Tiffany & Co. is set to make history with its most expensive sale ever.
In Dubai, the jeweler unveiled its latest and most valuable creation for sale, the World's Fair Necklace, valued between $20 and $30 million.
The necklace is a behemoth treasure bejeweled with a total of 578 diamonds, all set in platinum. At the center of the opulent piece is Tiffany's "Empire Diamond," a flawless 80-carat stone, that can be removed and mounted onto a ring. A necklace and a ring for the price of one — what a deal!
The World's Fair Necklace is named after its inspiration — a piece that Tiffany's designed for the 1939 World's Fair.
The original necklace, whose whereabouts are unclear, was set with a 200-carat aquamarine diamond. At the time, it was priced at $28,000 (about $557,000 by today’s value), a paltry sum compared to Tiffany's 2021 update.
According to WWD, the World's Fair Necklace is Tiffany's second-most valuable creation, rivaled only by the famous "Tiffany Diamond," which Beyoncé donned in a campaign for the jeweler in August. However, the Tiffany Diamond is considered priceless and not for sale.
The launch of the World's Fair Necklace at Tiffany's Blue Book event in Dubai is the latest in a string of buzzy happenings for the luxury institution.
Since its acquisition by LVMH, Tiffany & Co. has collaborated with Supreme on a capsule collection of jewelry, recruited Beyoncé and Jay-Z for a headline-making campaign titled "About Love," and launched a four-foot-tall advent calendar taking the shape of a Jean-Michel Basquiat painting, all clever moves to appeal to a younger audience.
Clearly, the classically elegant brand is in the midst of rejuvenation — though I tend to doubt anyone on the younger side of its customer base will be shelling out $30 million for the World's Fair Necklace.