Kate and William's Rainbow Connection

Kermit, eat your heart out. Britain's Daily Mirror reports that Kate Middleton and Prince William are going to be GIVEN the world's most expensive diamond stash, The Rainbow Collection, by some uber rich Saudis who want to buy the $120 million treasure chest from gem collector, Eddy Elzas.

It's good to be the king (in waiting).

These special 'crown jewels' are made up of 301 of the world's largest and finest fancy colored diamonds.  Few have seen the fabled collection (which is why I'm having a hard time tracking down pictures), and a member of the Saudi Arabian royal family even tried to buy them as a wedding gift for Prince Charles and Princess Diana in 1981, but the offer was turned down by Mr Elzas.

“Lots of Middle Eastern investors are keen to buy the collection and give them to William and Kate because it would be a huge badge of honor,” a source said.

“A deal is now very close to being done and an announcement is set to be made soon. Mr Elzas is due to retire soon so is looking to sell. But he will only sell if they go to William and Kate. He thinks it would be a fitting gift for the couple.”

What will the tony twosome do with the donated loot? Hard to tell - but I would give my pinky finger to see a new rainbow crown or tiara designed in Kate's honor. Can you imagine?

In the meantime, click here for more crown jewel craziness - and here to see another colored diamond display that took my breath away.

Wear Jewelry Designed by Kate Middleton

Official engagement photos of Prince William and Kate Middleton are the latest buzz coming from the royal wedding front, but I found this little tidbit to be much more interesting:

Kate Middleton used to be an assistant jewelry buyer for British retailer, Jigsaw, back in 2007. Who knew?

Sure it's not as juicy as the pics of the happy couple taken by renowned fashion photog, Mario Testino, but it's a sure sign the future Queen of England not only has good taste in men - she knows her way around the accessories landscape.

While most of us won't be able to wear anything close to the jewelry in Kate's stash, we can own a piece of jewelry designed by her.  PEOPLE reports this simple bean charm necklace was created by Kate when she targeted a gap in the teen marketplace for a sophisticated style both mother and daughter could wear together.

 

Designer, Claudia Bradby, helped Middleton realize her vision back in 2007.

“Kate was very clear in what she wanted,” Bradby told PEOPLE of Middleton’s involvement (they met three times during the design process). “It was completely her initiative because she thought there was a gap in the market for something real and sophisticated, that had longevity for that age group.”

The final result is this silver bean pendant, rose quartz and freshwater pearl charm on a long silver chain, priced at 46 pounds ($73). Visit Bradby's website to stock your stuffing with one of your own. 

I also found these whimsical charm necklaces on sample sale sensation, JewelClub, that are great for new moms:

Or just for fun (loving that both Sex And The City silhouttes are represented here - the clover and the horseshoe).

What do you guys think of Kate's jewelry idea? Is there still a gap in the market for sophisticated mother/daughter jewelry? I think she was on to something....