Diamonds, sapphires and emeralds at Christie’s Auction House

The Annenberg Diamond, one of the world’s most famous diamonds, is to be auctioned at Christie’s in New York.

The auction house offers over 1,000 lots from the Annenberg treasury and other private collections.

The 141-carat Taj Mahal Emerald, estimated to be worth $1 million, will also be among the auction’s top lots.

The global economic crisis has not affected the prices or demand for diamonds. Christie’s says $104 million worth of diamonds were sold in the first six months of 2009. Photo: a Cartier diamond brooch, early 20th century.

The flawless Annenberg Diamond is a square emerald-cut D-color diamond of 32.01 carats mounted as a ring and flanked by two pear-shaped diamonds. The ring was designed by famous jeweler David Webb. The Annenberg Diamond is valued at up to $5 million, which makes it the most expensive precious stone to be sold in the past several years. The unique diamond belonged to Leonore Annenberg, a famous art collector and philanthropist. Together with her husband Walter Annenberg, she put billions of dollars into a trust for educational and cultural organizations. Mrs Annenberg was the former U.S. Chief of Protocol to President Reagan and headed the Annenberg Foundation. Walter Annenberg was the U.S. ambassador to Great Britain, as well as a famous publisher, media tycoon, diplomat and philanthropist. He was made an honorary knight of the order of the British Empire.

This year’s seven highest prices for jewelry and gemstones were paid at Christie’s.

In 2008, the Christie’s Auction House sold over $383 million worth of jewelry.