Courtesy of DKNY

What better time to release a million-dollar perfume then during an economic recession? DKNY's latest venture is an exquisite fragrance bottle carved from 14-karat gold and coated in 2,909 precious stones, including a 7.18-carat sapphire, a 4.03-carat pear-shaped diamond and 3.07-carat ruby. Yikes.

Slightly redeeming is the fact that net proceeds go to Action Against Hunger, a charity that works to fight world hunger. But wouldn't giving the money straight to charity might have been a tad more efficient? The good news is, if you fancy the scent without the bejeweled exterior, the fragrance alone is available at department stores for $42.

Shockingly, DKNY's price - though high - is not entirely out of the ballpark of other luxurious perfumes. Check out our gallery of the most outrageously expensive scents we could find and tell us: would you ever pay this much to smell nice?