It was no coincidence that most of the world’s most expensive luxury products hit the market within the last 10 years. It was a time of unprecedented growth and wealth building.

But over the last few months, the global economy meltdown has hit everyone like a gory car accident.

Even the Donald Trumps of the world are losing their shirts… and perhaps they’ll be looking to unload their shoes too, if they own any of these symbols of conspicuous consumption.

Coming soon to a pawn shop near you:

Top 10 World’s Most Expensive Shoes

#9: Diamond-Encrusted Custom Nikes

Price tag: $50,000

Specs: 11 carats of chocolate-colored diamonds outline the “swooshes” on a pair of Nike “So Cal” Air Force 1 “Supreme Max” runners

#9’s Claim to Shoe Fame: One of the only two menswear sneakers represented in the top 10. They were purchased by Outkast’s Antwan “Big Boi” Patton.

The Nike limited editions were customized with the fancy colored diamonds by Laced Up owner Ernel Dawkins and C Couture boutique owner Rita Patel.

#8: Slippers Worn by Indian Prince

Price tag: $160,000

Specs: Rare slippers encrusted with rubies and diamonds were once worn by the Indian prince Nizam Sikandar Jah of Hyderabad in the 18th century.

#8’s Claim to Shoe Fame: In January 2006, the jeweled slippers were stolen from the Bata Shoe Museum in Toronto, Canada.

A few days later they were recovered thanks to an anonymous tipster. Experts examined the shoes and believe no damage had been done “though there is evidence the shoes have been worn”. A 35 year old man was arrested in connection to the robbery.

#7: Stuart Weitzman’s “Diamond Dream” Stilettos

Price tag: $500,000

Specs: Shoe designer Stuart Weitzman and jeweler Kwiat partnered to create these stilettos adorned with 1,420 brilliant-cut Kwiat colorless diamonds weighing over 30 carats and set in platinum.

#7’s Claim to Shoe Fame: Anika Noni Rose, aka “the other one” in Dreamgirls, got her chance to shine at the Oscars in 2007 when she wore Stuart Weitzman’s “Diamond Dream” strappy sandals on the red carpet.

#6: Ruby Slippers from “The Wizard of Oz”

Price tag: $666,000

Specs: White silk pumps from the Innes Shoe Co. were customized by the Wizard of Oz costume department.

The bows have three large red glass jewels, bugle beads and glass rhinestones in silver settings.

#6’s Claim to Shoe Fame: While it is believed there were seven pairs created for 1939 movie classic “The Wizard of Oz”, the whereabouts of only four pairs are known.

One pair is in the Smithsonian; another was stolen in 2005 from the Judy Garland Museum and has yet to be recovered.

The last pair to come up for sale was in 2000, when it was sold at auction by Christie’s for $666,000.

#5: Stuart Weitzman “Retro Rose” Pumps

Price tag: $1,000,000

Specs: Two diamond roses, fixed to 1940s-style dusty gold high heels.

More than 1,800 Kwiat diamonds weighing 100 carats were used to make the roses.

#5’s Claim to Shoe Fame: Every year, fashion footwear king Stuart Weitzman picks a new and rising star, a “Hollywood Cinderella”, to wear his latest multi-million dollar shoes to the Oscars.

In 2008, he selected screenwriter Diablo Cody to wear the $1M heels known as the “Retro Rose” down the Academy Awards red carpet.

Ms. Cody initially agreed to wear them but later backed out after critics questioned her “Indie”, anti-Hollywood cred for participating in a glamorous publicity stunt. She opted to wear an unnamed brand instead.

#4 Stuart Weitzman “Platinum Guild” Stilettos Price tag: $1,090,000 Specs: 464 Kwiat pear and round-shaped diamonds set in pure platinum thread top off these strappy stilettos. #4’s Claim to Shoe Fame: Actress Laura Harring was the first Stuart Weitzman “Cinderella”. She was chosen by the shoe designer to wear the “Platinum Guild” diamond encrusted sandals to the 2002 Academy Awards. Accompanied by three bodyguards, the shoes paled in comparison with the $27 million dollar necklace she also wore to the awards show.

#3 Stuart Weitzman “Ruby Slippers”

Price tag: $1,600,000

Jeweler Oscar Heyman & Bros contributed 642 round and oval rubies totalling some 120 carats, set in pure woven platinum on the 4 1/2 red satin stilettos.

#3’s Claim to Shoe Fame: In 2003 Stuart Weitzman created the “Ruby Slippers” in anticipation of another breakthrough starlet wearing them to that year’s Academy Awards. His inspiration was the original ruby slippers worn by Judy Garland as Dorothy, otherwise known as #6 in our list.

However Mr. Weitzman ended up cancelling his shoe’s appearance. His spokesperson Jane Weitzman stated…”we pulled the ruby shoes we were planning to show off at the Oscars out of respect for those fighting in Iraq.”

Tied for #2: Stuart Weitzman Tanzanite Heels

Price tag: $2,000,000

Specs: Stuart Weitzman teamed with jeweler Le Vian to painstaking match and cut 185 carats of museum-quality tanzanite and 28 carats of diamonds.

#2’s Tanzanite Claim to Shoe Fame: These eye-popping, $2M kicks were unveiled June 2008 in Las Vegas. No one has been photographed wearing them yet; it’s speculated that Mr. Weitzman created them for the Academy Awards in 2009.

Tied for #2: Stuart Weitzman’s “Cinderella Slippers”

Price tag: $2,000,000

Specs: 4 1/2 inch stiletto heels are set with 595 carats of platinum-set Kwiat diamonds. One shoe is set with a 5-carat amaretto diamond, alone worth $1M.

#2’s Cinderella Claim to Shoe Fame: The “Cinderella Slippers” were worn by singer Alison Krauss (nominated for best song for the film Cold Mountain) at the 2004 Oscars while walking the red carpet and performing onstage.

Mr. Weitzman’s daughters were fans of Alison Krauss, and had asked their father to approach the bluegrass diva about wearing the $2M sparklers.

Prior to the Oscars, Ms. Krauss said “I just want the folks back home to be proud. To say, ‘She sang in tune and didn’t forget the words. And she didn’t fall off them shoes.”

#1: Stuart Weitzman’s Rita Hayworth Heels

Price tag: $3,000,000

Specs: Stuart Weitzman designed the satin open toe stilettos around a pair of earrings owned by movie legend Rita Hayworth.

The earrings are laden with rubies, sapphires and diamonds.

#1’s Claim to Shoe Fame: For the 2006 Academy Awards, musician and Oscar-nominee Kathleen “Bird” York was tapped to wear Stuart Weitzman’s latest over-the-top creations.

The shoes “centerpieces” were diamond and precious gemstone earrings from the estate of late 40’s movie siren Rita Hayworth, and now belong to Hayworth’s daughter, Princess Yasmin Aga Khan.