Billy Porter's diamond Emmys necklace costs a whopping $1.35 million

Billy Porter's diamond Emmys necklace cost a whopping US$1 million (S$1.35 million).

The Pose star - who lost out to The Crown's Josh O'Connor for the Outstanding Lead Actor in a Drama Series prize at the weekend - walked the red carpet in an all-black outfit featuring long sleeves, gloves, trousers and dramatic ruffled wings on his arms, topped off with dazzling Lorraine Schwartz diamonds.

And the jeweller has since revealed to Page Six Style that the lavish piece - which boasts 49.93 carats of white diamonds and 34.78 carats of emeralds, set in 18-karat white gold - has an epic price tag.

The Cinderella star also rocked six rings by H.Crowne, one of which dropped off his finger on the red carpet, but was quickly rescued by the actor, plus two diamond bracelets and sparkling ear cuffs.

Billy revealed he originally planned for the outfit to look very different.

He said: "Interestingly enough, this was supposed to go all the way to the floor, this little piece, and it didn't. I started just playing with shapes and stuff in the mirror and it was like, 'Well, they feels like wings.'"

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But Billy felt the outfit was appropriate for his role in the movie musical Cinderella.

He quipped: "You know I am the fairy godmother!"

The 51-year-old star - who has gone viral with his bold ensembles at the Oscars, Met Gala, and Tonys - previously admitted he wants to send a "clear" message with his red carpet wear.

He said: "You know, I am now working with Ty Hunter who is my new stylist, and we really, through quarantine, have been able to just get a handle on and get in the driver's seat of the train that took off.

"It just took off so quick that like, you know, I just wanted to make sure that what I'm saying as I walk onto these red carpets, into the events - as a walking piece of political art, that's what I'm trying to be every time - that we're clear."