According to Official Guinness Records,
The most valuable handbag is a '1001 Nights Diamond Purse', which was made by the Mouawad company (USA) and was valued at $3.8 million (£2,375,850) on 23 November 2010.
The handbag came with the following desciption:
Alloy: 750 White Gold and Yellow Gold 786.20 grams
Gemstones: Centre heart Shape diamond 5.02cts F-VS1 GIA certified;Round Diamonds 333.84 carats Wesselton SI;Baguette Diamonds 27.51 carats Wesselton VS;Round Diamonds 7.66 carats Fancy Yellow;Baguette Diamonds 1.27 carats Fancy Pink;Pear Shape diamonds 6.62 carats Fancy Pink.
For a complete list of 2010 records, please visit 2010 Guinness Records in United States.