Since Swatch Group purchased Harry Winston in January 2013, it hasn’t revealed much about its plans for the luxury retail brand. However, one thing it has openly done is keep with the Harry Winston tradition of flamboyant purchases of statement diamonds and gems.

On Wednesday, Harry Winston purchased the largest known flawless vivid blue diamond in the world for nearly $23.8 million at Christie’s Geneva Magnificent Jewels sale. The nearly $1,800,000 per carat price paid for the 13.22-carat diamond represents a world record for a blue diamond.