Blue Diamond Fetches $30m at Auction

(CBC News:) A grey-blue diamond sold for 16.3 million pounds ($30.3 million) at auction Wednesday in London, exceeding initial estimates significantly.

The 35.56-carat diamond, once owned by Spain's King Philip IV, had been expected to earn bids of up to nine million pounds ($16.7 million) at the Christie's auction.

The stone was purchased by Bond Street jeweller Laurence Graff.

The stone, known as the Wittelsbach diamond, is especially prized for its historic significance. Once passed down from King Philip IV to his daughter Infanta Margarita Teresa in the 17th century, it was later owned by the Wittelsbach family of Bavaria.

Christie's auctioned the diamond in 1931, and it re-emerged in the 1960s.

King Philip IV of Spain gave this blue diamond to his daughter in the 17th century. (Alastair Grant/Associated Press)

The following are some of the notable high value diamonds sold this year by the Sotheby auction house. The original buyers of these exclusive pieces of diamond jewellery is mostly unknown.

		Item #: 1 Fancy Intense Yellow Diamond Pendant, sold for 1.83 Million USD, on April 2008.				Item #: 2 19th Century Fancy Light Brown Diamond and Diamond Necklace, sold for 1.34 Million USD, on April 2008.

		Item #: 3 Pink diamond weighing 4.45 carats, with yellow diamonds approximately 2.50 carats, sold for 2.01 Million USD on April 2008.				Item #: 4 Yellow diamond weighing 13.11 carats, flanked by two pear-shaped diamonds together weighing 1.45 carats sold for 1.595 Million USD on 10th April 2008.

		Item #: 5 Oval shape deep blue diamond weighing 2.01 carats, with brilliant - cut diamonds extending to the shank sold for 1.14 Million USD on April 2008.				Item #: 6 Vivid blue pear-shaped diamond weighing 3.73 carats, set between pearshaped stone shoulders sold for 4.95 Million USD on May 2008.

		Item #: 7 Vivid purplish pink oval diamond weighing 5.06 carats, within a surround of pear-shaped stones, mounted in platinum sold for 2.55 Million USD on May 2008.				Item #: 8 The fancy pink pear-shaped diamond weighing 8.02 carats flanked by similarly-shaped stones sold for 1.321 Million USD on November 2008.

		Item #: 9 Ring with intense yellow cushion modified brilliant-cut diamond weighing 40.74, on a plain yellow gold mount sold for 1.04 Million USD on 15th May 2008.

Blue Diamond Fetches $30m at Auction

King Philip IV of Spain gave this blue diamond to his daughter in the 17th century. (Alastair Grant/Associated Press)

The following are some of the notable high value diamonds sold this year by the Sotheby auction house. The original buyers of these exclusive pieces of diamond jewellery is mostly unknown.