A/N: This was done as a challenge, it's the moment the One Ring was destroyed, in Gollum's POV. Constructive criticism welcome.
"I will not do this deed. The ring is mine!"

Master disappears, and his spying friend gasps. All I feel is the need. the need for the ring, for the power, for the precious. Lunging forward - I feel a figure fall with a cry as I thrust him aside - and I grasp for it. The precious. mine, it shall finally be mine. Master mustn't take it, it's mine, my own.

I cannot see the bearer, but I feel the presence of the ring, drawing me, always taunting me. I feel warm flesh in my mouth and then it is mine.! Vaguely, I see the hobbit - the former Master, but now I am master! - fall into visibility, and to his knees, clutching at his hand in agony. But that no longer matters, no one does. I am master now!

I hold the ring aloft, "Precious, precious, precious! My Precious! O my precious!" Power fills me, and I am caught up in it, craving more and receiving it.

Now, suddenly, I'm falling. Holding the Precious tightly, I pay no heed to the dizzying fear - O, Precious. Preciousss.

Glowing, threatening orange is rushing up to meet me - pain, agony. power.

Precious.