Los Angeles, CA—A one-of-a-kind gold and diamond tiara designed by the late Gianni Versace will be auctioned off on March 23rd, with all proceeds going to charity.  The piece, which was the center of Versace`s famous Atelier Collection, is made with over 1,200 diamonds and features the head of Medusa set at its center.  It is worth an estimated $3 million.  In 1995, the tiara won the De Beers Diamonds International Award because of the incredible detail and craftsmanship with which Gianni Versace designed it.  Prior to this, the piece was held only by private collectors, but has been worn by celebrities like Madonna, Amber Valletta and Donatella Versace. 

Now it is being put up for auction to benefit Aid for AIDS, a Los Angeles County non-profit organization that provides direct financial assistance and support for people living with poverty and disability caused by HIV/AIDS.   The auction will take place online at Bidz.com, with an opening bid of $699,000.  Bidding begins at 9am PST.