A man holds "The Mouawad 1001 Nights Diamond Purse" on display at the Doha Jewellery and Watches Exhibition, Feb 20, 2011.

"The Mouawad 1001 Nights Diamond Purse" is seen on display at the Doha Jewellery and Watches Exhibition, Feb 20,2011. The handbag incorporates 18 kt gold, 4,517 diamonds, weighs 381.92 carats and is valued at $3.8 million - setting the world record for the most expensive handbag, according the Guinness World Records.

Fred Mouawad, caretakers on the label, holds "The Mouawad 1001 Nights Diamond Purse" during the Doha Jewellery and Watches Exhibition, Feb 20, 2011.