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Justin Bieber wore a diamond encrusted necklace designed by jeweler Jacob & Co. to Saturday’s all-day KIIS-FM concert at the Home Depot Center in Carson, Calif. — and Celebuzz can reveal it’s worth a whopping $34,500.

It’s the second time in a week the “Baby” pop star has stepped out with bling so expensive that he probably needs an armed bodyguard.

When the Biebs escorted boxer Floyd Mayweather, Jr. into the ring for his junior middleweight title victory against Miguel Cotto in Las Vegas on May 5, he was rocking a $20,000 piece of neck attire.

It’s unclear if both necklaces were gifts or if Bieber paid for them himself.