Flawless blue diamond up for grabs at Sotheby's

Jewelry Auctions

Save

E-mail

Flawless blue diamond up for grabs at Sotheby's

April 03, 2009

Similar Stories | Topics

STORIES

Revenues slide 58 percent at Sotheby's

Big diamonds don't sell at Sotheby's

Sotheby's to offer jewels of Brazil's 'first lady'

Sotheby's experiences record-setting year

Sotheby's holds record-setting sale

TOPICS

Auctions

This 7.03-carat, internally flawless, fancy-vivid-blue diamond is estimated to fetch between $5.8 million-$8.5 million at auction.

Geneva--A flawless 7.03-carat blue diamond will be among the jewels up for sale at Sotheby's upcoming auction in Geneva.

The diamond, an internally flawless, fancy-vivid-blue, cushion-cut stone, was cut from a 26.58-carat piece of rough discovered in 2008 at Petra Diamonds' historic Cullinan Diamond Mine in South Africa.

The Cullinan mine has produced some of the world's largest diamonds, including the 3,106-carat "Cullinan," the largest rough gem ever unearthed.

The diamond is estimated to fetch between $5.8 million-$8.5 million, according to a press release from Sotheby's, and, as always, the buyer will have the honor of naming the stone.

The sale, called "Magnificent Jewels," is scheduled for May 12 at the Beau-Rivage Hotel in Geneva.

Commenting on the blue diamond, David Bennett, chairman of Sotheby's International Jewellery Department for Europe and the Middle East, said "Blue diamonds are among the rarest of all nature's treasures and it is very exciting to have such a fine example as the centerpiece of our forthcoming Geneva Magnificent Jewels sale. This stone certainly ranks among the most important blue diamonds that I have had the privilege of offering for sale in my career at Sotheby's, and what makes it particularly special for us is that we've been able to follow its production from the initial rough state through the various stages of its cutting and polishing."

In the last three years, Sotheby's has seen three blue diamonds garner more than $1 million per carat at auction, including a pear-shaped vivid-blue diamond set in a ring that brought $4.9 million at the Geneva auction in May 2008, setting a new world record price-per-carat for any gemstone at auction.

Save

E-mail

More Jewelry Auctions

Sotheby's reports record-breaking sales in Geneva

Jewels of historical importance and natural-color diamonds garnered "stunning" prices at Sotheby's "Magnificent Jewels" sale, held on Tuesday at the Hotel Beau Rivage in Geneva. Read More

Flawless diamonds to shine in Sotheby's sale

Christie's twinkles big with 'Evening Star'

'Vivid Pink' up for sale at Christie's

Rare colored diamonds to hit Sotheby's block

More Jewelry Auctions

More Like This

Revenues slide 58 percent at Sotheby's

May 08, 2009 | National Jeweler Network

Big diamonds don't sell at Sotheby's

November 20, 2008 | National Jeweler Network

Sotheby's to offer jewels of Brazil's 'first lady'

April 24, 2008 | National Jeweler Network

Sotheby's experiences record-setting year

February 27, 2008 | National Jeweler Network

Sotheby's holds record-setting sale

December 05, 2007 | National Jeweler Network

TOPICS

Auctions

Design Portfolio

BROWSE

Video

Retailer Toolbar

America's Best Jewelers
Join the ONLY Social Network for Jewelry Retailers. Get access to expert content, peer best practices, and more.
Start networking today.

Newsletters
Topic-specific newsletters that deliver the latest news on jewelry, diamonds, wholesale operations and high-volume buying directly to your in-box.

ReaderConnect
Supplier information presented with every article, bringing you related, actionable content on every topic.

Yellow Pages
A comprehensive listing of associations, organizations, suppliers and services for the jewelry industry.

Classifieds
A comprehensive listing of job postings, product offerings and other materials for sale for the jewelry industry.

CustomerConnect
The most sophisticated suite of marketing services available for jewelry retailers, from Internet tools to data marketing.