Rare Blue Diamond on the Block

Democrats aren’t the only ones with a penchant for blue these days. Christie’s London is putting an historic blue diamond on the auction block on December 10th, and the little beauty is expected to fetch a whopping $15 million.

The 17th century gem weighs in at 35.56 carats and is known to collectors as the Wittelsbach diamond. The stone was originally given to Infanta Margarita Teresa by her father King Philip IV of Spain on the occasion of her engagement to her uncle, Leopold I of Austria. Um…ew.

The diamond remained in royal custody for over 300 years until it found its way into a private collection, where it has remained since 1964.

"The appearance of a large blue diamond, among the rarest of colors, with a history that can be traced back to the 17th Century and 300 years of royal connections will surely be a thrilling occasion for all collectors of ... rare jewels," said Francois Curiel, international head of jewelry.

Six months ago a 13.39 carat blue diamond stunner sold for a world record price of $8.9 million, but now that the global economy has a serious case of the blues, it’s not clear that Christie’s will be able to secure their estimated purchase price.

To be continued...