Mark Davis is taking vintage Bakelite (not sure if he is using vintage pieces or just a supply of the material he is then carving) and setting it with real gems. In this case, diamonds, rubies and pink sapphires set in gold. This piece sells at Barneys for USD $10,400; he also designs pendants and rings. A similar though less expensive design sells at Twist.
Absolutely gorgeous piece. Would buy in a minute if I had the extra $