Carat for carat, rubies and emeralds generally outprice the common diamond. Certain rare specimens of diamond, however, will eclipse even the priciest examples of those other gemstones. While some priceless gems exist, such as the world famous Hope Diamond, these are the most expensive diamonds ever sold.

The Wittelsbach-Graff Diamond – $23.4 million

The Wittelsbach-Graff diamond is a 35.56-carat blue diamond mined in India. The historic diamond was chosen by King Philip IV of Spain as part of the dowry for his daughter, the Infanta Margarita Teresa. Her suitor, Leopold I, later became Holy Roman Emperor and passed the diamond on to his heirs after she died in 1673. When the Archduchess of Austria married Bavaria’s Crown Prince in 1722, the diamond became known as “Der Blaue Wittelsbacher” (The Blue Wittelsbach) after the Crown Prince’s family. This diamond became the most expensive diamond in the world after being sold to London-based jeweler Laurence Graff in 2008. Graff immediately had the gem altered in order to enhance its color and remove some damage to its girdle, an action decried by some gemstone experts.

The Graff Pink – $46 million

Before this 24.78-carat “fancy intense pink” diamond was sold in 2010 to Mr. Graff at a Sotheby’s in London auction, it had last been sold by renowned jeweler Harry Winston. Pink diamonds are extremely valuable and only the rarest weigh more than 20 carats. It is unknown whether or not Graff plans to alter the Graff Pink. Sotheby’s made an additional $60 million on diamonds at the same auction.

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