DUBAI (REUTERS) - That's one way to lose those walking blues: a pair of shoes encrusted with diamonds has gone on sale in Dubai with a price tag of US$17 million (S$23 million).

They are displayed in a diamond-shaped glass case on the top floor of the palatial Burj Al Arab hotel: a pair of golden pumps made of golden leather decorated with more than 100 carats of flawless diamonds set on white gold.

"We can see some potential buyers here, Dubai is the city of millionaires and billionaires," said Hemani Karamchandani, chief executive of Passion Jewellers which made the range of ultra-luxury shoes.

"In the future we will custom design and provide bespoke (shoes)... not only diamonds, but rubies and sapphires," he said.

The idea for the shoes came from Karamchandani's partner, 26-year-old British-Romanian Maria Majari, who studied fashion in Dubai and London.

She noticed a gap in the market, with ultra high-end clothes and bags but not shoes.

Diamonds might last forever, but what about the leather?

The price includes a lifetime warranty, which means that will be replaced if it wears out.