It has "special" paper. That is the only explanation available for why Apple's latest product – announced in a press release today – is a book (yes, just a book), which costs $300.

The new photo book, Designed by Apple in California, chronicles 20 years of Apple's designs via 450 photographs of its products. Alongside the photographs is information about Apple's materials and techniques, with the whole thing dedicated to the memory of Steve Jobs.

The book took eight years to "develop", and is "printed on specially milled, custom-dyed paper with gilded matte silver edges, using eight color separations and low-ghost ink", according to the company's announcement. The "large" size of the book (13" x 16.35") is available from $299 (just under £250) from tomorrow, while a "small" offering (10.20" x 12.75") will be available for $199.

Incidentally, it is a book. Did we mention that? A book. Carry on.

“The idea of genuinely trying to make something great for humanity was Steve’s motivation from the beginning, and it remains both our ideal and our goal as Apple looks to the future,” said Jony Ive, Apple’s chief design officer, apparently without irony. “This archive is intended to be a gentle gathering of many of the products the team has designed over the years. We hope it brings some understanding to how and why they exist, while serving as a resource for students of all design disciplines.”

Ah yes, students. Those pesky little youngsters who famously have hundreds of dollars to spare.

If you are interested in purchasing the book, visit Apple.com – and then get in touch to tell us, why? WHY?