Stuart Weitzman Ruby Slippers
Valued at $1.6 million, these "Wizard of Oz"-inspired heels are more couture than Kansas. The sophisticated stilettos were designed with a cherry red insole, replete with a delicate upper of red satin and encrusted with an impressive 642 Burma rubies. The settings alone contain half a pound of platinum and boast a total carat count of 123.33. These dazzling delights were scheduled to make their red carpet debut in 2003, but were shelved because of the sober mood due to the war in Iraq. They came out of the closet later that year for display at Harrod's in London.