Before her recent 50th birthday, fashion designer Lisa Perry, had only to look out the window for a clue to what her husband, Richard, had in mind as a gift. In the Air hears the hedge-fund manager gave his wife a ring that is a miniature version of Jeff Koons’s green Diamond, which graces the terrace of their New York penthouse. The sculpture belongs to the same series as the artist’s 2005 Diamond (Blue), the seven-foot-wide “jewel” that Christie’s displayed outside its New York headquarters last fall and subsequently sold for $11.8 million. No word on which of the two diamonds is this girl’s best friend.

"The Ring and the Bling" originally appeared in the June 2008 issue of Art+Auction. For a complete list of articles from this issue available on ARTINFO, see Art+Auction's June 2008 Table of Contents.