British artist Damien Hirst is in the midst of creating an expensive work of art -- a skull cast in platinum and encased in some 8,500 diamonds.

The most expensive part of the project is the 50-carat diamond that will sit on the forehead, Hirst told the press.

The 50-carat diamond alone will cost between $5.6 million and $9.4 million, and the entire project will cost between $15 million and $18.8 million the artist estimates.

Read more about Damien Hirst's work of art at diamonds.net.