The world is no stranger to expensive jewelry, with many valuable gems costing well over a  million dollars However, on May 18th, 2016, all the records were shattered as the most expensive jewel ever to be sold was purchased at an auction by an unknown buyer.

The Oppenheimer Blue Ring

The Oppenheimer Blue is a 14.6-carat absolutely breathtaking blue diamond ring. It has a unique rectangular look and stands out with its stunning clarity. The blue diamond sits on a beautiful platinum band. On the side of the ring, the blue diamond creates a trapeze-shape. The diamond itself is considered virtually flawless in terms of clarity.

The blue diamond is also among the rarest and most desired of stones. As little as one carat can sell for several hundred thousand dollars. What also makes the size of the ring so rare is that only 10% of all blue diamonds found on Earth are larger than one carat. It is also considered the most vivid blue diamond known to man, again hiking up the value of this precious stone.

Auction and History of the Oppenheimer Blue

The last owner of this precious gem was Philip Oppenheimer. Oppenheimer was a British jewelry dealer who specialized in diamonds. He also was an owner of a racehorse. Sadly, Oppenheimer passed away on October 8th, 1995. He was mostly well known for his position of chairman of the Diamond Cartel for over 45 years, and, of course, owning the Oppenheimer Blue. However, despite his death, Oppenheimer’s legacy lives on in the beautiful blue diamond ring he left behind for the world to awe over. 

Before the auction, the ring was said to be worth $38-$45 million. The final sale price of the ring was a staggering $57.6 million. The sale price cruised over the estimated price with ease. Blue diamonds have always been a staple of high-end elegance. Typically they are sold at Christie’s auction house. In fact, the previous world record holder for the most expensive jewel belonged to another blue diamond. Nicknamed the “Blue Moon Diamond,” the precious stone sold for $48.6 million, which is still a mind-blowing number.

The bid started at nearly $30.1 million. The blue diamond is considered a “once in a lifetime gem,” so auctioneers at Christie’s were obviously patient with bids. After many bids, it was finally sold at the $57.6 million price tag. The entire auction totaled a net amount of a jaw-dropping $175 million.

The Eternal Appeal of Diamonds

Diamonds are usually considered by many one of the top precious stones on Earth. Its exquisite look and many unique designs also make it one of the most popular. While most can’t afford the sort of price tag associated with the Oppenheimer Blue, diamonds come in all shapes, sizes, and clarity, ranging in different prices.

Diamonds are also universal in the world of jewelry. They are used in necklaces, earrings, rings, bracelet, anklets, and even in beaded designs. With how often diamonds are used in jewelry, real diamonds can be hard to find, with so many imposters in the market.

Your best bet for buying quality diamonds is finding a reputable online store, like Beads of Cambay. With 25 years of experience, Beads of Cambay prides itself on its quality jewelry, fair prices, and great customer service. It’s a one-stop shop for all your jewelry needs and desires.

August 25, 2016 — Arun Yadav