What credit crunch? At Christie’s in Central London, the Wittelsbach diamond became the most expensive stone or piece of jewelry ever sold at an auction. Back in 1664, this sky-blue gem was given as the wedding dowry of a Spanish princess “Infanta Magarita Teresa” painted by Velazquez. This jewel is originally from India and hasn’t been on the market for 80 years. London Bond Street-based jeweler Laurence Graff paid a whopping £16.4 million (US $24.47 million) for the extraordinary Wittelsbach diamond. Mr. Graff said that diamond might have sold for £50 million if there had been no credit crunch. Graff says that he will reshape the 35.56 carat gem before selling it. Earlier, the diamond was expected to sell for £9 million, but the auction ended with setting the world record for the most expensive diamond.

Via: DailyMail