Expensive, useless, a jewel for iPhone

 Is this the most expensive iPhone application ever?

IAmRich is the latest from developer, Armin Heinrich. It costs almost $1,000 (£599.99), and does absolutely nothing at all.

As noted by Alley Insider, the application simply displays a red virtual gem on the screen of the iPhone. And the developer’s description is moderately amusing, too.

"The red icon on your iPhone or iPod touch always reminds you (and others when you show it to them) that you were rich enough to afford this," the app’s information page says in iTunes. "It’s a work of art with no hidden function at all."

The developer also offers Calc Pro – a more advanced calculator for the iPhone.

Erm, we’re puzzled what to think? Is this what to expect from the world’s most advanced ecosystem? What are your thoughts?

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