Sourcing

Petra Puts 39-Carat Blue Diamond Up for Sale

SourcingJun 21, 2021

Petra Puts 39-Carat Blue Diamond Up for Sale

The stone, which is similar to the rough diamond that produced the “Blue Moon of Josephine,” is expected to sell for upward of $50 million.

20210617_39 carat blue diamond.jpg
Miner Petra Diamonds recovered this 39.34-carat Type IIb blue diamond from the Cullinan Mine in April. It’s showing the diamond to potential buyers this month, with tender bids closing around July 12.
London—Petra Diamonds Ltd. has released details on the sale process for the nearly-40-carat blue diamond it recovered from the Cullinan mine in April, a remarkable stone expected to sell for upward of $50 million.

Viewings of the 39.34-carat, Type IIb stone will take place throughout June and into early July, including a stop in New York from July 7-9.

Tender bids are scheduled to close on or around Monday, July 12 at 10 a.m. EDT. 

In an interview with National Jeweler last week, George Togholian, a gemologist at L.J. West Diamonds, compared the 39.34-carat diamond to another big chunk of blue rough mined at Cullinan in January 2014—the 29-carat stone that became the $48.5 million “Blue Moon of Josephine.”  

New York-based Cora International cut that stone, and Togholian, who worked as a gemologist and consultant for the company then, helped with the planning process.  

Though he has not seen the 39.34-carat rough diamond in person yet, he said in pictures it looks “very similar” to the rough that produced the Blue Moon, possessing the color and texture specific to blues from Cullinan. 

“This is a special tone of blue. It’s not comparable to any other diamond that comes to auction,” Togholian said. 

“In my opinion, these are the best of the blues. This is on another level.”

While he declined to share his guess as to the diamond’s sale price, Togholian did note the 39-carat rough probably will deliver about a 40 percent yield—the yield for blues and pinks is generally less than yellow or white diamonds because the material is not as smooth, he noted—which means a polished diamond of about 15 to 16 carats. 

 Related stories will be right here … 

That’s 3 to 4 carats larger than the 12.03-carat Blue Moon of Josephine, which still holds the world auction record for highest-grossing gemstone per carat at $4 million.

Joseph Namdar, of Namdar Inc., described the 39.34-carat blue rough as a “very special diamond” that is “thought to be one of the purest blues to ever be mined.” 

While noting bidding is unpredictable, he put the rough diamond’s sale price at $55 million to $65 million.

Petra Diamonds operates three underground diamond mines in South Africa—the Cullinan, Finsch, and Koffiefontein—as well the open-pit Williamson mine in Tanzania. Williamson has been on care and maintenance since April 2020. 

The Cullinan mine has produced a number of famous diamonds, including, of course, the 3,106-carat Cullinan, the rough that produced the 69-carat Taylor-Burton Diamond, and the aforementioned 29-carat blue rough that became the Blue Moon of Josephine

Anyone interested in scheduling a viewing of the 39.34-carat blue diamond should contact Petra’s Group Head of Sales and Marketing Greg Stephenson at diamondsales@petradiamonds.com or +27 836 379 849. 

The Latest

Movado Connect 2.0 watches
FinancialsMay 30, 2025
Movado’s Q1 Sales Slip Amid ‘Challenging’ Retail Environment

The company plans to raise the prices of select watches to offset the impact of tariffs.

Zoë Chicco Bracelets
Policies & IssuesMay 30, 2025
Tariffs & Designers: Navigating Pricing in an Unstable Environment

Between tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.

Renato Cipullo Hematite Blaze Necklace
CollectionsMay 30, 2025
Piece of the Week: Renato Cipullo’s ‘Hematite Blaze’ Necklace

Designed by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.

Article Image 1.png
Brought to you by
Clienteling Isn’t a Buzzword. It’s an Essential Business Model.

More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.

Stock image of shipping containers
Policies & IssuesMay 30, 2025
Trade Court Declares Trump’s Tariffs Invalid

However, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.

Weekly QuizMay 30, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Britney Spears
CollectionsMay 29, 2025
Britney Spears Files Trademark for New Jewelry Line

The pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.

Inoveo Platinum Grain image.jpg
Supplier BulletinMay 29, 2025
Inoveo Platinum Grain, Exclusively Distributed by Stuller

Sponsored by Stuller

antique_Vegas_2024_by_headshot_stories_9454.jpg
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the Globe

Gain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.

GemFind Logo
TechnologyMay 29, 2025
GemFind Launches AI Product Description Software

GemText AI uses artificial intelligence to generate tailored product titles, descriptions, and tags with jewelry-specific language.

Graff Fontainebleau Las Vegas
MajorsMay 28, 2025
Graff Unveils New Las Vegas Flagship

The 3,300-square foot location is the jeweler's largest store in North America.

Kim Kardashian
CrimeMay 28, 2025
8 Convicted in Kim Kardashian Jewelry Heist Trial

Aging and with myriad health issues, none will serve time for their roles in robbing the billionaire celebrity at gunpoint in 2016.

New York Liberty 2024 WNBA Championship Ring
CollectionsMay 28, 2025
NY Liberty’s 2024 Championship Rings Honor Historic Win

The WNBA team received rings imbued with meaning, from leaf motifs and its Liberty torch to the number of diamonds used.

Jewelers Board of Trade logo
MajorsMay 28, 2025
Andrew Rickard Named JBT President

A longtime executive at RDI Diamonds, Rickard has served on the JBT board for the past five years.

Logos for Manufacturing Jewelers & Suppliers of America and Jewelers of America
MajorsMay 27, 2025
MJSA to Become Part of Jewelers of America

The two organizations have signed an affiliation agreement that’s expected to be finalized in the coming weeks.

Al Capone Pocket Watch
AuctionsMay 27, 2025
Al Capone’s Patek Philippe Pocket Watch Back Up for Auction

The platinum and diamond watch is part of Sotheby’s upcoming Important Watches sale.

Kat Florence Lumina
AuctionsMay 27, 2025
182-Carat Paraíba-Type Tourmaline Sells for $487K

Recovered in Mozambique, “The Kat Florence Lumina” was part of Bonhams’ Hong Kong jewelry auction held last week.

Mark Henry Gumdrop Bypass Ring
TrendsMay 27, 2025
Amanda’s Style File: Candy-Colored Gemstones

Get a taste of the delicious candy-like gemstones in this Amanda’s Style File.

Stock image of police cars with their lights on
CrimeMay 23, 2025
JSA Shares Holiday Weekend Security Tips Amid Spike in Burglaries

JSA’s Scott Guginsky provided a list of nine security measures jewelers should observe while locking up for the long weekend.

Bliss Lau Bright Ring
CollectionsMay 23, 2025
Piece of the Week: Bliss Lau’s ‘Bright’ Ring

From Lau’s “Love of a Kind” series, the engagement ring was inspired by the moon and holds a different meaning depending on how it is worn.

GIA pearl report
GradingMay 23, 2025
GIA Updates Pearl Classification System

The lab has adjusted the scale it uses for nacre grading.

GCALbySarine Diamond Journey Certificate_1872x1052.jpg
Supplier BulletinMay 22, 2025
How to Put Natural Diamonds Back in the Spotlight

Sponsored by GCAL by Sarine

The late West Virginia jeweler David Ettinger
CrimeMay 22, 2025
NY Jeweler Sentenced in Shoving Death of Colleague at IJO Show

David Walton will serve three years’ probation after an incident in a hotel bar led to the death of West Virginia jeweler David Ettinger.

Watches of Switzerland store in Mall of America
FinancialsMay 22, 2025
Watches of Switzerland’s Full-Year U.S. Sales Climb 14%

The retailer also provided an update on how the tariffs situation in the U.S. is affecting its business.

Jorge Adeler, Wendy Adeler, Valentina Adeler
IndependentsMay 22, 2025
Adeler Jewelers Celebrates 50 Years

The family-owned jeweler in Great Falls, Virginia, will be celebrating its golden jubilee with a year’s worth of events.

Jose Hess Design Awards 2025 Trophy
Events & AwardsMay 22, 2025
Jose Hess Design Awards Announce Judges

The nonprofit elected five judges who will decide the winners of its design competition.

MJSA 2025-2026 Buyer’s Guide
MajorsMay 22, 2025
MJSA Releases 2025-2026 Buyer’s Guide

This year’s edition includes articles on the favorite tools of notable designers, evaluating when to outsource production, and more.

Bulgari Invisible Violet Necklace and Rainbow Flow Necklace
CollectionsMay 21, 2025
Bulgari Highlights Its Colorful Past in Phenomenal ‘Polychroma’ Collection

The jeweler’s high jewelry collection features extraordinary gemstones, like a 241.06-carat emerald and the world’s fourth-largest spinel.

×

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