Most Expensive Tiffany Christmas Gift Ever Could Fetch $30M

This Christmas someone could be the lucky recipient of Tiffany & Co’s most-expensive diamond necklace ever created.

The luxury jeweler has taken the wraps off what it is calling “The World’s Fair Necklace,” which it unveiled in Dubai on Sunday, featuring 180 carats of diamonds set in platinum, CNN reported. The piece is worth an estimated $20 million to $30 million.

The diamond necklace has an 80-carat oval, flawless, D-color “Empire Diamond” set in the center of the piece, according to the news outlet. The diamond, which is named for the jeweler’s hometown, came from Botswana and was cut and polished in Israel and set in New York City at Tiffany’s workshop, CNN said.

The diamond necklace was inspired by a piece that Tiffany made for the 1939 World’s Fair in Queens’ Flushing Meadow-Corona Park in New York City, which featured a 200-carat aquamarine stone with more than 400 diamonds.

At the time, the necklace was priced at $28,000, or $557,000 in today’s value, WWD said.

For the current necklace, Tiffany designed the Empire Diamond to be able to be removed and mounted to a platinum ring, with the help of a company jeweler, who is at the ready when required, according to the news outlet.

It also includes 353 round brilliant stones, 224 custom-cut baguettes for a total of 578 diamonds, which took two years to complete from the design concept stage to completion, WWD reported.

Tiffany & Co. chief gemologist Victoria Reynolds told WWD, “I think it actually reinforces our position as the king of diamonds for the past 185 years. There is nothing new about our commitment for selling incredible stones with extraordinary design and craftsmanship. It’s a continuation of an incredible legacy and history. It’s part of our DNA and part of who we will be as we evolve with many exciting things ahead of us.”

“The World’s Fair Necklace” is for sale, but Tiffany has not released a price for the necklace. It is being considered the most expensive jewelry piece in Tiffany’s history following behind its 128.54 carat “Tiffany Diamond” which was not released for sale and was deemed priceless.

Tiffany did say that it does hope whoever does purchase “The World’s Fair Necklace” will agree to lend the piece for special brand exhibitions, WWD said.