The Quick 10: 10 Diamond-Encrusted Things You Don't Need

I would think that in this economy, the proliferation of everyday items festooned with diamonds would grind to a halt. But I'm wrong, and here are 10 pieces of evidence that prove it.

2. iPod. Duh. If you're going to have the blinged-out earbuds, you'd better have the complementing iPod. For $12,495, you get a white-gold, 4G Nano with 480 diamonds.

3. Yalos LCD TV. It has a white-gold panel and a smattering of diamonds throughout the screen's edge. The "smattering" adds up to 20 carats. It's a bargain at $127,000.

4. Hot Wheels car. Again with the white gold. Hot Wheels premiered this $140,000 toy last February. It has more than 2,700 blue diamonds, which are not quite 23 carats in total. The tail lights are made out of rubies, no less.

6. iPhone. Austrian jeweler Peter Aloisson recently made the priciest iPhone known to man: it's solid 18-carat yellow gold, white gold and rose gold, has 138 brilliant cut diamonds and one 6.6 rare diamond that serves as the home button. It'll only set you back $2,517,345.

8. Memory Stick. I totally need this for all of the writing I do. I bounce around to several different computers, you know, and I totally make enough money blogging to buy a memory stick encrusted with 600 brilliant-cut diamonds. Yeeeaaahhh. Bonus: you can get it in white or yellow gold!

While they might not be diamond-encrusted, we're giving away five $10,000 scholarships. All you have to do is tell us, in 750 words or less, why you should win. But you have to tell us by January 31st. We look forward to reading your entries!