Step 2: Use the clone stamp tool and change the opacity to 30-50%.

Step 3: Clone stamp one side of the object slightly away from the object, like of like a shadow or a reflection.

Step 4: Make a new layer and change it's opacity to 30% or so. Make sure the layer is on top.

Step 5: Select the gradient tool and choose colors appropriate for your image.

Step 6: Drag the gradient around until you've got a fade effect that you like.

Step 7: Use the heal tool and click on the reflection you've made to distort it around. Make it look blurry or something.

Step 8: I think you're done. Yup. Enjoy.