The Oscars 2019 was always set to be a talking point, with all the hot topics that had been swirling in the news in the weeks leading up the event, how would it do without a host? Would there be any issues with timing? Who would create a controversy?
What we weren't expecting is that there would be a piece of jewellery industry history made on the night too! Lady Gaga wore the Tiffany Diamond, this is the first time it has ever been worn for an award show or red carpet event, and the first time since Audrey Hepburn wore it whilst promoting "Breakfast At Tiffany's" in 1961. It is believed that Lady Gaga is only the third person to wear the necklace.
The Tiffany Yellow Diamond necklace was released from Tiffany's vault specifically for Lady Gaga to wear.
Since the fabulous Audrey Hepburn wore the necklace, it has been updated to a more contemporary design, with the fancy yellow diamond being suspended from a neckline of cushion cut colourless diamonds, altering in size. The alterations took place in 2012, on the anniversary of Tiffany's founding.
The fancy yellow diamond weighs 128.54 carats, and has been cut in to a cushion cut. The rough stone was found in the Kimberley mine in South Africa in 1877. The rough stone is believed to have weighed 287.42 carats.
It is believed that the necklace is worth between £23 - £28 million. However, with the new design and the additional diamonds around the neckline, my personal opinion is it may be worth considerably more than these estimates, the fancy yellow Tiffany Diamond on its own is generally considered priceless due to the rarity and beauty of such a large, natural fancy coloured diamond. And whilst I have been unable to locate any specific information on the carat weight, quality or cut of the numerous other white diamonds set in to the neckline, I believe that Tiffany's would only use excellent diamonds alongside The Tiffany Diamond. As well as the importance of the diamonds to placing a value on to the necklace, it is worth remembering that the very fact Lady Gaga wore the necklace to the 91st Oscars in 2019, where she won an Oscar for Best Song, will add tremendous provenance and value to the necklace.