Yellow Diamonds In the Light

At an auction in Geneva last week, the Sun-Drop Diamond sold for more than $10.9 million. Weighing in at 110.3 carats, the massive pear-shaped yellow diamond was found last year in South Africa, adding more to its value since there were no previous owners.

There are only about half a dozen people in the world who are able to participate in auctions when diamonds enter the multi-million dollar price range. For the rest of us who aren't lucky enough to have vast bank accounts, precious gemstones are a great alternative to expensive diamonds.

Gemstones like amethyst and quartz range in cut, size, clarity, and color, and they are used to create attractive jewelry combinations and unique styles. Since they are extremely durable and flexible enough to wear for any occasion, they have proven to be great investment pieces. While gemstones may not have the coveted status of diamonds, they're evergreen staples that certainly deserve a place in your jewelry box.

Check out a few of this season's most-wanted gemstone cocktail rings after the jump...