What recession? The Wittelsbach Diamond, an historic 17th century cushion-shaped deep grayish blue, VS2 diamond of 35.56 carats, sold for $24,311,190 at Christie’s in London on December 10, setting a new world record for a diamond, and for any piece of jewelry, sold at auction. It blew past the previous record of $16.5 million for a 100 carat diamond which sold in 1995 in Geneva. The buyer of the record-breaking diamond was Graff Diamonds.
Granted, the Wittelsbach isn’t just any diamond. It has it all: provenance, beauty, and rarity. Deep colors are rare. Blues are rarer still. And its color is reminiscent of the world’s most famous gem, the Hope Diamond. Compared to the record per carat price of a million dollars for a red diamond of less than a carat, this big blue is arguably quite a bargain. But it’s an awesome sum for a gem nonetheless.