SourcingJun 24, 2021
This Time, Lucara Finds a 1,174-Carat Diamond in BotswanaSourcingJul 14, 2021
39-Carat Blue Diamond Sells to De Beers, Diacore for $40M
The “exceptional” stone went for about $1 million per carat and is the second natural color rough diamond purchased by the two companies.
De Beers and manufacturer Diacore paid $40.2 million for this 39.34-carat blue diamond. It’s expected to yield a 14- or 15-carat polished stone that is cushion- or pear-shaped.
London—The “exceptional” 39.34-carat blue diamond recovered from a mine in South Africa has been sold, Petra Diamonds Ltd. announced Monday.
A partnership between De Beers Group and manufacturer Diacore International, a De Beers sightholder, paid $40.2 million ($1 million per carat) for the stone.
The two companies will appoint “expert artisans” to study and work with the diamond prior to cutting, so that “its beauty can be maximized before it is presented to the wider world,” De Beers said in a statement issued Wednesday morning.
The 39.34-carat diamond is the single most expensive stone Petra has ever sold.
It’s also the second rough blue diamond the De Beers/Diacore partnership has recently purchased from Petra, which just underwent a debt-for-equity restructuring after a failed attempt to find a buyer.
In November 2020, the two companies bought the five blue diamonds comprising the “Letlapa Tala Collection,” paying $40.36 million.
Related stories will be right here …
Like the 39-carat blue diamond, those stones came from the Cullinan Mine, which has yielded a number of famous diamonds, both natural color and colorless.
Among them is the rough that yielded the 12.03-carat blue diamond later named the “Blue Moon of Josephine,” which sold for $48.5 million at a Sotheby’s auction in November 2015.
That is roughly $4 million per carat, which remains the highest price-per-carat ever paid for a gemstone sold at auction.
In an interview last month, L.J. West Diamonds gemologist George Togholian, who worked on the cutting of the Blue Moon at a previous job, said this 39-carat blue diamond looks “very similar” to the rough that became the Blue Moon.
Blue diamonds from Cullinan, he said, possess a “special tone of blue” that’s not comparable to any other diamonds.
Editors' Picks
Sponsored by
Though Togholian declined to share his estimate, others predicted the diamond would sell for upward of $1 million a carat, with one diamantaire telling National Jeweler the stone could go for as much as $65 million.
It fell well short of that mark at $40 million.
Larry West, owner of L.J. West Diamonds, said the rough diamond’s sale price is indicative of where the market is right now.
The Blue Moon, sold as rough in 2014 and auctioned as a polished diamond for $4 million per carat the following year, was purchased at a high point.
Today, travel limitations and lingering concerns around COVID-19 are “putting a little damper” on the sale of extremely rare natural color diamonds, West said, holding down prices slightly.
Damper, however, is a relative term when it comes to these sought-after stones.
While more and more large colorless diamonds are being found, the supply of exceptional natural color diamonds is dwindling. West cited both the closure of the Argyle mine and Cullinan, where Petra has to keep going deeper to find diamonds like the 39-carat blue, as examples.
“In general, [the 39-carat diamond’s $40 million sale] still shows how strong [the market for] vivid blues is ... as a commodity, they generate strong interest,” he said.
More on Sourcing
The Latest
Lab-GrownMay 08, 2026
NDC Publicly Criticizes Pandora Over ‘Misleading’ Natural Diamond ClaimsNDC said in an open letter that Pandora’s statements about the carbon footprint of lab grown versus natural diamonds are inaccurate.
TrendsMay 08, 2026
Rihanna Chooses ‘Desert Diamonds’ for 2026 Met GalaShe wore our Piece of the Week, Glenn Spiro’s “Old Moghul Golconda” earrings, featuring fancy brown-yellow diamonds totaling 51.90 carats.
Events & AwardsMay 08, 2026
JA Announces 2026 CASE Award WinnersTwo pieces were named “Best in Show,” one from the retail category and one from the supplier category.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
FinancialsMay 07, 2026
Brilliant Earth Appeals to Higher-Income Shoppers in Q1The jewelry retailer noted resilience among its higher-end customers while demand softened for its lower-priced offerings.
Weekly QuizMay 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsMay 07, 2026
‘Spectacular’ Kashmir Sapphire Headlines Heritage Spring Jewelry SaleLed by the 6.59-carat sapphire, the sale garnered $9.7 million, a record total for a Heritage jewelry auction.
MajorsMay 07, 2026
Gannon & Scott Names New Regional Account ExecutiveIn his new role, sales specialist Billy Welshoff will focus on the eastern United States.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
WatchesMay 07, 2026
Chrono24 Names New CEOJosé Gaztelu has been promoted to the role, which has been vacant since last year.
Events & AwardsMay 07, 2026
JA Accepting Applications for 2026 Scholarship ProgramIt has also opened the application period for the Seymour & Evelyn Holtzman Bench Scholarship through June 30.
FinancialsMay 06, 2026
Pandora to Add Carbon Footprint Info to Lab-Grown DiamondsThe company announced the change alongside its Q1 results, which showed that the jewelry brand’s year is off to a shaky start.
MajorsMay 06, 2026
Saks Global Begins Layoffs, Reorganization Plans Closer to ApprovalThe retailer will cut 16 percent of its corporate workforce as part of its plan to exit bankruptcy.
AuctionsMay 06, 2026
Steve McQueen’s Heuer Monaco Watch Heads to Sotheby'sOf the many examples used in the filming of “Le Mans,” this one is believed to have spent the most time on Steve McQueen’s wrist.
EditorsMay 05, 2026
This Ohio Designer’s Jewelry Made It to the Met GalaMegan Piccione dressed Lauren Wasser in layers of diamond jewelry, making her stand out in a crowd that included celebrities like Beyoncé.
SourcingMay 05, 2026
Doug Hucker Returns to His RootsFollowing decades of association leadership, the “semi-retired” colored gemstone expert is turning his focus to gemstone education.
Events & AwardsMay 05, 2026
AMNH to Showcase Famous Jewelry, Trophies in Sports HistoryThe museum’s new exhibition will feature one of Jesse Owen’s Olympic medals, Yogi Berra’s crown, Super Bowl rings, and more.
Events & AwardsMay 05, 2026
JIS Launches Brand Exposure ProgramThe new program provides access to media exposure and editorial opportunities for exhibitors and retailers.
CollectionsMay 04, 2026
Melanie Georgacopoulos Turns Pearls Into Light for ‘Eclipse’ CollectionThe “Eclipse” jewelry collection captures the fleeting moment where light and shadow align though onyx, diamonds, and freshwater pearls.
ColumnistsMay 04, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
CrimeMay 04, 2026
Pawn Shop Manager Shot, Killed in FloridaLazaro Rodriguez Vega was murdered inside Cash Out Gold and Silver in Fort Pierce. A 20-year-old man has been charged in the case.
IndependentsMay 04, 2026
Zadok Jewelers, Austin Parks Foundation Support Wildflower PreservationA portion of every engagement ring sold in its Austin showroom will support the care and preservation of Austin’s wildflowers and green spaces.
TechnologyMay 01, 2026
Gemist, Saban Onyx Partner on Retailer-Focused Customization OfferingTheir partnership combines Gemist’s customization technology with Saban Onyx’s U.S.-based manufacturing capabilities.
SurveysMay 01, 2026
Consumer Confidence Inches Up in April Despite Rising Gas PricesRespondents were concerned about the Middle East conflict and how it will impact their finances.
CollectionsMay 01, 2026
A ‘Hidden Garden’ Emerges in Tiffany & Co.’s 2026 Blue BookOur Piece of the Week, the “Butterfly” necklace, showcases a 7.02-carat oval diamond set between diamond, platinum, and 18-karat gold wings.
ColumnistsApr 30, 2026
Peter Smith: A Sleazy Salesman and the Case for Regret Avoidance Smith uses a comment he overheard in the grocery store to remind retailers that their job is to inspire buying behavior, not just sell.
MajorsApr 30, 2026
Claire’s New Summer Campaign Is a Sensory Wonderland for Gen Alpha“A Girl SMR at Claire’s” celebrates girlhood through the five senses with stacked jewelry, slime toys, scented accessories, and ASMR.
AuctionsApr 30, 2026
Vintage Cartier Watch Crashes Through Records, Selling for $2MBelieved to be one of three made in 1987, the Cartier London Crash was hot at the “Shapes of Cartier” sale at Sotheby’s Hong Kong.
