Flawless, timeless, almost priceless

White diamonds are the world’s most expensive gems.

White diamonds are the world’s most expensive gems. The ideal stone is like a piece of ice, whiter than white, graded ‘D’, the purest possible grading, and cut with exquisite precision. Only a handful exist. Ten years ago a pure white, pear-shaped 100.10 carat diamond (pictured here), classified as ‘D’ and internally flawless, was sold by Sotheby’s in Geneva for $16,548,750. Named ‘The Star of the Season’, it is still the most expensive precious stone ever sold at auction. Today its whereabouts are a closely guarded secret, but it is likely that it sits contentedly, if a little unloved, in a secure bank vault, handled on rare occasions by white-gloved admirers.

‘In the main,’ says Matthew Girling of Bonhams, ‘people buy jewellery to wear. But at the top end of the market there are people with deep pockets who might consider buying a diamond, a ruby or a sapphire for a very large amount, as part of a broader portfolio of investments.