New York ( CNN ) -- Family heirlooms are often packed away for safe keeping . For one man from China , hiding a 26-carat black diamond worth $ 14.5 million was not in his plans . A businessman from Hong Kong commissioned craftsman Stuart Hughes of Liverpool to help him show off his family treasure . The result ? An iPhone 5 boasted by Hughes to be `` the world 's most expensive phone , '' valued at $ 15 million . According to Hughes ' website , this iPhone includes 600 flawless white diamonds , a full solid gold dressing and 53 diamonds on the rear that make up the iconic Apple logo . However , the reason this particular iPhone is so valuable is on the face of the phone . The Chinese businessman , identified only as `` Joe , '' contacted Hughes and asked to have a rare , black diamond incorporated into the iPhone . `` It 's not often that people get to deal with a very , very rare diamond , '' Hughes said . Hughes said he was contacted 18 months ago by Joe , who expressed interest in his gold chassis iPhone handsets . Joe then told Hughes about the black diamond that had been in his family for generations . Hughes spent nine weeks creating the solid gold chassis of an iPhone 5 and then placed the black diamond as the home button . The appraisal Joe had done on the black diamond put its value at approximately $ 14.5 million , according to Hughes , who said he saw the certificate of authenticity . Hughes told CNN that one of the solid gold handsets with the diamonds that he crafts is worth approximately $ 153,000 . `` We had a tech guy in Macau who was able to set the stone , which to this day has never left China , '' Hughes said . Hughes set a record in 2011 for crafting an iPhone 4S with 500 individual diamonds , totaling more than 100 carats . That phone was estimated to be valued at $ 9 million . The 42-year-old craftsman is known for making lavish and expensive items , including an iPad made of solid gold he debuted two years ago . `` I am a craftsman , '' Hughes said . `` I basically fulfill and make up these ideas . '' Throughout the years and his many projects , Hughes said this particular handset is right up near the top of the most lavish projects he 's completed .
The `` iPhone 5 Black Diamond '' is estimated to be worth $ 15 million . Black diamond in the home button was appraised at $ 14.5 million . Comment: Rare , black diamond has been in the family for generations .