7 Black Diamond collection, which is composed of three black variants of the iPhone 7 that will set consumers back by a whopping $500,000 each.

The luxury handcrafted iPhone 7 has been spotted by the folks at PhoneArena and takes lavishness up several notches.

The luxe versions of the Apple flagship will redefine opulence, and for those wondering what makes it so special that it can command such an exorbitant price tag — the back panels of the handsets are embellished with a cool 1,450 black diamonds, which total 102 carats. Have we mentioned that the iPhone 7's body has been recrafted as well using top-of-the-line grade-5 titanium?

That's not all, the camera frame and Gresso logo are comprised of 10 gms of 18-karat gold. The iPhone 7 units are carefully handcrafted by Gresso, and for those wondering how long this labor of love takes to be assembled — 18 hours for a single piece.

The iPhone 7 is not the only Black Diamond-encrusted product that buyers get, as Gresso throws in AirPods that match the handset. The AirPods are also covered in black diamonds — 30 to be precise (2 carats).

All this you get for $500,000 and the iPhone 7 you get as part of this luxurious deal is the unlocked 256 GB version. In comparison, the regular model of the 256 GB iPhone 7 would set you back by $849.

Gresso is not only offering the $500,000 iPhone 7 but also a case that has diamond embellishments as well. It's made of grade-5 titanium, too, and has 18-karat gold inlay. The damages? Be prepared to shell out $2,500 for one of the 999 pieces the company made.

For those eyeing something floral, the Gresso Diva collection is a great option.

"The luxurious way of the new iPhone 7 by Gresso Diva underlined by a combination of expensive materials — diamonds, 18-karat gold and titanium. Exquisite floral ornament engraved with a jeweler's precision on the back of the product reflects the unique style and bright personality," notes the company.

If you are enamored by the Black Diamond-encrusted iPhone 7 and cannot wait to get your hands on the exclusively crafted version, you need to hold on to your horses. Why? Because Gresso is yet to reveal the shipping date for the product. Keep your eyes peeled on Gresso's website for more updates.

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