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I'm trying to figure out or approximate the refractive properties of a perfect, flawless, spherical diamond the size of a bowling ball. I have a ballpark figure (get it? ballpark/diamond!) of the price, using just the value of wholesale diamonds (price I got was > $121 million) that I'll bump up due to the nature of the diamond's shape.
I'm also going to calculate the weight in pounds for my own purposes.

Depending on the setting you may have priced that too high. You have to remember the price of gemstones in modern times is much much higher then the price of a equivalent gem in a fantasy setting or a technologically advanced setting, Diamonds especially. Fantasy because there seem to be so much more of them and their isn't any artificial scarcity driving up the price and tech because synthetic replacements that are indistinguishable from naturally grown ones would be so easy to make. While I don't know what setting your game is in, if it is a either of those settings then I would half the cost of that gem at least.

The thing would be almost be like a mirror ball for any light passing through it.

or a crystal ball if it's clear and flawless

The inner facets alone will refract lots of light. It will not be smooth inside.

He said flawless, that means a gem that has no inclusions so it is solid all the way thru with no blemishes. A facet is a flat surface on the well surface, of the gem. The refracted lights in side are from the surface cuts. There's a neat Wikipedia article on it.

http://en.wikipedia.org/wiki/Diamond_cl ... ty_grading

Tadrith wrote:He said flawless, that means a gem that has no inclusions so it is solid all the way thru with no blemishes. A facet is a flat surface on the well surface, of the gem. The refracted lights in side are from the surface cuts. There's a neat Wikipedia article on it.

http://en.wikipedia.org/wiki/Diamond_cl ... ty_grading

Actually it is NOT the surface cuts that refract light but the crystalline structure of the gem.

http://www.usatoday.com/news/world/2004 ... mond_x.htm

There was one described as basketball sized found and it was at 3,106 carats (or about 0.6 kilograms) of diamond.