Auctions

‘Rarest of the Rare’ Blue Diamond Expected to Top $48M at Auction

AuctionsFeb 16, 2022

‘Rarest of the Rare’ Blue Diamond Expected to Top $48M at Auction

The 15.10-carat fancy vivid blue, mined by Petra last spring and purchased by De Beers and Diacore, heads to Sotheby’s in April.

20220216_Cullinan-blue-header.jpg
Sotheby’s will put the 15.10-carat “De Beers Cullinan Blue Diamond” up for auction in a single-lot sale this April.
New York—One big blue diamond made headlines when it was uncovered in South Africa last year and purchased by two major players. Now it’s doing so again as it heads to auction.

Sotheby’s announced Wednesday it will offer the 15-carat fancy vivid “De Beers Cullinan Blue Diamond” in a single-lot sale this spring.

The diamond is estimated to sell for more than $48 million, or $3.2 million per carat.

Mining company Petra Diamonds uncovered the original rough, weighing 39.34 carats, at the Cullinan mine in April 2021.

De Beers Group and manufacturer Diacore International, a De Beers sightholder and master diamond cutter, purchased the stone for $40.2 million last July.

Since then, the companies have been analyzing, cutting and polishing the stone to bring the diamond that’s been dubbed the De Beers Cullinan Blue to life.

20220216_Cullinan-blue-rough.jpg
Pictured here is the 39.34-carat rough stone from which Diacore cut the 15.10-carat step-cut De Beers Cullinan Blue diamond.

What emerged is an internally flawless 15.10-carat step-cut fancy vivid blue diamond Sotheby’s is calling the largest vivid blue diamond ever to appear at auction.

The GIA Monograph Report on the stone states: “Achieving a fancy vivid color grade in a step cut or emerald cut adds to the rarity, since most other fancy shapes intensify the body color more efficiently in the face-up position than step cuts. To achieve a fancy vivid grade with a step cut or emerald cut, the inherent bodycolor has to be stronger than virtually every other fancy shape.”

Sotheby’s will offer the diamond in a live single-lot auction in late April—tentatively April 27—anchoring Sotheby’s Hong Kong Luxury Week.

Prior to that, it will be showcased in a worldwide tour, starting in New York before traveling to London, Dubai, Shanghai, Beijing, Shenzhen, and Taipei.

20220216_Cullinan-blue-stone-close.jpg
A closer view of the 15.10-carat “De Beers Cullinan Blue Diamond”

“Blue diamonds of any kind are rare on the market, but this is the rarest of the rare; nothing of remotely similar caliber has appeared at auction in recent years. Hundreds of millions of years in the making, this extraordinary blue diamond is surely one of nature’s finest creations,” said Patti Wong, chairman of Sotheby’s Asia.

“Now brought to dazzling life by the hand of one of the world’s most skillful cutters, it is the ultimate masterpiece—as rare and desirable as the very greatest works of art. At a time of unprecedented demand for the finest, world-class, colored diamonds, we are incredibly excited to bring to the market what is sure to become one of the most celebrated gems in the world.”

According to Sotheby’s, only five blue diamonds weighing more than 10 carats have gone to auction before, with none exceeding 15 carats.

The world auction record for highest price per carat belongs to “The Blue Moon of Josephine,” a 12.03-carat internally flawless cushion-shaped fancy vivid blue diamond, which sold for $48.5 million, or about $4 million per carat, in November 2015.

The “Oppenheimer Blue,” a 14.62-carat fancy vivid blue step-cut diamond, sold for $57.5 million in May 2016, setting the record for the most expensive jewel sold at auction.

The 59.60-carat “Pink Star” diamond later eclipsed the Oppenheimer Blue, selling for $71.2 million in April 2017. It remains the most expensive jewel ever sold at auction.

 Related stories will be right here …

The Latest

Saks Fifth Avenue Holiday Window
MajorsNov 14, 2024
Saks Fifth Avenue Cancels Holiday Light Display

Instead of its usual elaborate display, the store will illuminate its façade and frame the windows to highlight its flagship’s architecture.

Grand Seiko store in Honolulu Hawaii
WatchesNov 14, 2024
Grand Seiko Partners With Ben Bridge on First Hawaii Store

The new Grand Seiko boutique is located in Honolulu’s Waikiki neighborhood.

Travelers on Gem Legacy Adventures Trip
SourcingNov 13, 2024
Gem Legacy Adventures Announces 2025 Trip

Eleven spots are available for travelers to visit Northern Tanzania and Southern Kenya from July 25 to Aug. 4.

Jewelers Mutual Group Cybersecurity
Brought to you by
Navigating Cybersecurity: Essential Guidance for Jewelers

From protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.

17.97-carat Burmese ruby ring with pear-shaped diamonds
AuctionsNov 13, 2024
‘Exceptional’ Burmese Ruby Ring Tops $5M at Auction

Phillips also sold a 1.21-carat fancy red diamond dubbed the “Red Miracle” for more than $1 million at its jewelry auction in Geneva.

Weekly QuizNov 07, 2024
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Ariana Grande and Anya Taylor-Joy
MajorsNov 13, 2024
Ariana Grande, Anya Taylor-Joy Star in Holiday Jewelry Campaigns

From Swarovski to Tiffany & Co., jewelry retailers are enlisting celebrities to highlight their holiday offerings.

2024-2025 Royal Chain Catalog
MajorsNov 13, 2024
Royal Chain’s New Catalog Is Out Now

The 2024-2025 book introduces hundreds of new designs.

Article-Top-Image.jpg
Brought to you by
Enhance Your Expertise with IGI’s In-Person Courses in NYC

This fall, sharpen your skills in jewelry grading, quality control and diamond assessment.

Vhernier Calla necklace
FinancialsNov 12, 2024
Cartier, Van Cleef & Arpels Continue to Shine for Richemont

Richemont’s jewelry sales ticked up 2 percent in the first half of the year, while watch sales plummeted 17 percent.

The Gemological Institute of America’s logo
GradingNov 12, 2024
GIA’s Next-Day Services Return for the Holidays

Offered by the lab since 2016, the holiday season special is good from now through mid-December.

Model wearing Mikimoto Chrome Hearts Exclusive Pearl Necklace
CollectionsNov 12, 2024
Mikimoto and Chrome Hearts Blend Aesthetics in New Collaboration

The “Mikimoto Chrome Hearts” jewelry brings pearls from Mikimoto together with distinctive motifs from Chrome Hearts.

Larkspur & Hawk Lily Tapestry Earrings
CollectionsNov 08, 2024
Piece of the Week: Larkspur & Hawk’s ‘Tapestry Lily’ Earrings

These earrings use flat-backed white quartz to create a window onto an antique ribbon embroidered with a floral design.

AGTA Spectrum winners
Events & AwardsNov 08, 2024
AGTA Reveals Spectrum, Cutting Edge Award Winners for 2024

This year’s AGTA Spectrum & Cutting Edge Awards included a new category for engagement rings and a new award highlighting female designers.

Brilliant Earth Jane Goodall jewelry
FinancialsNov 08, 2024
Brilliant Earth’s Q3 Sales Fall 13%

Plus, CEO Beth Gerstein shares her insight on the holiday season and the possibility of new tariffs.

Aurelia Demark London blue topaz bow earrings
TrendsNov 07, 2024
Amanda’s Style File: Golden and Blue November Hues

The month’s birthstones, citrine and blue topaz, reflect the changing colors of the season.

Jewelry designer Sidney Garber and ceramicist Carey Lowell
CollectionsNov 07, 2024
Sidney Garber Collaborates With Carey Lowell on Capsule Collection

The “Carey Lowell x Sidney Garber” collection stems from the friendship between the jewelry designer and ceramicist.

Ritani holiday ad campaign still image
MajorsNov 07, 2024
Ritani Debuts ‘No-Fuss’ Holiday TV Campaign

The two ads highlight diamond engagement rings and diamond studs with a straightforward approach.

American India Foundation
Policies & IssuesNov 07, 2024
Diamonds Do Good To Distribute $250K+ In Grants Next Year

In 2025, the nonprofit plans to continue its support of longstanding partners while also allocating some funds to a new initiative.

Alfred ‘Al’ Giddings Rolex Submariner watches Titanic
AuctionsNov 06, 2024
Two Rolexes With Ties to Titanic Head to Auction

The Rolex watches are from the collection of “Titanic” co-producer Alfred “Al” Giddings and will go up for sale at Sotheby’s next month.

Pandora cuban link bracelet
FinancialsNov 06, 2024
Pandora Posts Double-Digit Revenue Growth in Q3

The Danish jewelry company plans to open up to 150 concept stores this fiscal year.

Gemological Institute of America logo
GradingNov 06, 2024
GIA to Close Lab in Ramat Gan, Israel

The location will close by the end of the year due to it being financially unsustainable, GIA said.

Iris Law and Hero Fiennes in Moments of Joy campaign
MajorsNov 06, 2024
David Yurman’s Holiday Campaign Celebrates ‘Moments of Joy’

The new campaign stars Sterling K. Brown, Hero Fiennes Tiffin, Winnie Harlow, Kyle Kuzma, Arizona Muse, and Iris Law.

Jacquie Aiche Lizzie Bracelet
CollectionsNov 05, 2024
Jacquie Aiche is Hosting an Online Treasure Hunt

One lucky winner will receive a “Lizzie” diamond bracelet.

Samantha Larson
IndependentsNov 05, 2024
Long's Jewelers Names New Director of Buying

Samantha Larson has joined the Boston-based retailer.

Emerging Jewelers Accelerator Program logo
Events & AwardsNov 05, 2024
JA, BIJC Now Accepting EJAP Applications for 2025

The Emerging Jewelers Accelerator Program will guide retail jewelry entrepreneurs through an eight-month educational curriculum.

Tiffany & Co. x CFDA Jewelry Designer Award
Events & AwardsNov 05, 2024
Tiffany & Co., CDFA Announce Design Award Finalists

Ten chosen designers will receive mentorship and participate in a design contest for the Tiffany & Co. x CFDA Jewelry Designer Award.

Dana J. Lorberg
MajorsNov 04, 2024
Jewelers Mutual Appoints Mastercard Exec to Its Board

Dana J. Lorberg brings 35 years of experience in finance, technology, and strategy to the role.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy