wish we could see the "chatoyance" you speak of in the handle...thats tough to capture on film
from a woodworking forum-
Chatoyance ("C") is the result of light reflected from wood cells that are not all nicely aligned. Rather, sometime during the growth cycle cell groups took on different wavy directions. When viewed from one direction, some cell groups will reflect more than others but as the piece is moved, a reversal occurs. You are seeing the cell groups from a different aspect and their colors have changed. If you've ever had to try to repair a piece like this, you know that it is impossible to do with the usual arsenal of powders and sticks.
"C" can be enhanced by enhancing the color differences between the cell surfaces and this can best be done with dyes (water soluble is better here) or colored, transparent finishes. That's why amber shellac, oil, and NC Lacquer work well - they have color and they are transparent. If you want more enhancement, use multiple coats of very dilute dye or multiple coats of very thin shellac (1/2# to 1# cut) to which an alcohol soluble dye has been added. Stay on the lighter side and build your color with multiple coats. Sand lightly with very fine paper between coats. When you get the look you want, finish it with a transparent coating. Different woods have different cell sizes and grain structures and will react differently and some woods need more color added than others but this approach will work for most everything. The dye and sanding enhances the color differences and the transparent finish enhances the shimmer. I have a piece of cottonwood burl that barely shows "C" in its raw state, but give it a couple coats of orange dyed shellac and it looks like it's on fire.
I have also seen (but not tried) chemical stains that really pop the grain on some woods. A gentleman name George Frank who wrote a lot for Fine Woodworking produced some spectacular results using ferrous sulfate on figured maple. Forget pigments - they will only hide, bury, obscure, muddy, or mute what you want to enhance.
Very neat damascus Karl