A stunning 10.03 carat blue diamond, named the Mediterranean Blue, will be on display at Sotheby’s High Jewellery auction in Geneva this May. The diamond’s vivid blue colour is reminiscent of the waters off the French Riviera and is estimated to sell for up to $20 million (CHF18 million). This is the first time the gem has been presented at auction alongside other high-value jewels.
The Mediterranean Blue is extremely rare and has the highest colour grade for blue diamonds as assessed by the Gemological Institute of America (GIA). It is also classified as a Type IIb diamond, a category that accounts for less than 0.5% of all diamonds. The gem’s VS2 clarity further adds to its allure, making it stand out from the crowd.
The diamond was cut from a 31.94 carat rough found in 2023 at South Africa’s famous Cullinan mine, which has produced several notable blue diamonds in recent years. After more than a year of research and six months of meticulous cutting, the rough was transformed into a cushion-shaped brilliant. Its carefully crafted triangular and kite-shaped facets enhance its ability to reflect light, making it sparkle with dazzling brilliance.
The Mediterranean Blue Diamond will be on display in a series of exhibitions before the auction. It will make its world debut in Abu Dhabi next month at the Bassam Freiha Art Foundation in the cultural district of Saadiyat Island. The diamond will then travel to Taipei, Hong Kong and New York before arriving in Geneva for auction on May 13.
Quig Bruning, Sotheby’s head of jewelry for the Americas and EMEA, described the gem as “one of nature’s rarest treasures”. He added: “A vivid blue diamond of this size and quality is a remarkable find. Its captivating colour, extraordinary size and elegant cushion cut make it one of the most important blue diamonds to have appeared on the market in recent years.”
Blue diamonds are among the rarest gemstones, with less than 0.1% of diamonds showing the blue hue, according to Sotheby’s. Due to their scarcity, blue diamonds are highly sought after and often set record-breaking prices at auction. For example, the 15.10 carat De Beers Cullinan Blue diamond sold for $57.5 million in 2022, the most expensive diamond ever sold at auction.
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