The Bleu Royal internally flawless fancy vivid blue pear brilliant-cut diamond of 17.61 carats and 18k gold ring was estimated to sell for between $35 million and $50 million.

Christie’s Magnificent Jewels auction at the Four Seasons Hotel des Bergues in Geneva featured a curated selection of historic and modern jewellery from all periods as well as famous jewellery houses such as Harry Winston, Cartier, Van Cleef & Arpels and many more.

The auction house said that prices for top-quality coloured diamonds have increased exponentially in recent years driven by collector demand and an increasingly limited supply. In more than 250 years of auction history at Christie’s, only three fancy vivid blue diamonds over 10 carats have ever appeared for sale between 2010 and 2016.