The spectacular Annenberg Diamond, a 32.01-carat flawless diamond, set a world record when it sold at Christie’s last Wednesday for an astounding $240,000 per carat—which translates to a jaw-dropping $7.7 million. The diamond was donated by billionaire philanthropist and passionate art collector Leonore Annenberg’s estate. According to the Associated Press, Ms. Annenberg purchased the diamond for her 90th birthday. Chairman of Christie’s Europe and international head of jewels Francois Curiel praised the diamond for combining the best of the 4Cs: “[The diamond has] top color, perfect clarity, ideal cut, and excellent weight. And if you add to this the impeccable provenance of the Annenberg name, you have one of the finest gems to appear on the market in many years.” As if that weren’t enough, the diamond is set into a ring that was designed by renowned Manhattan jeweler David Webb.