, mined in India nearly 400 years ago , has been privately owned since 1964 . Until 1723 , Christie 's said , all diamonds worn by European royalty came from India . The diamond has a royal lineage . Christie 's traces it thus : King Philip IV of Spain -LRB- 1605-1665 -RRB- selected the diamond in 1664 as part of a dowry for his daughter , the Infanta Margarita Teresa -LRB- 1651-1673 -RRB- . She had become engaged to Leopold I of Austria -LRB- 1640-1705 -RRB- , who later became Holy Roman Emperor . When she died in 1673 , her husband retained the diamond , which was passed on to his heirs . In 1722 , the diamond entered the Wittelsbach family when the Archduchess Maria Amalia of Austria -LRB- 1701-1756 -RRB- married the Bavarian Crown Prince , Charles Albert -LRB- 1697-1745 -RRB- . It was worn by successive rulers until the abdication of King Ludwig III -LRB- 1845-1921 -RRB- in 1918 . The world 's largest deep blue diamond is the `` Hope Diamond , '' a 45.52-carat stone housed at the Smithsonian Institution in Washington , DC . Diamonds apparently are recession-proof . Christie 's
LONDON , England -LRB- CNN -RRB- -- What recession ? Christie 's , the famed auction house , this week sold a nearly 36-carat diamond for $ 24.3 million , which it said was the highest price for a diamond sold at auction . The 35.56-carat diamond dates back to the 17th century . The previous record was a mere $ 16.5 million for a 100-carat diamond in 1995 , Christie 's said . `` In the midst of these challenging times , we were thrilled to achieve an historic price for an historic diamond , '' said Francois Curiel , chairman of Christie 's Europe and auctioneer for Wednesday 's sale . The 35.56-carat Wittelsbach blue diamond , dating to the 17th century , was purchased by international jeweler Laurence Graff , the auction house said in a release . Graff was bidding against Aleks Paul of Essex Global Trading , a professional of Russian origin based in New York , Christie 's said . `` Known as ` Der Blaue Wittelsbacher ' since 1722 , it is one of very few diamonds which can claim 17th century heritage , incredible rarity and exceptional beauty . '' The diamond