Tiffany & Co. is currently offering the priciest piece of high jewelry it’s ever created in its 184-year history.
The World’s Fair Necklace, which was unveiled at a Tiffany event in Dubai on Sunday, comprises a staggering 180 carats of diamonds set in platinum that are just as gasp-inducing as the price tag.
While the American jeweler did not give an exact figure, industry experts have estimated the necklace’s value at between $20 million and $30, as reported by WWD. That would make it the most expensive piece Tiffany has ever offered collection.
The World’s Fair Necklace pays homage to the Tiffany necklace that was made for the World’s Fair in 1939. The original, which was priced at a comparatively modest $28,000 in the ’30s, was set with an aquamarine stone totaling 200 carats as well as 429 diamonds. The reimagined piece, however, which was two years in the making, features a total of 578 diamonds, including 353 round brilliant stones and 224 custom-cut baguettes.
The pièce de résistance is the “Empire Diamond.” Named after a fellow New York City icon—the Empire State Building, that is—this 80-carat D color flawless diamond takes the place of the original’s aquamarine stone at the center of the necklace. The oval-shaped rarity is the largest and most expensive diamond ever offered for sale by Tiffany’s. While the famous 128.54-carat “Tiffany Diamond” is technically bigger, it has been labeled by Tiffany as “priceless” and is not for sale.
The Empire Diamond was mined in Botswana, cut and polished in Israel and finally set in Tiffany’s New York City workshop. And it’s versatile, too. The Empire Diamond can be removed from the World’s Fair Necklace and mounted onto a ring with the help of a Tiffany jeweler, who will be on call to convert the piece whenever the wearer desires.
That means you’re really getting two pieces of high jewelry for around $30 million. Dare we call it a bargain?