I had a brief stint back 2004-2005 where I took a silversmithing class *loved it* and started making cabochons... and bezel settings - I loved it, but soon found that I really couldn't recoup the $ it took/hours it took to create these. I still have a handful around... but don't know if it's something I'll be dabbling in again anytime soon.
This particular piece is stunning because teh cabochon seems as if it has a life of its own. Created with Prussian blue, purple, black and silvered ivory... PLUS a heavy layer of encasing. It's very very pretty.