The Wittelsbach diamond, a rare blue diamond which passed through generations of royalty, sold for $24.3 million at a Christie`s auction in London.  The 35.56 carat diamond broke the world record for any diamond sold at any auction.

"Blue diamonds are rare and to offer a blue diamond of this size, quality, shape and provenance is truly extraordinary," a Christie`s spokesman said.

The Wittelsbach diamond was purchased by King Philip IV of Spain in 1664.  He later gave to his daughter Infanta Margarita Teresa.  The infanta is the famous child with blue eyes and blond hair featured in Spanish painter Diego Vel?zquez`s masterpiece Las Meninas (1656).

Although the infanta died young – at 21 –  the diamond remained in the family with her husband, Leopold I of Austria..  The diamond got its name in 1722, when the granddaughter of Leopold married a member of the Wittelsbach family.

The diamond remained with Bavarian royalty over the next few centuries.  It turned up in 1931, when it was offered for auction.  There are conflicting reports as to what occurred to the diamond after that – some say it fell into private hands – and the diamond resurfaced again in 1962, when a private jewelry recognized its significance.