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Sotheby’s expects rare blue diamond to cost $ 48 million at auction

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The biggest blue diamond that has ever appeared at auction, De Beers Cullinan Blue, is Tuesday at Sotheby’s in New York City. Photo by John Angelil / UPI | Photo license

February 16 (UPI) – The 15.1-carat blue diamond is expected to cost at least $ 48 million if it is put up for auction in Hong Kong in April, Sotheby’s said Wednesday.

According to the auction house, the gem, known as De Beers Cullinan Blue, is the largest diamond with a whimsical bright blue variety. The Gemological Institute of America awards a bright bright blue color – its highest color score for blue diamonds – about 1% of the diamonds presented to it.

The rare value exceeds the 14.6-carat Oppenheimer Blue diamond, which sold more than $ 57.54 million. Christie’s auction in 2016.

The $ 48 million value is the highest valuation ever put up for auction on a blue diamond.

“Blue diamonds of any kind are rare on the market, but they are the rarest of the rare; nothing of this caliber has appeared at auction in recent years,” said Patti Wong, chairman of Sotheby’s Asia.

“This extraordinary blue diamond, created hundreds of years ago, is certainly one of nature’s finest creations. Now, made by one of the world’s most skilled incisors, it is the ultimate masterpiece – as rare and desirable as the greatest works of art ”.

Sotheby’s said the diamond was found at the Cullinan mine in South Africa in 2021. The mine is one of the few sources of blue diamonds in the world.

Cullinan Mine was once home to many other famous diamonds, including the Big Star of Africa and the Little Star of Africa – both of which are in the British Crown’s jewels – and the 507.5-carat Diamond of Culinary’s legacy found in 2010.

The blue color in De Beers Cullinan Blue is caused by a small amount of a rare boron element in the diamond lattice structure.

“Among the rarest stones is what is perhaps the most desired color – powerful and bright, but at the same time calm and majestic – it should definitely be among the greatest wonders of nature,” said Wenhao Yu. chair of jewelry and watches at Sotheby’s Asia. “It’s literally insurmountable.”

https://www.upi.com/Top_News/US/2022/02/16/blue-diamond-sothebys/8381645048935/ Sotheby’s expects rare blue diamond to cost $ 48 million at auction

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