Report: Top 5 Smartphone Splurges of 2012

Sure, more and more shoppers are using their smartphones to purchase goods, but who knew someone would use a phone to buy a $48,000 bulldozer?

CNNMoney got their hands on PayPal's top mobile purchases of 2012 and it's a bit of a head-scratcher.

Here are the top five smartphone splurges of the year:

A Caterpillar bulldozer for $48,000.

A white gold necklace with 125 diamonds for $46,500.

A vintage penny collection, including one from the year 1918, for $46,000.

A men's diamond chain necklace for $40,000.

An original Nechita Alexandra painting for $40,000.

Coupled with this year's Black Friday and Cyber Monday reports—in which mobile shopping saw a significant increase—mobile commerce seems to have found its stride.

And according to another CNNMoney report, online Black Friday sales in 2012 actually outpaced in-store sales, with online traffic spiking by 21% and foot traffic dipping by 2%.