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A diamond-adorned scented candle could cost the buyer $5,000.

A luxurious candle-holder complete with its own diamond necklace could cost buyers in the region of $5,000 (£3,188).

Writing for Oneindia, Denise Baptise noted that the ornament, which comes with a sparkling bejewelled chain in the shape of a bow, is made up of 38 precious tones weighing 2.23 carats, as well as14-carat white gold.

The Ultimate Luxury Candle is fragranced and when lit, the flame bounces off the gems – it also comes in a presentation box decorated with a white satin bow and the necklace can be worn separately.

Ms Baptiste describes it as being "the finest and most expensive" decoration that can be bought for a birthday or anniversary.

This week, a tequila distillery in Mexico launched what it claims to be the most expensive liquor bottle in the world, a diamond-encrusted vessel estimated to cost in the region of $3.5 million.

Hacienda La Capilla already holds the Guinness world record for the most valuable drinks container after another of its creations sold for $225,000 in 1996. 

Indian diamond necklace is set to sparkle at Hong Kong auction.

A diamond necklace worth 18-crore rupees (£2.4 million) will be the star attraction at the first Indian collection set for auction in Hong Kong later this month.

According to New Delhi Television, the jewel, which has been valued using the Indian crore – equivalent to ten million rupees – will go under the hammer at Christie's on November 29th.

Boasting a 12.29-carat Golconda diamond as well as rare Argyle pink gemstones, the masterpiece weighs just 50 grams thanks to artful design.

The eye-catching precious stone and the smaller Argyles, mined in Australia, have been set in as little metal as possible to give the impression that the wearer is only sporting the gems.

Described by the publication as "one-of-its-kind", the item took 1,300 experts more than a year to craft.

British jeweller Laurence Graff recently took home the world's most expensive diamond, bought at auction for £29 million.

The investor, who successfully bid for the 24.78-carat 'fancy intense pink' gem, has named it the Graff Pink.

Indian diamond traders are gearing up to raise their prices next year as demand for the jewels increases.

Shoppers looking to buy a diamond ring may need to speed up their search, as prices of the precious stone is set to climb from March 2011.

According to the India Times, the country's diamond industry – which produces diamond rings and diamond pendants – is due to remain steady until spring next year, when demand is expected to push the trade of cut and polished gems higher.

Managing director of Forever Jewellery Jai Begani said: "Prices of polished diamonds have increased by almost 15 per cent in the last three months and it is not easy for us to buy at such high rates."

The 80,000-crore Indian industry (£11 billion) is responsible for cutting and polishing nine in 11 of the world's jewels and is currently making a loss of six or seven per cent.

Earlier this month, a rough diamond mined in Lesotho, southern Africa, was valued at almost £7 million.

The Hope Diamond is being exhibited in New York after being refitted with a chain of precious stones.

The Hope Diamond is being displayed in New York with its new adornment of a chain of gems.

Complete with a new setting entitled Embracing Hope, the precious stone is exhibited to the public at the city's National Museum of Natural History.

The jewel's new chain is made up of 340 individual baguette diamonds and was crafted as part of the anniversary of the donation of the Hope to the Smithsonian Institution by renowned jeweller Harry Winston, as well as the centenary of the museum.

Viewed by some seven million people annually, the rare blue stone will be showcased with its new setting for one years before being refitted into its original encasement.

A jewel sold by Harry Winston 60 years ago has recently changed hands at auction, with British investor Laurence Graff making a winning offer of £29 million for the rare 'fancy intense pink' diamond, establishing its title as the most expensive ever to have been bid on.