What is this? I bid on two rings on Ebay that are 18k gold and italy stone, but they were specified as diamonds. So I am confused as to whether these rings are real, or if my money would have better been spent on Fred Meyer costume jewelry.

From what I just looked up Italian is most likely the design/er cause there is Italian stone designer bags and leather too.
Did it have the c's in the description or any other markings listed?

carat weight, cut, clarity, color, certification,

From the Italian stone diamond ring I just looked up it had a $195. Value

No, it said Italy Stone. I emailed the seller and he said it's a CREATED diamond. And its cut is better than that of a diamond of the same weight. I cancelled my order with him. I bid on two of his rings, and was fortunately outbid on one...