Rarely blue diamond achieves $ 21.5 million at auction in Geneva

An exceptionally rare blue diamond came under the hammer late Tuesday and was sold for $ 21.5 million, said the Sotheby’s auction house.

“The Mediterranean Blue”, a unusual, bright blue diamond with a weight of 10.3 carat and an estimated value of $ 20 million, attracted an intensive bidding competition.

The bid began at nine million Swiss francs (9.6 million euros). A violent back and forth developed before the diamond finally was sold to a private US collector for CHF 17.9 million: in: whose name was not mentioned, according to Sotheby’s.

The Mediterranean Blue, a brand new blue diamond, which was recently dismantled in the legendary Cullinan mines in South Africa, has caused a sensation in the diamond industry since his first announcement in March, the auction house.

Before his last exhibition in Geneva on Tuesday, he was shown last month as part of a debut exhibition by Sotheby’s in Abu Dhabi, where he was exhibited together with seven other “extraordinary” diamonds and gemstones with a total value of over $ 100 million.

“Blue diamonds are at the top of the rarity pyramid,” said Quig Bruning, Head: In the jewelry area of ​​Sotheby’s in North America, Europe and the Middle East, on Abu Dhabi Show.

After he had acted as an auctioneer at the event on Tuesday: in acting, he described the gemstone as “undoubtedly the defining stone of the season” and said in an explanation that he “was one of the best blue diamonds we sold”.

Tobias Kormind, Head: In the largest online diamond dealer in Europe, 77 Diamonds, was less optimistic and described the sale as “less exciting than expected”.

“The diamond exceeded his estimate of $ 20 million, which indicates that there was a significant interest,” he admitted.

“But the general uncertainty, including the ongoing trade voltages between the USA and China, may have the trust of the bidders: steamed on the inside and a possibly more frenetic atmosphere.”