What Makes a Necklace Worth $40 Million?

Three years ago, Bulgari CEO Jean-Christophe Babin signed off on the acquisition of an extremely rare and pure rough 150-carat diamond. Snapping it up was a mix of analysis, expertise and luck. ”It’s complicated to estimate what you’ll be able to extract, in terms of flawless stones. We thought we could go up to 150 carats with this one, and therefore we bet above the others,” says Babin. “It’s something that you don’t normally see in the life of a jeweller.”

It turned out to be a winning bet. Some 2,800 hours of work later, the necklace became the ‘Serpenti Aeterna’ with seven pear-shaped diamonds of 140 carats (10 carats were sacrificed to make it 140, to coincide with the 140th anniversary of the house). It was worn by Bulgari ambassador Priyanka Chopra at the brand’s high jewellery event held at the Baths of Diocletian in Rome on Monday. Babin calls it “the necklace of the century”.