Farnese blue diamond, with 300-year royal history, fetches $6.7m

The Farnese Blue diamond, which was passed down through European royal families for 300 years, sold at auction in Geneva on Tuesday for 6.7 million Swiss francs ($6.7 million), beating auctioneers Sotheby’s estimate of 3.5-5.0 million.

The 6.16 carat, dark grey-blue gem from the Golconda diamond mines of India was first given to Elisabeth Farnese, daughter of the Duke of Parma, in 1715 when she married Philip V of Spain.

It was passed down through more than seven generations and, as their descendants married into other European families, it traveled from Spain to France, Italy and Austria.

Two other jewels went for even higher prices, also eclipsing their estimates.

An oval diamond ring weighing 50.39 carats went for 8.1 million francs, while a round brilliant-cut diamond weighing 51.71 carats sold for 9.26 million francs.