Dress designed by SA couture brand Paolo Sebastian embellished with $1m in diamonds Model MJ Johanssen wears the Paolo Sebastian million dollar dress designed by Paul Vasileff, encrusted with $1m worth of diamonds. The dress is embellished with 1000 white, yellow and cognac Australian diamonds. IF you ever wanted to look like a million bucks, now you can - literally - thanks to Australia's most lavish gown. Adelaide couture brand Paolo Sebastian has teamed up with Shiels Jewellers to create a gown embellished with $1 million worth of diamonds. The Million Dollar Diamond Dress features 1000 white, yellow and cognac Australian diamonds, weighing more than 300 carats. Designer Paul Vasileff said the gown, which he has been working on for six months, took four jewellers two weeks just to set the stones. "The design was dictated by how we could put the stones in," he said. The gown has 12m of lace at $1000 a metre, 70m of French tulle and 20m of silk organza. The fabric is worth $15,000. "I felt like a princess being covered in diamonds," model MJ said of wearing the gown. Vasileff hopes someone with deep pockets will buy the dress, but if not, the diamonds will be removed and used in another Shiels collection. The Million Dollar Diamond Dress is part of the Paolo Sebastian Autumn/Winter 2014 collection, which also features Paolo Sebastian Couture Jewellery by Shiels, with each piece created to be worn with a dress in the collection. A ready-to-wear jewellery range inspired by the couture jewels will be available from Shiels in March.