The most expensive jeans ever?

Would you spend £1,000 on Balmain's new jeans?

Although the fashion industry is used to paying a pretty penny for designer denim, Parisian fashion house Balmain has considerably upped the ante for its latest statement jeans - charging a whopping £1,059.

Available in the UK at Joseph, the stonewashed style, designed by Christophe Decarnin, form part of the label's spring/summer '09 collection.

And according to the Fulham Road store, the colossally priced jeans are flying off the rails.

Speaking to the Telegraph, Imogen Crosby of Joseph commented, 'It's very exciting... I suppose there may be an absurdity over a pair of jeans costing £1,000, but our price is governed by the designer's price. Anyway, we've only got two pairs left.'

Justifying his mammouth price point, Decarnin claims that it was necessary to reflect the quality and materials. Note, that the materials are limited to cotton, and that the jeans are adorned merely with rips and holes, not diamonds.

Clearly the credit crunch has by-passed Balmain.