The Jewelry Insider

May 18, 2008

An oval blue diamond just won the heavyweight title of the most expensive gem to ever be auctioned. The 3.7 carat fancy-colored blue diamond became the latest acquistion of famed London jeweler, Laurence Graff when he paid a not-to-be-sneezed at $1.33 million per carat for the rock.

The stone was part a jewelry auction in Geneva that raked in around $48.3 million. Other jewels that were snapped at in the swanky Swiss city auction included an emerald colored diamond and pearl necklace that went for $5.6 million and an emerald, colored diamond and pearl necklace that sold for $4.4 million.

Obviously the super-rich aren’t feeling the need to tighten the family belt any time soon.

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