Back in February I mentioned that Graff Diamonds had cut the the 603-carat Lesotho Promise diamond into 26 smaller diamonds varying in size from .52 carats to 76.41 carats each with a D Flawless grade (a total of 223.25 carats). Graff is in the process of turning the story of the 18 months of cutting and polishing the stones into a book and documentary. Now they have turned these those stones into one spectacular necklace, The Lesotho Promise Necklace.

The Lesotho Promise, mined at the Letseng mine in Lesotho, is the 15th largest rough diamond ever recovered and was sold to Graff and its partner polishing company Safdico for $12.36 million in October last year. The necklace is part of the company's display of magnificent jewels in Monte-Carlo and is available for viewing until August 10 at the Salle Empire, Hotel De Paris in Monte-Carlo along with rare gems from Graff's collection including The Flame, a 100-carat pear-shaped D-flawless diamond.

The stones are valued at $50 million but a value hasn't been given for the finished piece. Laurence Graff has vowed not to split up the set of diamonds and so this necklace has a small set of potential buyers, people in the world with the wherewithal to afford it. Monte Carlo seems the perfect place to display it to the wealthy.

Lately celebrity moms have been spotted wearing necklaces engraved with the first letter of their new baby's name, a cute trend that's quickly increasing in popularity as more and more A-list ladies get pregnant. Among the first to do so was Nicole Richie, who is frequently seen sporting a gold "H" pendant (for daughter Harlow) . So who's behind the initial craze? Meet LA based jewelry designer to the stars Jennifer Meyer, she's the daughter of Ron Meyer (the President and CEO of Universal Studios) and she's married to Tobey McGuire. You can see her fabulous designs at the hippest jewelry boutiques around. Her famous 18K yellow gold and diamond initial pendants are now available online at twistonline.com, they cost $1,375.

What a lovely way to surprise guests. The Ritz-Carlton in Key Biscayne, Florida will place a diamond necklace under the pillow of one guest per month from January through May 2006. Diamonds.net reports that the gimmick is meant to celebrate the hotel's AAA Five Diamond rating. The $3,000 necklaces have five diamonds totaling one carat and one blue sapphire and come from the Sabbia Jewelry store which has a shop in the hotel. In May one guest will also find a pair of designer diamond and sapphire earrings by Mouawad.