The lipstick is a replica of the KissKiss lipstick released in 2005, designed by Olivier Echaudemaison and Herve Van Der Staeten.
KissKiss contains light reflectors, to create a 'dazzling effect', and a softening complex of vitamin A, alpha bisabol and waxes, to provide instant and long lasting moisture, acco.
Nothing spectacular so far perhaps, but the key to the notable price tag lies in the packaging.
The casing of Guerlain's latest super-luxury lipstick is made from 110g of 18 carat yellow gold, with 119 diamonds decorating its surface.
And so why did a lipstick merit such a lavish design?
According to the designer Herve Van Der Straeten: "Lipstick is simple, yet mysterious….
This element of surprise creates curiosity and longing, which is what I hope each woman experiences when she clutches KissKiss Gold and Diamonds in the heart of her hand.
It is powerful and unimaginable, unique and desired, obtainable and unobtainable at the same time."
Fellow designer Echaudemaison, more simply describes the lipstick as being designed for those who 'indulge in lavishness and appreciate exquisite design' .
The product joins a number of cosmetics and fragrance products that bring a new meaning to the word luxury.
L'Oeuvre Noir for example, translated as the black masterpiece, is a collection of perfumes with a quasi-Faustian ambience inspired by Baudelaire, according to the designer Kilian Hennessy.
The fragrances come in a refillable bottle with a price tag of $225, and refills cost $95.
Alternatively the consumer can buy a do-it-yourself refill kit for a mere $2500.
Similarly, much of the luxury appeal of L'Oeuvre Noir can be seen in the packaging.
The black bottles 'recline in a bed of black satin' in a locked black lacquered box, reminiscent of the 18 th century, according to Kilian.
"The black tassel [ on the key ] imparts mystery to the fragrance, mystery warding off all sorts of black magic" explains Hennessy.
All this opulence and extravagance leads us to the question of whether, in the world of luxury cosmetics we are paying, not so much for the name, but for the packaging?