The most money I ever considered spending on an iPhone case was for the Taktik. It provides an insane amount of protection and adds a great rugged style to your iPhone. Now, there's this interesting looking, exceedingly expensive iPhone case by Will.i.am of the Black Eyed Peas. Part of the i.am+ foto.sosho line for the iPhone 4 and 4S and eventually, the iPhone 5.
As you can tell from the picture, the case adds a lot of bulkiness to the camera which could be the intention. The Verge pointed out that the design is suppose to vaguely represent a full fledged camera. Vaguely being the keyword here. There will be three models to the phone: a standard model that will that will cost £199 and comes with a fish-eye lens, standard lens, and a wide-angle lens. The £299 model adds a slide-out, bluetooth QWERTY keyboard and comes in white and gold (shown above) or black and silver models. Both models will be available exclusively from Selfridges in London starting December 6th.
The iPhone 5 iteration will have more options according to a report from Engadget. The foto.sosho V.5 and L.5 will circumvent the iPhone 5's camera system and instead use a 14-megapixel sensor and built-in zoom lens to provide superior image quality. You can expect the price of that version to be...considerably more expensive. At that point, you might as well just get a real camera. Check out the case in this Engadget video below.