It's rare that the diamond-encrusted version of something costs less than its original version, but Hermès is a rare company indeed. It's worth noting, of course, that the diamond-encrusted versions of the brand's popular Birkin, Kelly and Constance bags are meant to be worn around one's neck and are therefore very small, but still: diamonds. Diamonds and white or rose gold, depending on your personal preference.
These pendants are not brand new, although I first came across them for sale on Hermès' website just last week. There are currently six of them available, ranging from $6,850 to $8,600, depending on which metal and design you choose. If you're an Hermès devotee (and one would think you'd have to be in order to buy a four-figure piece of jewelry modeled on a particular handbag), your choice in pendant will likely be influenced on which of the three is your favorite bag, but overall, it seems as though the Constance translates the best to fine jewelry.