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10-Carat Blue Diamond May Fetch Up to $35M at Sotheby’s

By   /   March 11, 2016  /   No Comments

Original article from blouinartinfo.com

The largest oval fancy vivid blue diamond ever to appear at auction will cross the block at Sotheby’s Hong Kong on April 5.

Headlining the auction house’s Magnificent Jewels and Jadeite Spring Sale, the rare stone weighs 10.10 carats, is internally flawless, and is estimated to fetch between HK$235 million and HK$280 million (or US$30 million to US$35 million).

The gem is called the ‘De Beers Millennium Jewel 4’, so dubbed for being one of 12 rare diamonds — 11 of them blue and one colorless — that form the De Beers Millennium Jewels collection that was unveiled by the company in 2000 in celebration of the dawn of the 21st century. It is the only oval-shaped stone among the dozen, which were chosen for their color intensity, even saturation and brilliance.

In November 2015, Sotheby’s set a world auction record and record price-per-carat for any diamond or gemstone, when it sold The Blue Moon of Josephine, a 12.03-carat cushion-shaped, internally flawless vivid blue diamond, for $48.5 million (or $4 million per carat) in Geneva. It was bought by Hong Kong property tycoon Joseph Lau, for his seven-year-old daughter.

The ‘De Beers Millennium Jewel 4’ also comes from a private collector in Asia. It is worth noting that blue diamonds, already amongst the rarest of all gems as they owe their color to impurities of boron during their formation, have become even more valuable as rough diamond supplies from mines have declined in the last decade.

Read the complete article on blouinartinfo.com

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