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Gresso's Titanium Bumper is the latest extravagant luxury iPhone accessory

Luxury mobile phone company Gresso has launched the Titanium Bumper, a collection of protective cases for iPhone 5 with prices ranging from $1,000 to $10,000.

Made of solid grade 5 titanium, the handcrafted case is resistant to bending and compression. Each piece is manually polished for four hours to receive the desired metal texture.

Consisting of upper and lower protective frames connected by hinges, the case features a patented magnetic locking system which closes and opens up with a single move.

The back panel can be covered in either Italian leather or crocodile leather, with the addition of an 18-carat gold Gresso logo. Each case is available in original titanium or black color schemes.

The Gresso Titanium Bumper is the latest addition to the market, aiming to feed a growing appetite for incredibly extravagant phone accessories or customizations.

Earlier this year, luxury boutique Alchemist launched its ‘$1million iPhone', a limited edition customized iPhone 5 and iPhone 5S featuring 700 crystals set in a 24-carat gold handmade casing.

In February, Hadoro, a French firm specializing in high-end phones, released a limited-edition case made using 125g of solid 18-carat gold. The case was produced using 3D printing technology and hand finished.

London-based company Goldgenie also offers a range of 24ct gold, rose gold and platinum-plated iPhones that start at around £837 (about $1,380), with clients including celebrities such as David Beckham, Elton John and Simon Cowell.

However, the most extravagant spin on the luxury trend has to be the Black Diamond, a customized iPhone 5 commissioned by an anonymous Chinese businessman and fabricated by luxury British designer Stuart Hughes. Boasting 600 white diamonds and a 24-carat black diamond for the home key, the model sold for £10 million (approximately $15 million) back in 2013.