Considered the most valuable concept car of the late 1950s, the revolutionary Diablo concept car will be the star attraction of RM Auctions’ multi-million dollar Sports & Classics of Monterey event, to be held August 15th and 16th in downtown Monterey, California.

Conceived by Chrysler’s design head, Virgil Exner, arguably America’s most influential stylist, this rare example was built by Italian coachbuilder Ghia for the Chrysler Corp. on a 1955 Chrysler 300 series chassis.

A featured concept car for the 1957 US auto show circuit, the car is one of the largest and most impressive concept cars ever built, stretching an impressive 22 feet in length.

Francois Curiel, Chairman of Christie’s for Europe holds a gem-set Bowenite Magot by Faberge, also know a the “Onassis Buddha” during a preview at Christie’s auction house in Geneva May 9, 2008.

The finely carved figure, with articulated hands, head and ruby tongue, was bought by Aristotle Onassis in the early 1960′s and kept on the “Christina” yacht.

It may fetch $ 500,000-$700,000 during an auction sale in London on 11 June. Via Daylife

Update – Price realized: £1,273,250 ($2,487,929)

Featured above is a 206.82 carat sapphire pendant encrusted with diamonds to be auctioned at Sotheby’s auction house in Geneva, London.

Designed by jeweller Cartier in 1951, the pendant formely was a part of collection of Britain’s Wallis, Duchess of Windsor.

It is anticipated to fetch $1.1-1.5 million (Euros 6,97,000-9,50,000) on 15 May.

A Ron Arad sofa may fetch up to 80,000 pounds ($159,000) at a London sale this week that aims to tap demand for “design art.”

The steel work looks amazing — just don’t sit in it. “If you’re sitting on a polished metal sofa with rivets on your jeans you have to be careful,” said Ben Williams, a design specialist at Phillips de Pury .

“Sitting on these pieces tends to be reserved for special occasions. They’re usually just looked at as a sculptural element in the room.” [...]

A model poses with a tiara bearing a 101.27-carat shield-shaped diamond during a preview by the Christie’s auction house in Hong Kong on April 22, 2008.

The tiara has an estimated value of 6-7.5 million USD) and will be auctioned at the company’s spring sale of jewels on May 28. Via AFP / USAtoday.

One Beijing-based billionaire has splashed out a record $500,000 on 27 bottles of red wine, London-based Antique Wine Company said on Saturday.

The anonymous Chinese entrepreneur bought a mix of vintages of Romanee Conti, a Burgundy wine and considered to be among the world’s most exclusive with only 450 cases produced each year.[...]

“It is the highest price that has ever been achieved for a single lot,” Managing Director Stephen Williams of the London- based Antique Wine Company told Reuters on Saturday.

“I don’t think he has bought this as an investment — he has bought it to drink,” he added. “The fine wine industry is completely immune from the global credit crunch.”