The Jewelry Insider

March 21, 2008

If you think the diamonds you’ve bought are expensive – think again.

Compared to some top gems, the diamonds you see on jewelry.com, in stores or even on your finger are bargains compared to some of rocks recently sold.

A rare and flawless blue diamond recently set a record as the most expensive jewel of its kind ever sold. The gem, which is 6.04 carats and sparkles with an unusual blue hue, is almost as breathtaking as the price it fetched at auction in Hong Kong. It went for a whopping $7.98 million, or about $1.32 million per
carat. Because blue diamonds are so rare, they sell for around ten times comparable regular white diamonds sell for.

But, if you prefer your diamonds big and colorless, an upcoming auction in Hong Kong may have that special something. A 101.27-carat stone, the largest white diamond to appear at auction for 20 years will go under the hammer in late
May and is expected to fetch in excess of six million dollars.

The diamond was found at the Premier diamond mine in South Africa, and is being sold by a Europe-based diamond trading company.

If you think those two diamonds are, well, somewhat exorbitant, then you obviously weren’t at the 1990 auction in which a 101.84-carat pear-shaped
diamond, sold for $12.7 million dollars. The diamond was bought by famed diamond
house Mouawad and named the Mouawad Splendor. The gem resurfaced in 2005 hanging
between the ‘assets’ of supermodel Gisele Bundchen. Mouawad had teamed up with
Victoria’s Secret to create their 2005 Fantasy Bra – aptly named the ‘Sexy
Splendor’.

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