A designer jewellery diamond ring has set a new world record auction price for a blue diamond.
The rare Bulgari Blue Diamond two-stone ring designed in the 1970s fetched 9.94 million at Christie’s auction house in New York this October, which equated to 886,000 per carat.
It was the most expensive item from a private European collection which had more than 450 designer jewellery pieces that were sold to various bidders for a total figure that topped 31.6 million.
Rahul Kadakia, head of jewellery for Christie’s Americas, said: “A world record price was achieved for The Bulgari Blue, a much-celebrated stone that came up for sale at Christie’s for the first time in almost 40 years.”
The jewel was previously purchased in Rome during the early 1970s for a price which would be equivalent to 3.1 million in modern money after taking inflation into account.
A collector had bought the ring as a celebratory gift for his wife in honour of birth of their first son, said Christies.
Mr Kadakia added: “With a sold price of $15.7 million, the stone tripled its value in that time, demonstrating the incredible resilience of diamonds in today’s volatile economic environment and the true, lasting value of fine jewellery.”
The Daily Telegraph reported that diamonds and other coloured-stone designer jewellery have increased in value by 20 per cent compared to figures from 2009.
People who like designer but cannot afford pieces like the Bulgari Blue Diamond may be interested to know that British rocker Pete Doherty is reported to be launching his own range of trinkets and charms.
The Libertines frontman has joined up with Hannah Martin, whose designs have been worn by celebrities such as Agyness Deyn, Angelina Jolie and Madonna.
A spokesperson said that the pair had created an antique-inspired designer jewellery line.
They said: “Peter and Hannah’s designs encapsulate modern luxury. Their aim during the design process was to create collectables that will last the test of time and be handed down through the generations.”
American rapper Kayne West has taken designer jewellery to another level by replacing the entire row of his lower teeth with diamond implants.
He told The Ellen Degeneres Show: “I just thought that diamonds were cooler. It’s really my real teeth.
“I replaced my bottom row of teeth. I guess there’s just certain things that rock stars are supposed to do.”
People who like bling but do not want to replace their teeth can get great designer jewellery on the internet.