Tiffany Acquires Most Expensive Diamond Offered for Sale

The Tiffany Diamond, the jaw-dropping 128.54-carat yellow stone most recently worn by Lady Gaga to the 2019 Grammys, has long been the luxury jeweler’s pride and joy. But now, Tiffany is adding another noteworthy stone to its collection — and this one is actually for sale.

The company recently acquired an 80-carat D color, internally flawless diamond, Town & Country reported. The diamond is the largest Tiffany has ever offered for sale, and the most expensive in the company’s history — if only because the prize Tiffany Diamond has never been offered for sale. Tiffany’s new diamond, which has yet to be publicly named, is expected to go for more than $10 million, though its exact price has yet to be revealed.

Tiffany’s flashy new acquisition, which hails from a mine in Botswana, will be showcased during the unveiling of the company’s redesigned Fifth Avenue flagship store in 2022, where it will be featured in a necklace inspired by an archival piece the jewelry house made for the 1939 World’s Fair.

News of Tiffany’s new diamond comes amid other record-setting developments in the diamond world. Earlier this week, the world learned of an India-based jeweler that broke the world record for most diamonds set in a single ring. The hefty creation, dubbed The Marigold, contains 12,638 individual diamonds, besting the previous record of 7,801 stones.

Separating Tiffany’s new acquisition from both The Marigold and the iconic Tiffany Diamond, however, is that the brand’s new record-setting diamond will actually be offered for sale. The introduction of the luxury brand’s most expensive diamond of all time seems to mirror a similar if surprising trend playing out in the watch industry. As InsideHook executive editor Mike Conklin has noted, the watch business endured a predictably difficult year in 2020, but when it came to the ultra-high-end side of things, sales actually saw an increase. While it may seem counterintuitive for brands to be leaning into extravagance amid a time of economic struggle, it seems the pandemic might actually be encouraging high-end retailers to reach for even higher heights of luxury.