Rare Blue Diamond Sells in Geneva for $17 Million


A rare blue diamond has swept the auction block at Sotheby’s in Geneva, selling for a staggering US$17.1 million amongst other highly-coveted colored diamonds. Indeed, such diamonds were in high demand in this week’s jewel sales, reaching considerable prices in the Swiss city.

Wednesday saw the cut 8.01-carat Sky Blue Diamond selling for much more than the $12.8 million it fetched in 2012, said David Bennett, International Jewellery Division Director for Sotheby’s. The emerald-cut jewel, set in a Cartier ring, was originally expected to fetch $15 to 25 million. The diamond exhibits an exceptional vividness and lustrous hue; or in Bennett's words, a "wonderfully clear celestial blue”.

You may also like: Rare ‘Sky Blue Diamond’ Expects to Fetch $25 Million at Auction

According to Sotheby’s, the diamond was graded the highest possible color grading at fancy vivid blue. The grading is awarded to a mere 1% of blue diamonds submitted to the Gemmological Institute of America (GIA), making the stone incredibly rare.

“People who want the rarest and the most beautiful are seeking out these rare treasures,” said Bennett.

The blue diamond’s impressive price tag is still a fraction of the current world record, set in May when the 14.62-carat Oppenheimer Blue was sold for a staggering $57.5 Million.

You may also like: The Oppenheimer Blue Smashes Auction Records With $57.5 Million Bid

Copyright © www.luxury-insider.com
Luxury-insider.com is part of the SPH Magazines Luxury Network