Ultra Rare Blue Diamond to Hit the Auction Block at Sotheby’s

April 18th, 2009 by James L. Sweaney, CGA, FGA. GG

cullinan-rare-blue-diamond

From Rapaport

A Super Stone is sure to be the talk-of-the-town at the May 12 Sotheby’s auction in Geneva, Switzerland.  Cut from a 26.58 ct. crystal mined at the famed Cullinan Mine in South Africa, the 7.03 ct cushion shaped diamond has been graded Fancy Vivid Blue and Internally Flawless by the Gemological Institute of America (GIA).  Sotheby’s presale estimate is $5.8 million and $8.5 million—that’s around $1,000,000 per carat!

Natural color blue diamonds are among the rarest of all gems–this one-of-a-kind once-in-a-lifetime gem is sure to attract the biggest spenders on the planet.   A diamond of this wearable size, flawless in clarity with Fancy Vivid Blue color description is the perfect gemstone for the uber-collector.  Talk about Ice!

The current wholesale listing for 5 ct. Fancy Blue diamonds in the GemGuide price guide is up to $600,000/ct for plain old Fancy blue, with as much as a 50% bump for a stone with a Fancy Intense Blue description. Vivid would go higher yet.  This 7 ct. wonder is graded as Fancy Vivid Blue, setting into a class by itself.

Dealers may be hard pressed to stay ahead of private bidders at this exciting auction.  Given the state of the world economy, with paper money  flying off the presses, it would not surprise this writer to see the price for this ultimate hard asset go substantially higher, if that’s imaginable!  You heard it here first!

Stay tuned to the Mardon Blog for an upcoming article explaining how Fancy Color diamonds are identified and  graded.  Click the Subscribe button and sign up —you’ll be automatically notified of new Blog articles and their title.

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