Mr. Schlumberger was also the jeweler who, in 1957, set the fabled Tiffany diamond, the largest and finest canary diamond in the world.

Policyholders may be able to select the replacement - a Tiffany diamond for a Tiffany diamond - or the insurer may make the selection, perhaps finding a piece of "like kind and quality" in the diamond district.

In the former I visited Tiffany's exhibit, and held the beautiful Tiffany diamond, which is valued at one hundred thousand dollars, and touched many other rare and costly things.

Ms. Lavington says "people won't notice a a Tiffany diamond in a dime-store setting," She did away with the "utility" haircut and coaxed him into buying an $85 silk tie at Hermes that had "visual sophistication."

Inside, the Tiffany diamond is displayed, with its 1,000-watt shimmer.

Tiffany diamonds twinkled at her earlobes, and her engagement ring was impressive, but Ms. Fielding was dressed simply in black corduroys, black clogs and a worn, slightly stained suede shirt.

He could still remember with shivering distaste that fanfare of congratulations, announcements, dances and teas, the trousseau, and the Tiffany diamond.

The spouse's intentions must be honorable - no taking back the $26,970 Tiffany diamond.

"They told customers, you don't have to spend $10,000 to buy a Tiffany diamond," Ms. Miller said.