Accessibility links

Breaking News

Rare Blue Diamond Sells for Record $57.6M at Auction

A Christie's employee poses with the 14.62 carats Oppenheimer Blue diamond during a preview in Geneva, Switzerland May 12, 2016.

A rare vivid blue diamond experts call "legendary" and "exceptional" set a world's record Wednesday for the most expensive jewel ever auctioned - $57.6 million.

The gem is named the Oppenheimer Blue after its former owner, diamond mine magnate Philip Oppenheimer.

It sold at Christie's auction house in Geneva after a tense back-and-forth telephone bidding war between two buyers.

The anonymous winner of the diamond will pay $57.6 million, including Christie's fees and commissions.

The Oppenheimer Blue weighs a remarkable 14.62 carats and is considered among the most exquisite pieces of jewelry in existence.

The chairman of Christie's Asia Pacific and China, Francois Curiel, describes it as having a "perfect hue, impeccable proportions and fabulous rectangular shape."

He calls it "the gem of gems."