T-mobile G1 users can flaunt their wealth by downloading the 'I am Richer' app, from the Android app store for a cool $200 (£137).

Unfortunately the app does nothing more than display a blue diamond on the screen, which the apps developers claim "proves your wealth to others".

T-Mobile G1 review

Google Android review

The T-mobile G1 is the first handset to run using Google's Android platform. However, HTC, which manufacturers the G1, announced at this month's Mobile World Congress, it will be making a second handset running on the platform, the HTC Magic, available later this year.

A similar app, called 'I am Rich', briefly showed up in the iPhone App Store, where several people reportedly bought it for $1,000 (£688). But the application quickly disappeared from the store, likely pulled by Apple.

While Apple vets and monitors the applications in its store, Google has essentially left the door open. Anyone who registers for the Android developer program can upload an application to the store. That could mean that a wider variety of apps will appear in Google's store but it also makes it possible for fraudulent programs to make it in.

Apple iPhone 3G review

Apple iTunes app store review

So far, the 'I am Richer' app appears to be the most expensive in the Android store. Jay Freeman, a developer who has started a website cataloguing all the applications in the Android store, has compiled a list of apps by price. He reports a few around $25 (£17), 15 at $10 (£6.88) and far more at the low end: 136 apps cost $1 (69p) and 42 are being sold for $2 (£1.37), he said.

But some developers are complaining that, possibly because the Android market started out with exclusively free apps, they are having trouble selling applications.

Visit Mobile Advisor for the latest mobile phone news, reviews, tips & tricks, as well as PC Advisor's unique Apple iPhone 3G Spotlight

Visit Broadband Advisor for the latest internet news, reviews, tips & tricks - and to take advantage of PC Advisor's unique, independent Broadband Speed Tester

"Over the weekend I've had a few downloads for my $0.99 (68p) app, but I guess I was expecting more," said a user known as 'stonedonkey' in the Android forum. "I'm curious if people just aren't willing to pay, if they are having issues, or there just aren't really that many phones in use?"

The transition to paid applications appears troublesome for other developer as well. Some expected that they'd be able to simply switch the price of the app from free to paid, rather than have to upload a new copy of the application. That would allow the developers to retain the ranking of the application in the store.

Google is one of a few companies that have launched or are preparing to launch application stores for mobile phones, hoping to mirror the success that Apple found with its App Store. Apple so far has about 15,000 applications in the store and boasts over 300 million downloads from the store. Microsoft, Nokia, and BlackBerry are all also developing stores.

See also: Google lets developers charge for Android apps