DALLAS, TX.- Who needs Santa when there's Heritage's Holiday Fine Jewelry Signature® Auction? The merry and bright December 4 event features a magnificent array of gift-worthy items, including sparkling diamonds in a rainbow of colors, stunning designs from the world's top jewelers and even a solid-gold Frascarolo helicopter – which, frankly, should be on everyone's wish list.

Among the auction's gorgeous diamonds is a 3.06-carat fancy pink diamond ring. The marquise-shaped pink stone is set in platinum and surrounded by a border of 18k rose gold, along with full-cut diamonds weighing a total of approximately 0.55 carat. Other diamond standouts include a beautiful 4.62-carat emerald-cut diamond and platinum ring and a show-stopping 5.65-carat pear-shaped yellow diamond and 18k gold ring. There's also a colorful Michael Beaudry ring whose centerpiece is a 0.78-carat marquise-shaped blue diamond flanked by pink, yellow and green diamonds.

"Colored diamonds are quite rare, which makes them highly desirable and collectible," says Jill Burgum, Heritage Auctions' Executive Director of Fine Jewelry. "They're essentially wearable treasures."

But colored diamonds aren't the only treasures in the auction. Some of the world's most renowned jewelry designers are represented in the sale, including Cartier, Van Cleef & Arpels, Schlumberger for Tiffany & Co. and Oscar Heyman, all of which are known for their exquisite creations and star-studded client lists.

One of the most special designer lots is a pair of Schlumberger for Tiffany & Co. diamond and sapphire earrings. As stylish now as they were 70 years ago, the circa-1950 earrings designed by Parisian artist and jeweler Jean Schlumberger – the first Tiffany & Co. designer given the privilege of signing his name to his jewelry – feature 33.85 carats of sapphires and 1.75 carats of diamonds, the latter of which form the shape of a flower on each earring. Schlumberger's love of nature, including butterflies, birds and, of course, flowers led to many enchanting designs that are highly prized and collectible to this day.

Also of note is a convertible sapphire, diamond and 18k gold Van Cleef & Arpels necklace. Featuring European-cut diamonds weighing a total of approximately 1.00 carat and round-shaped sapphires weighing a total of approximately 2.20 carats, the multipurpose necklace converts into two identical bracelets. When Parisian jeweler Alfred Van Cleef opened his salon in partnership with his brothers-in-law, Julien and Charles Arpels, in 1906, the company quickly earned a reputation for using only the highest-quality colored gemstones, and this sapphire-studded beauty is no exception.

Since 1847, Cartier's distinctive Oriental-influenced style has delighted its prestigious clientele, who have helped the brand grow into a jewelry empire with worldwide locations. Representing Cartier in this auction is a wonderful pair of diamond and 18k white gold dragon cuff links. A single emerald on each cuff link stands in for the dragon's eyes.

Other designer favorites on offer include a cross-shaped sapphire and diamond pendant by "the jewelers' jeweler" Oscar Heyman; a hand-forged 22k gold necklace by Jean Mahie; and a pair of coral, diamond and 18k gold earrings by Henry Dunay, an acclaimed American jeweler and international star who passed away just this month.

But possibly the most delightful item in the auction is the enamel and 18k gold Pierno Frascarolo & Co. helicopter, complete with spinning rotors and emerald and ruby accents. In the 1960s, Frascarolo became well known for his animal creations in enamel and gold, but this playful objet de vertu might represent his company at its most whimsical.