Like ultra expensive luxury cell phones, million dollar laptops and gold plated TVs, the market for the world's most expensive MP3 player is still a mystery to me. Of course, that doesn't mean I'm not fascinated that someone out there thinks they need it.

The player, which was created by Lorsch, was cast in 18 karat gold and adorned with 63 diamonds. Besides the gold-and-diamond exterior the i Beat Organix Gold player features a 1GB memory, a stereo FM radio, integrated voice recorder and an ultra-rich price tag of $20,000. In other words, it has half the features of the Insignia 4-Gigabyte MP3 and Video Player, which costs $160, only it's dipped in gold.