SourcingJun 10, 2021
Lucara Digs Up 470-Carat Diamond 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.
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 …
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.
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 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.
Editors' Picks
Sponsored by
More on Sourcing
The Latest
FinancialsAug 08, 2025
Brilliant Earth’s Q2 Sales Up 3% as Engagement Ring Sales RiseThe company raised its full-year sales guidance while noting it has not yet assessed the potential impact of the latest tariff news.
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of FundraisingThe organization has raised more than $1.3 million for charity since its inception.
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel BangleThe brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony BennettThe first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.
Weekly QuizAug 08, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown GemstonesThe catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird CharmsThe company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
Policies & IssuesAug 06, 2025
Tariff on India to Rise to 50%, Trump Says An additional 25 percent tariff has been added to the previously announced 25 percent.
MajorsAug 06, 2025
Claire’s Files for Chapter 11 Bankruptcy AgainThe jewelry and accessories retailer plans to close 18 stores as part of the proceedings.
IndependentsAug 06, 2025
Smith & Son Jewelers to Close 107-Year-Old Location Its Springfield, Massachusetts, store is set to close as owner Andrew Smith heads into retirement.
CollectionsAug 06, 2025
Zahn-Z Swims With Whales in ‘Beluga’ CollectionDesigner Hiba Husayni looked to the whale’s melon shaped-head, blowhole, and fluke for her new chunky gold offerings.
TrendsAug 06, 2025
Paola De Luca to Release Trendbook 2027+She will present the 23rd edition of the trend forecasting book at Vicenzaoro on Sept. 7.
CrimeAug 05, 2025
Report: Suspect Arrested in 1992 Murder of Miami JewelerOmar Roy, 72, was arrested in connection with the murder of jeweler Dionisio Carlos Valladares.
CollectionsAug 05, 2025
Mignon Faget Commemorates 20th Anniversary of Hurricane KatrinaThe New Orleans-based brand’s “Beyond Katrina” jewels honor the communities affected by the storm.
ColumnistsAug 05, 2025
The PR Adviser: Affiliate Marketing Is the Cost of CoverageLilian Raji explains why joining an affiliate network is essential for brands seeking placements in U.S. consumer publications.
Events & AwardsAug 05, 2025
JA Announces Seymour & Evelyn Holtzman Bench Scholarship WinnersThe organization has awarded a total of $42,000 through its scholarship programs this year.
Events & AwardsAug 04, 2025
Gem Awards, David Yurman Introduce $50K Grant for Emerging DesignersThe winner of the inaugural David Yurman Gem Awards Grant will be announced live at the 2026 Gem Awards gala.
TrendsAug 04, 2025
Amanda’s Style File: August’s Bright BaublesAs summer winds down, celebrate the sunny disposition of the month’s birthstones: peridot and spinel.
CrimeAug 04, 2025
‘The Watch King’ Assaulted, Robbed in QueensMoshe Haimoff, a social media personality and 47th Street retailer, was robbed of $559,000 worth of jewelry by men in construction outfits.
MajorsAug 04, 2025
Borsheims Welcomes New Assistant Facilities ManagerXavier Dibbrell brings more than a decade of experience to the role.
MajorsAug 01, 2025
Helzberg President Julie Yoakum Moves Over to Signet JewelersThe addition of Yoakum, who will lead Kay and Peoples, was one of three executive appointments Signet announced Thursday.
MajorsAug 01, 2025
Jewelers Mutual Names Mike Alexander as President The insurance company’s previous president and CEO, Scott Murphy, has split his role and will continue as CEO.
CollectionsAug 01, 2025
Piece of the Week: Hernsdorf’s ‘Tears of Aphrodite’ NecklaceThe necklace uses spinel drops to immortalize the moment Aphrodite’s tears mixed with her lover Adonis’ blood after he was fatally wounded.
Events & AwardsJul 31, 2025
These Are the 2025 CASE Award WinnersJewelers of America’s 35th annual design contest recognized creativity, artistry, style, and excellence.
IndependentsJul 31, 2025
Matthew Tratner Takes Over as CBG President Tratner succeeds Andie Weinman, who will begin stepping back from the buying group’s day-to-day operations.
Policies & IssuesJul 30, 2025
Tariff on India Will Be 25%, Trump Says The president made the announcement via Truth Social Wednesday, adding that India also will face a penalty for its dealings with Russia.
