In1877, miners dug deep into South African soil in pursuit of the next precious stone. And so they found it – a 287 carat yellow gold diamond. Little did they know that this discovery would mark the beginning of a legacy. This is the story of the Tiffany & Co yellow diamond.
Charles Tiffany’s Self-Titled Stone
As whispers of a rare stone discovered in the South African Kimberly mine spread, one man seized the opportunity. With four successful decades in the jewellery business, Charles Lewis Tiffany made a bold move and acquired the 287.42 carat (57.484 g) yellow gold diamond for $18,000 dollars. Considering the times, this probably put a dent in his pocket nevertheless, Tiffany took the risk. Following a year long cutting process, the stone was reduced to a 128.54 carats (25.108 g) brilliant cut cushion shaped diamond. Finally in 1879, the public would be gifted with the opportunity to marvel over the stone in their flagship Paris branch.
Diamonds Are a Girls Best Friend
Now, you might wonder what happened next. Well, pretty much nothing. The stone became more of an attraction than an item for sale or practical use. However, all of that changed in 1957 when it would grace the neck of Mary Whitehouse at the exclusive Tiffany ball—but only for one unforgettable night. The stone was mounted on a white diamond necklace which accentuated the beautiful yellow hue. A few years later in 1961, it would be seen worn by Audrey Hepburn in the promotion for the “Breakfast at Tiffany’s” film This time it was set into a diamond Ribbon Rosette necklace.
After 58 years, the stone returned to the limelight in 2019, adorning Lady Gaga at the Oscars, where its yellow brilliance contrasted her black dress. Tiffany revisited a previous 2012 necklace design, mounting the stone on a diamond necklace made of 62 stones. The final and most recent wearer is Beyonce Knowles-Carter. In the Tiffany 2021 “About Love” ad Campaign she wore the same necklace as Lady Gaga alongside her husband Jay Z.
The question is, who’s next?
How much is it worth?
This piece is categorically not for sale and remains one of Tiffany’s most prized possessions. That doesn’t mean we can’t speculate the price.
In 1972, Tiffany placed an ad in the New York Times, offering to sell the diamond for $5 million within a 24 hour window. However, this seems to have been more of a marketing stunt than a serious offering, as such no serious buyers came forward. Nevertheless, this event can provide insight into the potential value of the stone. Adjusting for inflation, $5 million in 1972 would equate to around $40 million today.
Additionally, we can look at comparable sales of other famous diamonds for further context. For instance, the Lesedi la Rona stone sold for $53 million, while the Cullinan diamond is estimated to be worth around $400 million. Given these benchmarks, it’s reasonable to suggest that the Tiffany diamond could fall between $50 million – $300 million. But, I guess we’ll never know.