That all depends on the kind of baguette you're referring to. If we're talking about a baguette cut diamond, then the answer is yes – or in 'Bachelorette' Jillian Harris' case, the answer is "I Do." The reality show contender recently received a $60,000 platinum ring set with a 2.05-carat pear-shaped center diamond with six baguette-cut diamonds from Ed Swiderski, a contender on the show who proposed to Harris during the program's season finale.

Baguette cut diamonds are exactly what they sound like – long, rectangular diamonds that appear like a "long rod", as the French would say. Baguette cut diamonds are usually used side stones, and normally come in small weights, less than one carat. They originate from the early 20th century, when they were associated mostly with the Art Deco and Art Nouveau movements.

Some might consider baguette cut diamonds "not shiny enough", due to their relatively darker appearance, but it didn't stop jeweler Neil Lane from using them in the custom-made design he made for Swiderski. The baguette cut was also used in the past by other celebrities of a somewhat more significant status: baseball legend Joe DiMaggio gave Marilyn Monroe a platinum eternity band set with 35 baguette-cut diamonds back in 1954. When Mel Ferrer proposed to the timeless Audrey Hepburn, he also presented her with a baguette cut diamond eternity band as engagement ring. (Nevermind that both marriages ended in divorce…)

Diamonds are a girl's best friends, but not exclusively. The Rebellion REB-5 Tourbillon Invisible, is a Swiss watch with a twist – it is covered by 319 baguette cut diamonds, mounted on the watch without any setting claws showing with a technique developed by Van Cleef & Arpels. It's not the only watch that uses baguette cuts diamonds either –  Rado has released it newest version of the Rado Jubile Ceramica, with 102 black treated baguette cut diamonds, which are set into white gold. They also tell time.

In this time of uncertainty, as the repercussions of the financial crisis are still being sorted out, the baguette cut diamonds are making a comeback. Baguette cut diamonds have a higher retention of carat weight, which basically means bigger diamonds – for less money. The simplicity of making a baguette cut diamond also makes it favorable among diamond cutters themselves, who are able to cut costs and labor.

With various unique applications, the baguette cut is not for everybody. Only those with a particular taste would go for a baguette cut diamond. But if you're looking to achieve elegance and beauty for a lower cost, they just might be the solution for you.

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Is the diamond industry truly collapsing? While the burden of the financial crisis is starting fade, although not truly behind us just yet, it seems that the diamond industry is still struggling to make do.

Diamond sales worldwide are plunging drastically, as indicated in De Beers' unprecedented drop of 99% in net profit during the first half of 2009. Namdeb, Namibia's biggest diamond producer, which reported a production of 2.1 million carat in 2008 and sales 24% higher than in 2007, foresees major challenges in 2009, and expects sales to drop 50%. The company, which is one of De Beers ' ventures, has also temporarily halted production in early-April, due to the drop in demand.

Although De Beers believes it can get back on track by performing massive layoffs and executing a reorganization plan, one has to wonder whether this is enough. The world is changing; even the diamond giant itself admits that the jobs it has eliminated due to the crisis will not be recreated once the crisis is over.

Meanwhile, Anglo American, which holds 45% of De Beers, has refused a merger proposal by its rival, Xstrata, insisting on staying independent. Such a merger would save up to $1 billion a year, Xstrata claims, but Anglo American believes it can survive on its own. Only problem is, now it has to prove it, and with weak results like De Beer's, it seems unlikely.

On the other hand, Russian diamond giant Alrosa recently declared its plan to sell $2 billion worth of diamonds in 2009. That is an admirable plan, but to whom is the company planning on selling the diamonds?

"A Diamond is forever", states the 60-year-old De Beers slogan, but empires come and go. If Anglo American eventually does succumb to Xstrata's merger, it could lead to an overhaul change in the diamond industry, and might finally take one of the major diamond company out of the picture, or at least change its status. If successful, it might lead other diamond giants to change their course and conform to mergers of their own, for example, the highly anticipated merger between Rio Tinto and BHP Billiton.

Perhaps the answer doesn't necessarily lie in the concept of mergers, but either way, cooperation between the different diamond groups is required. Heads of the industry, mainly De Beers, Rio Tinto, BHP, Alrosa and Harry Winston, realized this months ago when they decided to form the International Diamond Board, which is aimed at promoting diamonds and diamond jewelry in the consumer markets.

One thing is certain – diamonds need to make a comeback. Hopefully, it won't be long before the world's rich come out of their hiding and start buying luxury items again. The industry should also consider investing in more ordinary folks and coming up with creative ways to reach this population.

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When was the last time you watched a movie about a $120 Million diamond heist? Thirty years ago diamond robbers were bad guys who would eventually get arrested, diamonds in hand. Today perhaps we're a little bit more honest, or maybe just more experienced due to global media, so sometimes our diamond robbers are cast by beloved celebrities and sometimes they're not really caught, although the dubious nature of crime remains.

But one way or another - the sophistication, shrewdness and resourcefulness of the robbers is a mere teaser to the scene where hundreds of mind-blowing, sparkling, coveted diamonds are poured into bags. More diamonds than we can ever imagine laying our hands on… Well, one Italian dude went for the diamond dream. He had been practicing robbery since he was 6 years old, honing his robbery skills through the years, attaining mastery.

Last week police caught Leonardo Notabartolo, the mastermind of the world largest diamond bank robbery performed six years ago. He was caught with some of the diamonds he had gotten away with. Notabartolo was able to cut through ten different layers of bank security systems, one by one. He was then able to open the vaults and collect $120 Million worth of Diamonds. Why was a mastermind robber such as Notabartolo caught? That is another movie-perfect question. Apparently one of Notabartolo's four team members for the heist was a man who began experiencing anxiety attacks. Other team members thought he should not be counted on anymore. However, Notabartolo called the shots and he said "the dude goes".  

Driving away from the scene of the crime that one anxiety-ridden team member hysterically threw a bag of trash, so carefully collected fingerprints and all, out of the car. Notabartolo, expectedly, had a plan to drive the trash to France and burn it there. This could have been the perfect, unsolved crime. But so it was that a forester detected a bag of unusual trash the next day and summoned the police.

So is this the end of our diamond-perfect movie? No, wait – there is another one coming! Notabartolo hired a lawyer called Basilio Foti and was actually able to walk out of incarceration with diamonds in hand. Basilio Foti's defense rested on the fact that unlike polished, cut diamonds, rough diamonds are hard to trace as they have no special marks on them.

The Italian legal system was unable to incarcerate the shrewd diamond robber, who claimed he had bought the diamonds fair and square. So how about weaving diamond dreams? I think, for me, I'd rather buy me one good carat sized diamond, maybe have a few other gemstones around it, and then go materialize some more positive dreams.

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