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Welcome to my Blog website, LA Diamond Guy.com. My two main businesses are Luxe Chains which specializes in gold chains, and my wholesale diamonds website, Luxe Wholesale Diamonds. I have a passion for fine jewelry and so I created this blog to showcase new designs we're working on, as well as inform visitors on what's going in the jewelry industry.

Sunday, December 28, 2008

No Recession for Rare Diamonds


On December 10th, Christie’s International in London sold a colored diamond for a whopping $24.3 million dollars! The diamond was once owned by King Philip IV of Spain. Christie's annouced this sale was a new record for the sale of any loose gem.


The diamond sold was a 35.56 carat fancy greyish-blue diamond. It has been owned by the same private collector since 1964 and was only expected to fetch bids of around 9 million pounds, but when the auction ended, the final sale price was 14.6 million pounds instead.

Francois Graff, the new owner and of Graff Diamonds intends to re-cut the gem in order to get the slightly chipped gem a flawless clarity grade and more depth in order to give the stone an appearance of a deeper face up color. “We’ll lose a few carats, but nothing too substantial,” said Graff.

King Philip (1605-1665) gave the stone to his daughter, the Infanta Margarita Teresa, as part of the dowry of her marriage in 1667 to the Emperor Leopold I of Austria. In the 18th century, it entered the crown jewels of the Bavarian royal family, and has been known as the “Wittelsbach Diamond” ever since, Christie’s said.

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