Sydney, Australia

At a press conference in Sydney, Australia, tennis champ Serena Williams sported a US $2.5 million diamond necklace.   The grand slam champion befriended Sydney diamond designer Nic Cerrone when she visited his boutique store the day before her opening match at the Sydney International.

Cerrone loaned Williams the multi-million diamond necklace.  But the 27-year old was a little hesitant to wear the diamond necklace.

"I told the jeweler that I would wear it at the press conference because I didn`t have the cash to be losing a three and a half million [Australian] dollar necklace," said Williams.

When Williams sported the diamond necklace at the press conference after her first round win over Australian Samantha Stosur, she set off a frenzy of flashbulbs.  The diamond necklace reportedly contains 427 diamonds.

This isn`t the first time Williams has shown off diamonds: she caused controversy at the 2004 US Open when one of her US $40,000 diamond earrings fell onto the asphalt during a match.