A new pair of platinum bejewelled shoes have gone on display in the US, reported to be the world's most expensive ever.

The 'Cinderella Slippers', as they are known, have been fashioned by world famous designer Stuart Weitzman and wowed audiences at the 2004 Oscars.

The stiletto sandal, which is now on display in Beverly Hills, is set atop a four and a half inch invisible heel, covered with more than 500 dazzling diamonds set in pure platinum.

"Every woman dreams of being Cinderella, and Cinderella's fantasy shoe has finally become a reality," commented Mr Weitzman.

Although Mr Weitzman describes the shoes as priceless, both because of their design and their Oscar association, they are valued at around $2 million.

Singer Alison Krauss wore the shoes at the Academy Awards, where she was nominated for best song for the film Cold Mountain.

The Oscars themselves featured a range of celebrities donning platinum accessories and outfits, with jewellers targeting the show as a crucial showcase to display their talents.