Blue Diamond Auction - 25 Carat Blue Diamond Sells for Over $16.9 Million
It’s fantastic to look at the international diamond market from above, especially for investors who are looking for a new alternative asset in which to invest. Research has shown in 2012 through 2013 a large increase in demand for high-quality investment worthy goods in China, Singapore, India, and the middle-east. Furthermore, as reported by Bloomberg market top 10, data showed consumer confidence climbed in the United States economy to the highest level since 2008.
Many extraordinary blue diamonds have been making headlines with their unusually large sizes not to mention the high and heavy prices they managed to fetch. Petra Diamonds LTD, which owns an exploration program in Botswana and eight mines in South Africa and Tanzania is among the many internationally traded diamond companies catching the eye of the general public. Just over a week ago a rough blue diamond weighing 25.5-carats, which was found in the Cullinan diamond mine in South Africa, one of Petra’s most famous mines, became the new star of the show.
The huge stone was sold in its rough state to a buyer for over US $663,000 per carat. The final sale price for this sensational diamond, an astounding $16.9 million, was $7 million more than expected. The Cullinan mine has been producing remarkable diamonds since its discovery over a century ago and will most likely continue to do so for some time to come.
Another quite impressive blue diamond to recently hit the market again at the very end of April was the 5.3-carat Bulgari deep blue diamond, which sold for $9.6 million. This is four times the initial estimate of $2.25 million. That leaves this diamond with a per-carat price of an unbelievable $1.8 million. Bonhams Auctioneers in London sold this one-of-a-kind blue diamond, and they must be quite proud!
Also in April a 2.5-carat natural fancy blue diamond was sold for $1.65 million. Heritage Auctions in New York City sold this marquise-cut VS1 blue diamond, mounted in an Art Deco ring that is nearly 100 years old.
Along with pink and yellow, blue diamonds appear to be a favorite color at auction. In fact, 9 of the 16 price records broken at both Sotheby’s and Christie’s auction houses belong to natural blue diamonds. It is exciting and fascinating to witness these sales as they go down in history as some of the most memorable and monumental colored diamond transactions.