Despite all of our recent worldwide economic turmoil, new records continue to be set in diamond and gemstone auction prices. Just this past week, the famed Wittlesbach Diamond, a 35.56 carat cushion cut natural blue, was sold at auction for a record $24.3 million. This price breaks the previous record for a diamond sold at auction of $16.5 million. The Wittlesbach diamond had been passed down through generations of European royalty beginning with King Phillip IV of Spain who purchased the diamond in 1664.
In further news, the largest fancy intense blue diamond ever auctioned, a 13.39 carat, was recently sold for $8.8 million. Also, a 42.28 carat cushion cut Kashmir sapphire was auction for a record $3.5 million. In all of this blue gemstone frenzy though, a 10.48 carat flawless fancy deep blue briolette cut diamond failed to sell despite an estimated price of $6 million – $9 million.
All of this activity serves to remind us that diamonds and gemstones, with their captivating beauty, continue to be one of the most enduring forms of value and investment – even, and in fact ESPECIALLY in turbulent times.