TODAY   |  October 25, 2010

Spectacular! 31-carat diamond on display

TODAY takes a look at a rare blue diamond gemstone that will be on display at New York City’s American Museum of Natural History.

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This content comes from a Full-Text Transcript of the program.

NATALIE MORALES, anchor: All right. Well, switching gears here, if diamonds are a girl's best friend, this one certainly takes the cake. It's a 31.06 caret Wittelsbach - Graff diamond. And starting on Thursday it's going to be on display at the American Museum of Natural History here in New York , and Henri Barguirdjian is the president and CEO of Graff Holdings . Henri , good morning. So nice to have you here.

Mr. HENRI BARGUIRDJIAN: Good morning. Thank you for having me.

MORALES: This is quite the rock here, as we take a look. It's absolutely just perfect. Give me a little bit of the history of this.

Mr. BARGUIRDJIAN: Well, it's a very special stone. It was discovered in the late 1600s , sold to the kind of Spain , who gave it to his daughter when she married Emperor Leopold of Austria as part of her dowry. Then it passed through various German royal family, it became the crown jewel of Bavaria , hence the name Wittelsbach .

MORALES: Mm-hmm.

Mr. BARGUIRDJIAN: And after the war, all sorts of things happened to it. It went to an auction, it was stolen, disappeared, found again in 1958 .


Mr. BARGUIRDJIAN: Sold privately, and we bought it two years ago at auction, and here we are.

CURRY: And so you're now auctioning it off, is that what's happening?

MORALES: Displaying it.

Mr. BARGUIRDJIAN: No, no, no. We bought it at an auction.

CURRY: Uh-huh .