DiamondBuzz
Tiffany & Co. Unveils Empire Diamond Necklace Featuring 80-Carat Flawless Gem, Its Most Valuable Jewel for Sale
Featuring an 80-carat, D-colour, internally flawless diamond, the $20 million necklace blends Art Deco heritage with modern craftsmanship—and is the first of its kind from Tiffany to be offered for sale.
Tiffany & Co. has introduced the Empire Diamond Necklace, the most valuable piece ever offered for sale by the iconic jewellery house. The show-stopping centrepiece is an 80-carat, D-colour, internally flawless oval diamond, set in a platinum necklace inspired by a historic Art Deco design.
Valued at over $20 million, the necklace reimagines a piece originally created for the 1939 World’s Fair, which featured a 200-carat aquamarine. The new version replaces it with one of the rarest white diamonds in the world—sourced in Botswana, cut in Israel, and finished at Tiffany’s New York City workshop. Named after the Empire State, the diamond is celebrated for its chemical purity and perfect clarity.
The necklace is adorned with 578 diamonds—including 353 round brilliants and 224 custom-cut baguettes—arranged in a refined Art Deco silhouette. Notably, the centre diamond is removable and can be worn as a ring, enhancing its versatility.
The Empire Diamond Necklace debuted at Tiffany’s Blue Book event in Dubai and quickly garnered global attention. Beyoncé was the first to wear it publicly, including at her 2022 Oscars afterparty and in a British Vogue feature.
While Tiffany’s famous 128.54-carat Tiffany Diamond remains its most iconic (and not for sale), the Empire Diamond Necklace is the first of such calibre to be made available for purchase—solidifying the brand’s position at the pinnacle of luxury and high jewellery design.
DiamondBuzz
Lesotho’s Kao Diamond Mine To Halt Operations Amid Industry Slump
The Mine’s Operator, Storm Mountain, Cited A Severe Financial Crisis Driven By A Prolonged Drop In Global Rough-diamond Prices, Rising Middle East Conflict
Lesotho’s largest diamond mine, Kao, will cease operations on June 30 and transition to care and maintenance. The mine’s operator, Storm Mountain, cited a severe financial crisis driven by a prolonged drop in global rough-diamond prices, rising Middle East conflict-related fuel costs, and stiff competition from lab-grown diamonds.
Despite a warning last October that the mine required $13 million in fresh capital to survive, the necessary investment did not materialise. According to CEO Neo Hoala, the steep market decline made continued operations unsustainable. The shutdown will impact roughly 750 workers.
The mine’s financial downturn is stark: in 2024, Storm Mountain sold 250,000 carats for $50 million—a massive drop from its $105 million revenue in 2022. Kao’s suspension reflects a broader crisis in the diamond sector, following recent insolvencies and closures at Canada’s Ekati mine and South Africa’s Ekapa and Finsch mines.
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