Switzerland's Shawish Jewelry has created the world's first diamond ring.

Not impressed? Well, consider that the entire ring is carved from a diamond, whereas most other diamond rings are composed of a precious-metal band with a diamond centerpiece. Styleite writes that the 150-carat ring runs laps around some other famous diamond competitors, including Beyoncé's 18-carat engagement ring from Jay-Z and the even better known 30-carat ring given to the late Elizabeth Taylor by Richard Burton.

The ring was created by Shawish's president and CEO Mohamed Shawesh using lasers (yes, lasers!) along with traditional diamond cutting and polishing techniques. It took a full year to carve the ring, which has been copyrighted and is expected to sell for $70 million.

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