A limited edition Koenigsegg CCXR Trevita diamond-weave carbon fiber supercar (above), the first of only three being built for collectors worldwide, is for sale in South Africa with a whopping pricetag of $5 million, making it the world's most expensive supercar - easily beating out the Bugatti Pur Sang. The Swedish supercar is a special version of the marque's already exotic carbon fiber CCXR model, which goes for about $2 million. Both cars feature a 5.0 liter twin supercharged V8 engine producing 1,018 hp, and can do 0-62 mph in 2.9 seconds with a top speed of over 250 mph. The Trevita's unique diamond weave finish means that when exposed to sunlight it "sparkles like millions of silvery white diamonds infused inside the visible carbon fiber weave bodywork."

Candles always set a mood, and soy candles are an earth-friendly luxury. Add to this mix a Diamond Bow Necklace encrusted with 38 diamonds, 2.23 carat total weight, G color, VS clarity, and set in 14-carat white gold, and you have The Ultimate Luxury Candle, a limited-edition candle from Welcome Home Candles. Modeled on Welcome Home's Champagne Noir Soy Candle fragrance, this candle and necklace set was designed exclusively for Welcome Home Candles by Bucci's Jewelry & Design, one of the Philadelphia area's top jewelry designers. Order online, free shipping. $4,995

A new diamond cut has been recently debuted and it's got an interesting story. The Antwerp Twins cut comes from 3D diamonds and was created while 3D Diamonds chief executive Eva Van Looverren was pregnant with twins. The diamond has two faceted domes, one on the crown meaning that the table, the flat part on the top of a brilliant cut diamond, is gone with either no table at all or only a tiny "culet"-style facet in the center of the crown. The pavilion, the lower part of the diamond, also is faceted in a dome shape. The new cut is designed it show a balanced contrast pattern giving the stone a brighter and more sparkly look.

Recession or no, certain truly unique and exclusive handcrafted luxury items remain in very high demand. The Fall issue of WSJ., The Wall Street Journal's glossy magazine, reports that there's currently a five-year waiting list for the custom $175,000 shotguns made by Italian master Tullio Fabbri. Fabbri marries high-tech fabrication - the guns' locking mechanisms are coated in diamond dust to increase durability - with classic Brescian engraving on the metalwork that looks like embroidered lace. He has made guns for celebs like Steven Spielberg, Eric Clapton and King Juan Carlos of Spain, as well as Mexican-born pop singer Thalia, pictured above with her Fabbri 20-gauge. Fabbri's father began the business in 1965 in a small shop in the Valle Trompia, a legendary valley in northern Italy that has been home to gunmakers since the 16th century. Fabbri only makes 30 guns per year, hence the waiting list. Italian artisans spend 400 - 600 hours etching the metalwork on each gun, which can add $50,000 or more to the price. Thalia's husband, music mogul Tommy Mottola, tells the magazine that "Tullio's work is as good as a Picasso."

This bubblegum pink stone up for sale in Christie's Hong Kong in December isn't just a fancy vivid pink diamond, it is known as 'The Vivid Pink' an expression of its exceptional color. The stone, which has been set in a ring by Graff, comes from a private collection. It is estimated to sell for $5 million to $7 million at the auction on December 1. The stone weighs a neat 5.00 carats and Christie's says it is the largest Fancy Vivid Pink Potentially Flawless diamond to ever be offered for sale at auction. 'The Vivid Pink' is particularly prized because it shows no trace of any secondary color for a truly deep saturated pink shade rarely seen in diamonds. Only one in one hundred thousand diamonds has a color deep enough to qualify as 'Fancy.' In advance of the sale the diamond will be going on a display tour in New York, Singapore, Bangkok, Geneva and Taipei starting in October.

[via National Jeweler]

Christie's and Sotheby's art sales use the Warhols, Van Goghs and Monets to attract attention. For the jewelry sales it's all about the diamonds. The Christie's Jewels: The New York Sale to be held on October 21 will feature the Annenberg Diamond, a square 32.01-carat, emerald-cut diamond graded D color, flawless, the rarest of the rare. The Annenberg diamond is flanked by two pear-shaped diamonds, of 1.5 carats and 1.61 carats, respectively mounted in a ring by David Webb. It is part of the Leonore Annenberg collection. The ring has an estimated value between $3 million to $5 million. Rings like this get their own world tour and Christie's plans to showcase the diamond in Geneva, London, Hong Kong and Los Angeles before winding up back at Christie's Rockefeller Galleries as part of a viewing of the entire sale from October 16 to 20.

There are diamond watches, and then there are diamond watches like this. Graff metaphorically knocks on the door of luxury with a resounding "bling bling!" arrival announcement. You simply don't get too much more "diamond watch" than this timepiece figuratively held hostage by the precious stones. The case and bracelet (what little of it is actually metal!) is done in 18k white gold while a dizzying collection of 176 diamonds on the case and another 94 diamonds on the bracelet that crowd the design of the watch like a bunch of too many densely packed wealthy neighbors. The entire watch has 59 carats of pure glitzy glory.

Likewise the timepiece is known as the Superstar, or GraffSuperstar. Whatever the title, this watch is is certainly a statement about the woman wearing it. However that statement might be "I enjoy rubies and emeralds in my breakfast cereal." Sorry gentlemen, we will have to settle for a less diamond studded version. Stones on the Superstar watch are in trilliant and trapeze cuts that gives a very modern and angular shape that is also quite cohesive. Round cut stones make for good decor, but these more angular cuts allow for a more tiled look that enhances the "total diamond watch" style that Graff is going for. My instincts tell me that the movement inside the watch is Swiss quartz. The dial of the watch is no testament to legibility, but should be readable - a nice trapeze cut emerald is the only non-diamond stone of the bunch and serves as the 12 o'clock marker. Not the type of watch you want to wear publicly in certain parts of the world, cost to likely be tantamount to purchase of said parts of the world.

Ariel Adams publishes the luxury watch review site aBlogtoRead.com.

The other day I mentioned a company working on virtual shopping technology that lets you try on watches via computer. But how about engagement ring shopping by iPhone? Stuller has partnered with Gemvision Corp. on an app that lets you try on a ring no matter where you are using the iPhone camera. The app is called "Live Diamond Try-On (brought to you by Red Box Diamonds)" and will be available for free this summer from the App store. Users can select a diamond engagement ring, choosing metal, carat size, style and more then try it out for size on their own hand. To get the full effect you can put the iPhone on your hand and tilt it to get a sense of the ring's sparkle as it shifts. The image can be saved and e-mailed and posted on Facebook or Twitter. The user can then get the real thing using the app's "find a jeweler" function. Will this lead to virtual proposals with no real ring required?

Some of you will no doubt recognize Corum's new Golden Bridge Lady Diamond Watch as a derivative of an existing style they have, to others this unique watch will be all new. Years ago Corum was able to develop a mechanical movement that was shaped like a bar (more or less linear as opposed to square or circular). They placed it in a horizontal fashion in watches. It was incredible to look at as they cased in an traditionally sized squarish case with the movement placed in the middle being showcased through the sapphire crystals. This concept has been adopted here and is now placed horizontally instead of vertically with the new Corum Gold Bridge Lady Diamond watch. The new position of the movement is more flattering to the wrist in the rectangular 41mm x 34mm sized case that comes in either red gold or white gold.

Aside from the 180 diamonds on the case and face, and the unique placement of the dial, the real show here is in the mechanical C0113 movement and in watching its ongoing operations. Despite its tiny size, it still has 40 hours of power reserve. While you can't truly appreciate the movement in still images, just try to imagine it with all the gears turning as the movement operates. The movement is suspended in the case between two sapphire crystals meaning you can see straight through to the other side of the case - quite cool. In addition to white or red gold, the watch comes with a black or white (pictured) alligator strap. Only 175 of these limited edition watches will ever be made, with just a few pieces produced each year. It is an incredible piece of micro mechanics for the woman who can appreciate the beauty of mechanical watches.

Ariel Adams publishes the watch review site aBlogtoRead.com.

Economic conditions aren't so dismal that records can't be set. Sotheby's just moved a flawless, rare blue diamond for nearly $9.5 million – proving that taste can prevail even when wallets are generally gripped shut.

The rectangular blue diamond weighs 7.03 carats and sold at the highest price per carat ever fetched at auction – a whopping $1,349,752 (including the commission to Sotheby's). It's also the most paid for a "fancy vivid blue diamond" ... I didn't realize that such records were tracked. The winner chose to remain anonymous (can you blame him or her?) who was bidding by phone. The auctioned ended with a veritable telephonic battle that lasted 15 minutes.

The record until the blue diamond went under the gavel was $7.9 million for 6.04 carats. It was set in October 2007 in Hong Kong. Sotheby's sold the last record-breaker, as well.

In all, the auction house moved $35.7 million in gems and jewelry from 266 lots – not counting another 80 that didn't sell.

David Bennett, the chairman of Sotheby's jewelry department covering Europe and the Middle East, remarked, "It is fantastic in this market and shows that these rare things are very much in demand."

No, David. What's fantastic is that such items are in demand and that people are still willing to pay for them!

Diamond wedding cakes have made the rounds but doesn't the humble cupcake deserve a shot at diamond dazzle? Mervis Diamond Importers says they are the first to create a diamond cupcake. The cupcake is topped with eight ideal cut round brilliant diamonds around its circumference, and a two carat Asscher cut diamond in the center for a total value of $30,000. The cupcakes (there are two like this) will be on display at Mervis Diamond Importers, for their "Cupcakes and Wedding Rings" trunk show on May 1 and 2. You can see more photos of the cupcake at the Mervis website.

Why did Jonathan Mervis decide to do this? He's heard that question a few times and says that he sees it from a couple of different angles: "Firstly, I'm having fun. But secondly, I'm in the business of helping make engagements and weddings as stunning and memorable as possible. On the big wedding day when money is no object, I think a diamond-topped cupcake could be the ultimate in luxury. I've already had a few phone calls inquiring about more "affordable" diamond cupcakes, and I could foresee a situation where diamond cupcakes become the 'it' thing for brides."

He has applied to the Guinness Book of Records to see if he can get listed as the world's first diamond cupcake. But beyond the obvious publicity spin, Mervis also has an interesting point about the connection between sweets and luxury treats and the salutary benefits of indulgence. He asks if, in a time like this "when so many Americans are in the poor house, can it be healthy to dream for a moment and let our minds play with images of decadent diamond cupcakes?"

Rap mogul Damon Dash's luxury timepiece and jewelry brand Tiret New York has turned its hand to automotive design with its latest creation, the Tiret Sport Coupe. Just unveiled at watch expo Baselworld in Switzerland, the luxurious 2-door SUV is based on the Range Rover Sport and features real diamond accents derived from Tiret's opulent oversized, bejeweled timepieces by designer Daniel Lazar.

Available by special order at an undisclosed but undoubtedly astronomical price, the car is available with custom watch dial displays derived from Tiret's diamond timepieces, as well as an elegant central clock. A wide variety of color combinations including two-tone schemes is available inside and out in addition to Nappa leather seating and fine wood trim. Exterior modifications include wider flared arches, LED lighting, 22-inch LSE alloy wheels and a full panoramic glass sunroof.

[via JustLuxe]

Malaysian designer Faisol Abdullah is creating the world's most expensive dress decorated with 751 diamonds from Middle Eastern jeweler Mouawad. The $30 million frock tops Chris Aire's $20 million diamond dress (above) created last year and ties the $30 million diamond bikini in terms of the world's most expensive item of clothing. Abdullah plans to debut the silk and taffeta evening gown, which features a central 70 carat pear-shaped diamond and is dubbed the "Nightingale of Kuala Lumpur," in time for next month's STYLO Fashion festival in the Malaysian capital. Mouawad, which produces Heidi Klum's jewelry line, is a red carpet favorite of Nicole Kidman, Angelina Jolie, Jennifer Lopez and Britney Spears.

"Stocks drop, gold is even falling but a diamond is forever," Abdullah tells Reuters. "This is a dress with diamonds. Why go backwards, why can't we go forwards? We are going to the fantastic, but its real. You are getting value for money with these diamonds." "It's a security and insurance nightmare buts it's worth it," adds Antoine Bakhache, head of Mouawad's Asia operations. "It's not throwing $30 million right down the drain, it is an investment for the super-rich." Nancy Yeoh, chief executive of STYLO which commissioned the dress, says they plan to present the garment to royal courts around the world starting with the Middle East, noting, "It's art and there are still enough rich people who would want to buy."

The last batch of Harry Winston watches I saw were complex technical marvels with highly unique designs suitable enough for magazine covers. Now the shock-watch luxury brand brings a more elegant lady's watch to the table with the "Talk To Me, Harry Winston" watch. It isn't obvious when you view the watch, but it has a little gimmick to it. Consider the fictional "king of diamonds" who for pleasure rolls loose diamonds in his hands and between his fingers. This concept is metaphorically transcended into the Talk To Me, Harry Winston watch via a roller on the side of the watch (that bears the title of the watch). This roller can be spun to reveal the entire title of the watch, as well as the 24 diamonds on the ring as is spins around the watch case - something to do with your hands when idle. According to the name of the timepiece, you may even speak to it, but don't expect it to talk back.

With an 18k white gold case bearing 290 applied diamonds, the glitzy sun-burst pattern makes for a striking, but simple woman's timepiece. There is also an even more 'diamondier" version of the watch with a full 340 diamonds on the case. Inside the watch is a Swiss quartz movement and the strap is satin. Look for a release at Baselworld soon.

Ariel Adams publishes the watch review site aBlogtoRead.com.

More than $30,000 in diamond jewelry will be given away during the InStyle Weddings Diamond Giveaways Sweepstakes. You can win a diamond jewelry set comprising a pair of 1/3 carat diamond solitaire earrings and a 3/8 carat princess cut diamond solitaire pendant in 14K white gold. There will be two prizes weekly (16 winners total), valued at almost $4,000. You can enter daily until 11:59 p.m. (ET) on April 30, 2009.