Jewelry News

Giant Diamond on the Auction Block

July 23, 2009

Every fall Christie's holds its Magnificent Jewels sale, and a signature diamond is often marketed as the centerpiece. Like the record-setting Wittelsbach Diamond before it, this year's big star is a show-stopping 32-carat diamond called the Annenberg.

The flawless emerald-cut gem, owned by philanthropist Lee Annenberg, widow of publishing magnate Walter Annenberg, is so rare, it's expected to fetch close to $5 million - but could get more.

"Gems of this size are extremely rare, and their presence on the market is always an important event in the world of diamonds," said Rahul Kadakia, Christie's head of jewelry.

"This gem's impeccable color, clarity, and polish as well as its prestigious provenance will attract jewelry collectors from all over the world."

The gem will go on tour ahead of the sale with stops in Geneva, London, Hong Kong, Los Angeles and New York.

Last December the 35.6-carat Wittelsbach blue diamond smashed expectations and sold for $24.3 million, which experts said was consistent with rare and colossal diamonds fetching especially strong prices during tough economic times.

And these aren't the only famous diamonds that have made headlines. Jewelry.com has a treasure trove of articles about famous gems and jewels in our archive for your reading pleasure. Enter the words: 'famous' 'diamonds' in the article search field and enjoy the walk down the diamond-filled memory lane.

And if wearing diamonds is more your style, shop the thousands of styles in our treasure chest from all the retailers you trust. Our prices don't have quite so many zeros...

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